Grant of Option Clause Example with 77 Variations from Business Contracts
This page contains Grant of Option clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Grant of Option. The Administrator of the Company hereby grants to the Participant named in the Notice of Stock Option Grant in Part I of this Agreement ("Participant"), an option (the "Option") to purchase the number of Shares set forth in the Notice of Stock Option Grant, at the exercise price per Share set forth in the Notice of Stock Option Grant (the "Exercise Price"), and subject to the terms and conditions of the Plan, which is incorporated herein by reference. Subject to the Plan, in the event of a confl...ict between the terms and conditions of the Plan and this Option Agreement, the terms and conditions of the Plan shall prevail. If designated in the Notice of Stock Option Grant as an Incentive Stock Option ("ISO"), this Option is intended to qualify as an Incentive Stock Option as defined in Section 422 of the Code. Nevertheless, to the extent that it exceeds the $100,000 rule of Code Section 422(d), this Option shall be treated as a Nonstatutory Stock Option ("NSO"). Further, if for any reason this Option (or portion thereof) shall not qualify as an ISO, then, to the extent of such nonqualification, such Option (or portion thereof) shall be regarded as a NSO granted under the Plan. In no event shall the Administrator, the Company or any Parent or Subsidiary or any of their respective employees or directors have any liability to Participant (or any other person) due to the failure of the Option to qualify for any reason as an ISO.View More
Variations of a "Grant of Option" Clause from Business Contracts
Grant of Option. The Administrator of the Company hereby grants to the Participant individual named in the Notice of Stock Option Grant in Part I of this Award Agreement ("Participant"), (the "Participant") an option (the "Option") to purchase the number of Shares Shares, as set forth in the Notice of Stock Option Grant, this Award Agreement, at the exercise price per Share set forth in the Notice of Stock Option Grant this Award Agreement (the "Exercise Price"), and subject to all of the terms and conditions of... in this Award Agreement and the Plan, which is incorporated herein by reference. Subject to the Plan, in In the event of 1 a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Award Agreement, the terms and conditions of the Plan shall prevail. If designated in the Notice of Stock Option Grant as an Incentive Stock Option ("ISO"), this Option is intended to qualify as an Incentive Stock Option as defined in Section 422 of the Code. Nevertheless, to the extent that it exceeds the $100,000 rule of Code Section 422(d), this Option shall be treated as a Nonstatutory Stock Option ("NSO"). Further, if for any reason this Option (or portion thereof) shall not qualify as an ISO, then, to the extent of such nonqualification, such Option (or portion thereof) shall be regarded as a NSO granted under the Plan. In no event shall the Administrator, the Company or any Parent or Subsidiary or any of their respective employees or directors have any liability to Participant (or any other person) due to the failure of the Option to qualify for any reason as an ISO.View More
Grant of Option. The Administrator of the Company hereby grants to the Participant individual named in the Notice of Stock Option Grant in Part I of this Award Agreement ("Participant"), (the "Participant") an option (the "Option") to purchase the number of Shares Shares, as set forth in the Notice of Stock Option Grant, this Award Agreement, at the exercise price per Share set forth in the Notice of Stock Option Grant this Award Agreement (the "Exercise Price"), and subject to all of the terms and conditions of... in this Award Agreement and the Plan, which is incorporated herein by reference. Subject to the Plan, in In the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Award Agreement, the terms and conditions of the Plan shall prevail. If designated in the Notice of Stock Option Grant as an Incentive Stock Option ("ISO"), this Option is intended to qualify as an Incentive Stock Option as defined in Section 422 of the Code. Nevertheless, to the extent that it exceeds the $100,000 rule of Code Section 422(d), this Option shall be treated as a Nonstatutory Stock Option ("NSO"). Further, if for any reason this Option (or portion thereof) shall not qualify as an ISO, then, to the extent of such nonqualification, such Option (or portion thereof) shall be regarded as a NSO granted under the Plan. In no event shall the Administrator, the Company or any Parent or Subsidiary or any of their respective employees or directors have any liability to Participant (or any other person) due to the failure of the Option to qualify for any reason as an ISO.View More
Grant of Option. The Administrator of the Company hereby Board grants to the Participant named in the Notice of Stock Option Grant in Part I of this Agreement ("Participant"), an option (the "Option") Option Agreement, the Option to purchase the number of Shares set forth in the Notice of Stock Option Grant, at the exercise price per Share set forth in the Notice of Stock Option Grant (the "Exercise Price"), and subject to the terms and conditions of the Plan, which is incorporated herein by reference. Subject t...o the Plan, in the event of a conflict between the terms and conditions of the Plan and this Option Agreement, Agreement. -8- 3. Exercise of Option. (a) Right to Exercise. The Option shall be exercisable during its term in accordance with the terms and conditions of the Plan shall prevail. If designated Vesting Schedule set out in the Notice of Stock Option Grant as an Incentive Stock Option ("ISO"), and Exhibit B and with the applicable provisions of this Option is intended to qualify as an Incentive Stock Option as defined in Section 422 Agreement. (b) Method of the Code. Nevertheless, to the extent that it exceeds the $100,000 rule of Code Section 422(d), this Exercise. The Option shall be treated exercisable by delivery of an exercise notice in the form attached as Exhibit A (the "Exercise Notice") or in a Nonstatutory Stock manner and pursuant to such procedures as the Administrator may determine, which shall state the election to exercise the Option, the number of Shares with respect to which the Option ("NSO"). Further, if for is being exercised (the "Exercised Shares"), and such other representations and agreements as may be required by the Company. The Exercise Notice shall be accompanied by payment of the aggregate Exercise Price as to all Exercised Shares, together with any reason this applicable tax withholding. The Option (or portion thereof) shall not qualify as an ISO, then, be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by the aggregate Exercise Price, together with any applicable tax withholding. No Shares shall be issued pursuant to the extent exercise of an Option unless such nonqualification, issuance and such Option (or portion thereof) exercise comply with Applicable Laws. Assuming such compliance, for income tax purposes the Shares shall be regarded as a NSO granted under the Plan. In no event shall the Administrator, the Company or any Parent or Subsidiary or any of their respective employees or directors have any liability considered transferred to Participant (or any other person) due to on the failure of date on which the Option is exercised with respect to qualify for any reason as an ISO. such Shares. View More
Grant of Option. The Administrator of the Company hereby grants to the Participant Optionee named in the this Notice of Stock Option Grant in Part I of this Agreement ("Participant"), (the "Optionee"), an option (the "Option") to purchase the number of Shares shares (the "Shares") set forth in the Notice of Stock Option Grant, at the exercise price per Share set forth in the Notice of Stock Option Grant (the "Exercise Price"), and subject to the terms and conditions of this Agreement and the Plan, which is are i...ncorporated herein by reference. Subject to the Plan, in In the event of a conflict between the terms and conditions of the Plan and this Option Agreement, the terms and conditions of the Plan shall prevail. If designated prevail.2. Exercise of Option. (a) Right to Exercise. This Option shall be exercisable during its term in accordance with the applicable provisions of the Plan and this Agreement. (b) Method and Time of Exercise. This Option shall be exercisable by any method permitted by the Plan and this Agreement that is made available from time to time by the external third party administrator of the Option awards. An exercise may be made with respect to whole Shares only, and not for a fraction of a Share. Shares shall not be issued under the Plan unless the issuance and delivery of such Shares comply with (or are exempt from) all applicable requirements of law, including (without limitation) the Securities Act, the rules and regulations promulgated thereunder, state securities laws and regulations, and the regulations of any stock exchange or other securities market 1 on which the Company's securities may then be traded. The Compensation Committee (the "Committee") of the Company's Board of Directors may require the Optionee to take any reasonable action in order to comply with any such rules or regulations. Assuming such compliance, for income tax purposes the Shares shall be considered transferred to the Optionee on the date the Option is exercised with respect to such Shares. (c) Acknowledgment of Potential Securities Law Restrictions. Unless a registration statement under the Securities Act covers the Shares issued upon exercise of an Option, the Committee may require that the Optionee agree in writing to acquire such Shares for investment and not for public resale or distribution, unless and until the Shares subject to the Award are registered under the Securities Act. The Committee may also require the Optionee to acknowledge that he or she shall not sell or transfer such Shares except in compliance with all applicable laws, and may apply such other restrictions as it deems appropriate. The Optionee acknowledges that the U.S. federal securities laws prohibit trading in the Notice of Stock Option Grant as an Incentive Stock Option ("ISO"), this Option is intended to qualify as an Incentive Stock Option as defined in Section 422 stock of the Code. Nevertheless, Company by persons who are in possession of material, non-public information, and also acknowledges and understands the other restrictions set forth in the Company's Insider Trading Policy. (d) Fractional Shares. The Company will not issue fractional shares of Common Stock upon the exercise of an Option. Any fractional share will be rounded up and issued to the Optionee in a whole share. (e) Automatic Exercise Upon Expiration Date. Notwithstanding any other provision of this Agreement (other than this Section), on the last trading day on which all or a portion of the outstanding Option may be exercised, if as of the close of trading on such day the then Fair Market Value of a share of Common Stock exceeds the per share Exercise Price of the Option by at least $.01 (such expiring portion of the Option that is so in-the-money, an "Auto-Exercise Eligible Option"), Optionee will be deemed to have automatically exercised such Auto-Exercise Eligible Option (to the extent it has not previously been exercised or forfeited) as of the close of trading in accordance with the provisions of this Section. In the event of an automatic exercise pursuant to this Section, the Company will reduce the number of shares of Common Stock issued to Optionee upon such automatic exercise of the Auto-Exercise Eligible Option in an amount necessary to satisfy (1) Optionee's Exercise Price obligation for the Auto-Exercise Eligible Option, and (2) the minimum, applicable Federal, state, local and, if applicable, foreign income and employment tax and social insurance withholding requirements arising upon the automatic exercise in accordance with the procedures of Section 6(f) of the Plan (unless the Committee deems that a different method of satisfying the tax withholding obligations is practicable and advisable), in each case based on the Fair Market Value of the Common Stock as of the close of trading on the date of exercise. Optionee may notify the Plan record-keeper in writing in advance that Optionee does not wish for the Auto-Exercise Eligible Option to be exercised. This Section shall not apply to the Option to the extent that it exceeds the $100,000 rule of Code this Section 422(d), this Option shall be treated as a Nonstatutory Stock Option ("NSO"). Further, if for any reason this Option (or portion thereof) shall not qualify as an ISO, then, to the extent of such nonqualification, such Option (or portion thereof) shall be regarded as a NSO granted under the Plan. In no event shall the Administrator, the Company or any Parent or Subsidiary or any of their respective employees or directors have any liability to Participant (or any other person) due to the failure of causes the Option to fail to qualify for favorable tax treatment under applicable law. In its discretion, the Company may determine to cease automatically exercising Options at any reason as an ISO. time. View More
Grant of Option. The Administrator of the Company hereby grants to the Participant named in the Notice of Stock Option Grant in attached as Part I of this Award Agreement ("Participant"), (the "Participant") an option (the "Option") to purchase the number of Shares (as defined below), as set forth in the Notice of Stock Option Grant, at the exercise price per Share set forth in the Notice of Stock Option Grant (the "Exercise Price"), and subject to all of the terms and conditions of in this Award Agreement and t...he Plan, which is incorporated herein by reference. Subject to the Plan, in In the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Award Agreement, the terms and conditions of the Plan shall will prevail. If designated in the Notice of Stock Option Grant as an Incentive Stock Option ("ISO"), this Option is intended to qualify as an Incentive Stock Option as defined in Section 422 of the Code. Nevertheless, to the extent that it exceeds the $100,000 rule of Code Section 422(d), this Option shall be treated as a Nonstatutory Stock Option ("NSO"). Further, if for any reason this Option (or portion thereof) shall not qualify as an ISO, then, to the extent of such nonqualification, such Option (or portion thereof) shall be regarded as a NSO granted under the Plan. In no event shall the Administrator, the Company or any Parent or Subsidiary or any of their respective employees or directors have any liability to Participant (or any other person) due to the failure of the Option to qualify for any reason as an ISO.View More
Grant of Option. The Administrator of the Company hereby grants to the Participant named in the Notice of Stock Optionee has been granted an Option Grant in Part I of this Agreement ("Participant"), an option (the "Option") to purchase for the number of Shares set forth in the Notice of Stock Option Grant, at the exercise price per Share in U.S. Dollars set forth in the Notice of Stock Option Grant (the "Exercise Price"), and subject to the terms and conditions of the Plan, which is incorporated herein by refere...nce. Subject to the Plan, in the event of a conflict between the terms and conditions of the Plan and this Option Agreement, the terms and conditions of the Plan shall prevail. If Price"). [If designated in the Notice of Stock Option Grant as an Incentive Stock Option ("ISO"), this the Option is intended to qualify as an Incentive Stock Option as defined in under Section 422 of the Code. Nevertheless, However, if the Option is intended to be an ISO, to the extent that it exceeds the U.S. $100,000 rule of Code Section 422(d), this Option shall 422(d) it will be treated as a Nonstatutory Nonqualified Stock Option ("NSO"). Further, if for any reason this Option (or portion thereof) shall not qualify as an ISO, then, to the extent of such nonqualification, such Option (or portion thereof) shall be regarded as a NSO granted under the Plan. In no event shall the Administrator, the Company or any Parent or Subsidiary or any of their respective employees or directors have any liability to Participant (or any other person) due to the failure of the Option to qualify for any reason as an ISO. ("NSO").] View More
Grant of Option. The Administrator of the Company hereby grants to the Participant named in the Notice of Stock Optionee has been granted an Option Grant in Part I of this Agreement ("Participant"), an option (the "Option") to purchase for the number of Shares set forth in the Notice of Stock Option Grant, at the exercise price per Share in U.S. Dollars set forth in the Notice of Stock Option Grant (the "Exercise Price"), and subject to the terms and conditions of the Plan, which is incorporated herein by refere...nce. Subject to the Plan, in the event of a conflict between the terms and conditions of the Plan and this Option Agreement, the terms and conditions of the Plan shall prevail. Price"). If designated in the Notice of Stock Option Grant as an Incentive Stock Option ("ISO"), this the Option is intended to qualify as an Incentive Stock Option as defined in under Section 422 of the Code. Nevertheless, However, if the Option is intended to be an ISO, to the extent that it exceeds the U.S. $100,000 rule of Code Section 422(d), this Option shall 422(d) it will be treated as a Nonstatutory Nonqualified Stock Option ("NSO"). Further, if for any reason this Option (or portion thereof) shall not qualify as an ISO, then, to the extent of such nonqualification, such Option (or portion thereof) shall be regarded as a NSO granted under the Plan. In no event shall the Administrator, the Company or any Parent or Subsidiary or any of their respective employees or directors have any liability to Participant (or any other person) due to the failure of the Option to qualify for any reason as an ISO.View More
Grant of Option. The Administrator of the Company hereby grants to the Participant Optionee named in the Notice of Stock Option Grant in Part I of this Agreement ("Participant"), provided to said Optionee herewith (the "Optionee") an option (the "Option") to purchase the number of Shares shares of Stock ("Shares") as set forth in the Notice of Stock Option Grant, at the exercise price per Share share set forth in the Notice of Stock Option Grant (the "Exercise Price"), and subject to the terms and conditions of ...the Plan, which is incorporated herein by reference. Subject to the Plan, in In the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and conditions of the Plan shall prevail. If prevail.If designated in the Notice of Stock Option Grant as an Incentive Stock Option ("ISO"), this Option is intended to qualify as an Incentive Stock Option as defined in under Section 422 of the Code. Nevertheless, However, if this Option is intended to be an Incentive Stock Option, to the extent that it exceeds the $100,000 rule of Code Section 422(d), this Option 422(d) it shall be treated as a Nonstatutory Stock Option ("NSO"). Further, if for any reason ("NSO").2. Exercise of Option. (a) Right to Exercise. This Option is exercisable only before it expires and then only in accordance with the Vesting Schedule set out in the Notice of Grant and the applicable provisions of the Plan and this Option (or portion thereof) shall not qualify as an ISO, then, Agreement. The minimum number of Shares with respect to the extent of such nonqualification, such which this Option (or portion thereof) may be exercised, in whole or in part, shall be regarded as the lesser of (i) 100 Shares or (ii) the maximum number of Shares available under this Option at the time of exercise. This Option may not be exercised for a NSO granted under the Plan. In no event shall the Administrator, the Company or any Parent or Subsidiary or any fraction of their respective employees or directors have any liability to Participant (or any other person) due to the failure a share. No portion of the Option which has not become vested and exercisable at the date of the Optionee's termination of Service shall thereafter become vested and exercisable, except as may be otherwise provided in the Notice of Grant or as set forth in a written agreement between the Company and the Optionee. (b) Duration of Exercisability. The installments provided in the Vesting Schedules set forth in the Notice of Grant are cumulative. Each such installment which becomes vested and exercisable pursuant to qualify the Vesting Schedule set forth in the Notice of Grant shall remain vested and exercisable until it becomes unexercisable under Section 5. (c) Method of Exercise. This Option is exercisable by delivery of an exercise notice, in the form attached as Exhibit B-2 (or such other form as may then be required by the Committee at the time of exercise) (the "Exercise Notice"), which shall state the election to exercise the Option, the number of Shares in respect of which the Option is being exercised (the "Exercised Shares"), and such other representations and agreements as may be required by the Company pursuant to the provisions of the Plan. The Exercise Notice shall be completed by the Optionee and delivered to the Senior Stock Plan Administrator or such other person as designated by the Company from time to time. The Exercise Notice shall be accompanied by payment of the aggregate Exercise Price as to all Exercised Shares. The Optionee shall also be required to make adequate provision for all withholding taxes relating to the exercise as a condition to the exercise of the Option. This Option shall be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by the payment of such aggregate Exercise Price and arrangement for the adequate provision for the withholding taxes relating to the exercise. (d) No Shares shall be issued pursuant to the exercise of this Option unless such issuance, exercise, and the method of payment of consideration for such Shares complies with applicable laws or the requirements of any reason as stock exchange upon which the Shares may then be listed. Assuming such compliance, for income tax purposes the Exercised Shares shall be considered transferred to the Optionee on the date the Option is exercised with respect to such Exercised Shares.3. Method of Payment. Payment of the aggregate Exercise Price shall be by any of the following, or a combination thereof, at the election of the Optionee: (a) cash; or (b) check; or (c) by delivery (on a form prescribed by the Company) of an ISO. irrevocable direction to a licensed securities broker acceptable to the Company to sell Stock and to deliver all or part of the sale proceeds to the Company in payment of the aggregate Exercise Price and any withholding taxes; or (d) surrender of other shares of Stock which have a Fair Market Value on the date of the exercise equal to the aggregate Exercise Price of the shares of Stock with respect to which the Option or portion thereof is being exercised. View More
Grant of Option. The Administrator of the Company hereby grants to the Participant Optionee named in the Notice of Stock Option Grant in Part I of this Agreement ("Participant"), provided to said Optionee herewith (the "Optionee") an option (the "Option") to purchase the number of Shares shares of Stock ("Shares") as set forth in the Notice of Stock Option Grant, at the exercise price per Share share set forth in the Notice of Stock Option Grant (the "Exercise Price"), and subject to the terms and conditions of ...the Plan, which is incorporated herein by reference. Subject to the Plan, in In the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and conditions of the Plan shall prevail. If prevail.If designated in the Notice of Stock Option Grant as an Incentive Stock Option ("ISO"), this Option is intended to qualify as an Incentive Stock Option as defined in under Section 422 of the Code. Nevertheless, However, if this Option is intended to be an Incentive Stock Option, to the extent that it exceeds the $100,000 rule of Code Section 422(d), this Option 422(d) it shall be treated as a Nonstatutory Non Statutory Stock Option ("NSO"). Further, if for any reason ("NSO").2. Exercise of Option. (a) Right to Exercise. This Option is exercisable only before it expires and then only in accordance with the Vesting Schedule set out in the Notice of Grant and the applicable provisions of the Plan and this Option (or portion thereof) shall not qualify as an ISO, then, Agreement. The minimum number of Shares with respect to the extent of such nonqualification, such which this Option (or portion thereof) may be exercised, in whole or in part, shall be regarded as the lesser of (i) 100 Shares or (ii) the maximum number of Shares available under this Option at the time of exercise. This Option may not be exercised for a NSO granted under the Plan. In no event shall the Administrator, the Company or any Parent or Subsidiary or any fraction of their respective employees or directors have any liability to Participant (or any other person) due to the failure a share. No portion of the Option which has not become vested and exercisable at the date of the Optionee's termination of Service shall thereafter become vested and exercisable, except as may be otherwise provided in the Notice of Grant or as set forth in a written agreement between the Company and the Optionee. (b) Duration of Exercisability. The installments provided in the Vesting Schedules set forth in the Notice of Grant are cumulative. Each such installment which becomes vested and exercisable pursuant to qualify the Vesting Schedule set forth in the Notice of Grant shall remain vested and exercisable until it becomes unexercisable under Section 5. (c) Method of Exercise. This Option is exercisable by delivery of an exercise notice, in the form attached as Exhibit B (or such other form as may then be required by the Committee at the time of exercise) (the "Exercise Notice"), which shall state the election to exercise the Option, the number of Shares in respect of which the Option is being exercised (the "Exercised Shares"), and such other representations and agreements as may be required by the Company pursuant to the provisions of the Plan. The Exercise Notice shall be completed by the Optionee and delivered to the Senior Stock Plan Administrator or such other person as designated by the Company from time to time. The Exercise Notice shall be accompanied by payment of the aggregate Exercise Price as to all Exercised Shares. The Optionee shall also be required to make adequate provision for all withholding taxes relating to the exercise as a condition to the exercise of the Option. This Option shall be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by the payment of such aggregate Exercise Price and arrangement for the adequate provision for the withholding taxes relating to the exercise. (d) No Shares shall be issued pursuant to the exercise of this Option unless such issuance, exercise, and the method of payment of consideration for such Shares complies with applicable laws or the requirements of any reason as stock exchange upon which the Shares may then be listed. Assuming such compliance, for income tax purposes the Exercised Shares shall be considered transferred to the Optionee on the date the Option is exercised with respect to such Exercised Shares.3. Method of Payment. Payment of the aggregate Exercise Price shall be by any of the following, or a combination thereof, at the election of the Optionee: (a) cash; or (b) check; or (c) by delivery (on a form prescribed by the Company) of an ISO. irrevocable direction to a licensed securities broker acceptable to the Company to sell Stock and to deliver all or part of the sale proceeds to the Company in payment of the aggregate Exercise Price and any withholding taxes; or (d) surrender of other shares of Stock which have a Fair Market Value on the date of the exercise equal to the aggregate Exercise Price of the shares of Stock with respect to which the Option or portion thereof is being exercised. View More
Grant of Option. The Administrator of the Company hereby grants to the Participant named in the Notice of Stock has been granted an Option Grant in Part I of this Agreement ("Participant"), an option (the "Option") to purchase for the number of Shares set forth in the Notice of Stock Option Grant, at the exercise price per Share in U.S. Dollars set forth in the Notice of Stock Option Grant (the "Exercise Price"), and subject to the terms and conditions of the Plan, which is incorporated herein by reference. Subj...ect to the Plan, in the event of a conflict between the terms and conditions of the Plan and this Option Agreement, the terms and conditions of the Plan shall prevail. Price"). If designated in the Notice of Stock Option Grant as an Incentive Stock Option ("ISO"), this the Option is intended to qualify as an Incentive Stock Option as defined in under Section 422 of the Code. Nevertheless, However, if the Option is intended to be an ISO, to the extent that it exceeds the U.S. $100,000 rule of Code Section 422(d), this Option shall 422(d) it will be treated as a Nonstatutory Nonqualified Stock Option ("NSO"). Further, if for any reason this Option (or portion thereof) shall not qualify as an ISO, then, to the extent of such nonqualification, such Option (or portion thereof) shall be regarded as a NSO granted under the Plan. In no event shall the Administrator, the Company or any Parent or Subsidiary or any of their respective employees or directors have any liability to Participant (or any other person) due to the failure of the Option to qualify for any reason as an ISO.View More
