Restricted Stock and Options. Xx. Xxxxxx shall participate in such restricted stock and option plans of the Company as are made available generally to senior executive officers of the Company. Any grants under such plans shall be made by the Board of Directors (or appropriate committee thereof) in its sole discretion and such plans are subject to change during the Term at the sole discretion of the Company.
Restricted Stock and Options. Effective as of the Effective Date, the Executive was granted 75,000 shares of the Company's Common Stock, $1.00 par value ("Common Stock"). Such shares are subject to four year vesting on the basis of 18,750 shares of Common Stock on each anniversary of the Effective Date; provided, however, if the employment of the Executive under this Agreement is terminated prior to the shares being fully vested for any reason other than by the Company for Cause or Disability, the death of the Executive or by the Executive for any reason other than for Good Reason, such shares shall become vested on the termination date. Until the shares of Common Stock so granted are vested, the Executive may not transfer, pledge or dispose of the unvested shares. The Executive, however, may vote any unvested shares and be entitled to receive any dividends or distributions (other than noncash distributions, which shall be subject to the same vesting restrictions as the shares of Common Stock for which such distributions were received). The Company may also hold the unvested shares until they have vested. The Executive may elect to deliver shares of Common Stock (valued at their then current market price) to the Company in satisfaction of any withholding obligation the Company may have on the vesting of such shares. Such shares shall be subject to accelerated vesting as provided in Section 4(a). Such shares shall also be subject to accelerated vesting on a change of control as defined in the Company's form of stock option agreement, with the merger on May 27, 1998 of Weatxxxxxxx Xxxerra, Inc. with and into the Company not resulting in any acceleration of such vesting. Effective as of the Effective Date, the Executive also received options under the Company's stock option plan to purchase an aggregate of 100,000 shares of Common Stock at an exercise price per share equal to the closing sale price of a share of Common Stock on the Effective Date, which options are subject to three year vesting on the basis of one-third of the shares per year, with the merger on May 27, 1998 of Weatxxxxxxx Xxxerra, Inc. not resulting in any acceleration of such vesting. In connection with the Company's spin-off of its Grant Prideco drilling products division, the above restricted stock and options will be adjusted to represent shares
Restricted Stock and Options. 4.1 The Company confirms that it will exercise its discretion having received approval of the Compensation Committee of the Xxxxx Xxxxxxx Company board of directors (on 1 November 2010) under the Restricted Stock Scheme to allow for early vesting on 31 January 2011 of the 34,075 units of the Employee’s granted but unvested restricted stock.
Restricted Stock and Options. (a) The Company shall take such actions as are necessary with respect to any restricted stock agreement between the Company and any employee of the Company to provide that the shares issued to any holder of restricted stock in the Recapitalization shall be issued with regard to, and shall remain subject to, the restrictions set forth in such restricted stock agreement.
Restricted Stock and Options. Executive shall participate in such restricted stock and option plans of the Company as are made available generally to senior executive officers of the Company. Any grants under such plans shall be made by the Board of Directors (or appropriate committee thereof) in its sole discretion and such plans are subject to change during the Term at the sole discretion of the Company.
Restricted Stock and Options. We mutually acknowledge that as of the date hereof you are the holder of 103,795 shares of Ekco Group, Inc. Common Stock, $.01 par value ("Shares") which are subject to Restricted Stock Purchase Agreements (the "Restricted Shares") and rights to purchase up to 797,718 Shares ("Options") pursuant to Stock Option Agreements (the "Option Agreements"). Effective as of the later of the eighth day following your execution of this Agreement and the Separation Date, the Company waives its rights to repurchase the Restricted Shares and waives all restrictions on transfer with respect to such shares other than those imposed by applicable federal and state securities laws. The Company agrees not to exercise any right of repurchase prior to such date. You and the Company agree that all of your Options and rights under the Stock Option Agreements are hereby terminated, except for Options to purchase up to 124,000 Shares pursuant to a Stock Option Agreement dated June 22, 1988 and Options to purchase up to 69,000 Shares pursuant to a Stock Option Agreement dated January 18, 1990 (together, the "Remaining Option Agreements") which shall remain in full force and effect in accordance with their terms and which shall remain exercisable in accordance with their terms until June 4, 1997. Upon execution of this Agreement the Company will issue to you the Performance Units Rights Awards Mr. Robexx Xxxxx Xxxember 4, 1996 Page 5 attached hereto as EXHIBITS 1-5. The Company represents that the grant of the Performance Units Rights Awards to you are exempt purchases pursuant to Rule 16b-3 and agrees to indemnify, defend and hold you harmless from all liabilities (including reasonable attorneys fees) arising out of the breach of this representation. Promptly upon payment of the full purchase price in accordance with the terms of the Remaining Option Agreements, the Company will deliver you the certificates representing such Shares in accordance with the terms of the Remaining Option Agreements. You acknowledge that upon waiver of the right of repurchase you will be deemed to have compensation income for federal income tax purposes equal to the fair market value of the Shares less the purchase price you paid for the Shares, and that the Company is required to withhold no less than 28% of the amount of such income. Further, you acknowledge that upon exercise of the Options you will also be deemed to have income for federal income tax purposes equal to the fair market value of the Shar...
Restricted Stock and Options. Full vesting of all restricted stock, and stock options and phantom stock options (collectively "Options") with the lesser of three (3) years from his Termination Date or ten (10) years from the date the Options were granted in which to exercise his Options pursuant to the terms of the Executive's Option or Supplemental Option Agreements;
Restricted Stock and Options. Full vesting of all restricted stock, phantom restricted stock, and stock options and phantom stock options (collectively "Options") with the exercise period being the lesser of three (3) years from the Executive's Termination Date or of the exercise period stated in the Executive's applicable Option or Supplemental Option Agreements, subject to the terms of the agreements governing such Options.
Restricted Stock and Options. Except as otherwise provided in Section 3(c), vesting of restricted stock and stock options held by Employee will cease on the Separation Date at which time any vested options can be exercised until the earlier of the first anniversary of the Separation Date or the expiration of the option’s term, and all unvested options and restricted stock will be forfeited on the Separation Date. Employee acknowledges that until December 28, 2013, he may not sell any shares of the Company’s common stock that he may acquire upon exercise of the 450,000 options granted to the Employee on December 28, 2011 pursuant to Section 4(a) of the Incentive Stock Option Award Agreement between the Company and the Employee dated as of December 28, 2011.
Restricted Stock and Options. From May 1, 2005 through December 31, 2009, the Employee shall be eligible for ten semi-annual awards of restricted stock of the Company (“Restricted Stock Awards”). Each semi-annual Restricted Stock Award shall be for a number of shares that as of the date of such award have an aggregate Fair Market Value (as defined in the appropriate stock incentive plan) of $25,000. The Restricted Stock Awards shall be subject to vesting terms consistent with such terms under the most recent Restricted Stock Agreement issued to the Employee prior to the Effective Date, including the provision for full vesting in the event of the Employee’s death, and shall be subject to all other terms and conditions of the plan and award agreements under which the Restricted Stock Awards are granted. Notwithstanding the foregoing, for purposes of determining the exercisability and term of stock options and vesting of restricted stock granted to the Employee prior to April 30, 2005 (including Restricted Stock Awards granted hereunder), the Employee shall be deemed to have retired effective April 30, 2005, and for purposes of the Restricted Stock Awards granted hereunder after April 30, 2005 the Executive shall not be eligible for vesting due to retirement.
