Option to Purchase Common Stock a. Subject to Section 5 hereof, the Corporation hereby grants to the Employee an option (the "Option") to purchase from the Corporation 1,362,000 Option Shares, at a purchase price of $1.60 per Option Share (the "Option Price"). The Employee's right and option to purchase the Option Shares shall vest annually commencing January 1, 2000 until January 1, 2002, with respect to installments of 454,000 Option Shares at the Option Price, so long as the Employee is employed by the Corporation. Said right shall be cumulative so that as of January 1, 2002, Optionee shall have the fully vested right to purchase 1,362,000 Option Shares. In the event that the Employee's employment with the Corporation terminates prior to January 1 of any year, the Employee shall not have the right or option to purchase any part of the installment of 454,000 Option Shares that would have otherwise vested on such January 1. With respect to the Option, the "Option Period" shall commence on the date hereof and terminate on December 31, 2006.
Option to Purchase Common Stock a. The Corporation hereby grants to the Holder an option (the "Option") to purchase from the Corporation 250,000 Option Shares, at a purchase price of $.10 per Option Share (the "Option Price"). The Holder's right and option to purchase the Option Shares shall vest, subject to subsection 1(d) and Section 6, as follows: (i) 85,000 Option Shares vest July 1, 1997, (ii) 55,000 Option Shares vest on January 1, 1998, (iii) 55,000 Option Shares vest July 1, 1998; (iv) 55,000 Option Shares vest January 1, 1999 (each an "Installment") at the Option Price, so long as the Holder is employed by the Corporation, ACTV, Inc. or any affiliate or subsidiary of ACTV, Inc. (collectively, the "ACTV Group"). Said right shall be cumulative. With respect to each Installment, the "Option Period" shall commence on the date said Installment vests and terminate on June 2, 2007.
Option to Purchase Common Stock a. Subject to Section 12 hereof, the Corporation hereby grants to the Employee an option (the "Option") to purchase from the Corporation 613,035 Option Shares, at a purchase price of $1.50 per Option Share (the "Option Price"). The Employee's right and option to purchase the Option Shares are fully vested. With respect to the Option, the "Option Period" shall commence on the date hereof and terminate on December 31, 2002.
Option to Purchase Common Stock a. The Corporation hereby grants to the Holder an option (the "Option") to purchase from the Corporation 290,000 Option Shares, at a purchase price of $1.90 per Option Share (the "Option Price"). The Holder's right and option to purchase the Option Shares shall vest, subject to subsection 1(d) and Section 6, as follows: (i) 95,000 Option Shares vest on July 1, 1997; (ii) 65,000 vest on January 1, 1998; (iii) 65,000 Option Shares vest on July 1, 1998, and (iv) 65,000 Option Shares vest on January 1, 1999 (each an "Installment") at the Option Price, so long as the Holder is employed by the Corporation. Said right shall be cumulative. With respect to each Installment, the "Option Period" shall commence on the date said Installment vests and terminate on March 14, 2007.
Option to Purchase Common Stock a. Subject to Section 5 hereof, the Corporation hereby grants to the Employee an option (the "Option") to purchase from the Corporation 1,473,000 vested Option Shares, excluding options previously exercised, at a purchase price of $1.50 per Option Share (the "Option Price"). With respect to the Option, the "Option Period" shall commence on the date hereof and terminate on December 31, 2003.
Option to Purchase Common Stock. The senior management of the Company will recommend that the Board grant the Executive an option to purchase 125,000 shares of the Company’s common stock, $0.00001 par value per share (the “Common Stock”) having an exercise price equal to the fair market value of the Company’s Common Stock as of the grant date and that such stock option shall have a term of ten (10) years (the “Option”).
Option to Purchase Common Stock a. Subject to Section 12 hereof, the Corporation hereby grants to the Employee an option (the "Option") to purchase from the Corporation 50,000 Option Shares, at a purchase price of $1.50 per Option Share (the "Option Price"). The Employee's right and option to purchase 33,332 Option Shares shall vest immediately; 8,333 of the Option Shares shall vest August 15, 1997 and 8,334 shall vest August 15, 1998, so long as the Employee is employed by the Corporation. Said right shall be cumulative so that as of August 15, 1998, Optionee shall have the fully vested right to purchase 50,000 Option Shares. In the event that the Employee's employment with the Corporation terminates prior to August 15 of any year, the Employee shall not have the right or option to purchase any part of the installment of Option Shares that would have otherwise vested on such August 15. With respect to the Option, the "Option Period" shall commence on the date hereof and terminate on December 31, 2002.
Option to Purchase Common Stock a. Subject to Section 12 hereof, the Corporation hereby grants to the Optionee, pursuant to the Option Plan, an option (the "Option") to purchase from the Corporation Option Shares, at a purchase price of $2.625 per Option Share (the "Option Price"). The Optionee's right and option to purchase the Option Shares shall vest annually commencing December 17, 1998 as follows: (i) 20,000 Option Shares vest on December 17, 1998; (ii) 20,000 Option Shares vest on December 17, 1999; and (iii) 20,000 Option Shares vest on December 17, 2000 (each an "Installment") at the Option Price, so long as the Optionee is employed by the Corporation. Said right shall be cumulative. In the event that the Optionee's employment with the Corporation terminates prior to December 17 of any year, the Optionee shall not have the right or option to purchase any part of an Installment which would have otherwise vested on such December 17. With respect to the Option, the "Option Period" shall commence on the date hereof and terminate on December 16, 2003.
Option to Purchase Common Stock. The Company hereby grants Executive ------------------------------- an option to purchase fifty thousand (50,000) shares of common stock of the Company. The terms and conditions of this option shall be set forth in a separate Option Agreement, a copy of which shall be attached as Exhibit B to this Agreement.
Option to Purchase Common Stock. Promptly following the Effective Date, the senior management of the Company will recommend that the Board grant the Executive an option (the "Option") to purchase 1,000,000 shares of the Company's Common Stock pursuant to the Company's 2004 Equity Incentive Plan (the "Plan") at an exercise price per share equal to the fair market value of a share of the Company's Common Stock as of the date of such grant, as determined by the Board, and subject to the following vesting schedule: 1/36 of the shares subject to the Option shall vest on each monthly anniversary of the date of this Agreement, subject to Executive's Continuous Service (as defined in the Plan) through each such date. Notwithstanding the above, the Option will vest immediately with respect to 100% of any then unvested or unreleased shares upon a Termination Other Than For Cause.
