Option Grant Contract Clauses (69)

Option Grant. In accordance with the terms of the Plan and subject to the terms and conditions of this Agreement, the Company hereby grants to the Participant an option to purchase all or any part of an aggregate of 100,000 of the Company's shares of Stock (the "Option"). The Participant may exercise this Option prior to the expiration of its term only after it has become exercisable in accordance with the provisions of Section 4. This Option is a nonqualified option and is not intended to be an incentive sto...ck option within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended. View More

Option Grant. (a) Subject to the terms and conditions set forth herein, the Company hereby grants to the Key Employee an option (the "Option") to purchase from the Company all or any part of the aggregate number of Shares (hereinafter referred to as the "Option Stock") set forth on the signature page hereof, at the exercise price per Share set forth on the signature page hereof. The Option may not be exercised prior to the Initial Exercise Date set forth on the signature page hereof or after the Expiration Da...te set forth thereon, except that other than as provided in Section 3 herein, the Option shall not be exercisable after the termination of the Key Employee's employment with the Company and all Affiliates. Absence of the Key Employee on leave approved by a duly elected officer of the Company, other than the Key Employee, shall not be considered a termination of employment during the period of such leave. The Option may be exercised in whole or in part (but any exercise shall be for whole Shares) by notice in writing to 1 the Company. The aggregate exercise price for the Shares for which the Option is exercised shall be paid to the Company at the time of exercise in cash, Shares registered in the name of the Key Employee, by reduction in the number of Shares otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate exercise price or by any combination of the foregoing methods. The approval of the Board of the Company is required in order for Shares held by the Key Employee for fewer than six months to be used in payment of the exercise price of the Option. The Option shall not be an Incentive Stock Option for purposes of Section 422 of the Code. (b) If the exercise price is paid wholly or partly in Shares registered in the name of the Key Employee or by reduction in the number of Shares otherwise deliverable upon exercise of the Option, any Shares tendered in payment thereof shall be free of all adverse claims and duly endorsed in blank by the Key Employee or accompanied by stock powers duly endorsed in blank. Shares tendered or withheld shall be valued at Fair Market Value on the date on which the Option is exercised. As used herein, "Fair Market Value" means the per Share closing price on the date in question in the principal market in which the Shares are then traded or, if no sales of Shares have taken place on such date, the closing price on the most recent date on which selling prices were quoted; provided, however, that the Committee, in its sole discretion, may elect to determine Fair Market Value with respect to such Shares, based on the average of the closing prices, as of the date of determination and a period of up to 20 trading days immediately preceding such date. If such proviso is to be applicable, the signature page hereof sets forth the number of trading days in such period. View More

Option Grant. Subject to the approval of the Board, the Company hereby agrees to make a one time grant to the executive of a stock option to purchase up to 90,000 shares of the Company's Common Stock, par value $0.0001 per share (the "Stock Option"). The Stock Option will vest in twelve monthly installments beginning on May 15, 2021. The exercise price per share under the Stock Option shall be the closing price of the Common Stock on the date the Board approves the Stock Option.

Option Grant. The proper officers on behalf of the Company and each Optionee shall execute a Stock Option Agreement in such form or forms as the Committee may determine from time to time (the "Option Agreement) which shall set forth the total number of shares of Common Stock to which it pertains, the exercise price, whether it is a Nonqualified Stock Option or an Incentive Stock Option, and such other terms, conditions, restrictions and privileges as the Committee in each instance shall deem appropriate, prov...ided that they are not inconsistent with the terms, conditions and provisions of this Plan. Each Optionee shall receive a copy of his executed Option Agreement. Any Option granted with the intention that it will be an Incentive Stock Option but which fails to satisfy a requirement for Incentive Stock Options shall continue to be valid and shall be treated as a Nonqualified Stock Option. View More

Option Grant. The parties agree that the employees of the Company and its subsidiaries as a group shall be eligible to be granted annually for ten (10) years beginning on the date of the Original Agreement options to acquire up to 2,000,000 shares of Class A Common Stock, provided that the exercise date of each option is not earlier than November 1, 2022 and each option is granted at no less than the fair market value of the shares of Class A Common Stock into which such option is exercisable.

Option Grant. (a) Date option grant authorized: January 9, 2014 (b) Number of shares: 30,000 (c) Exercise Price: $2.90 (d) Form of options (select one): o Incentive Stock Options x Non-Qualified Stock Options 2. Acknowledgements. (a) Recipient is an employee of the Company (the "Company/Recipient Relationship"). (b) The Board has this day approved the granting of this Option subject to the execution and delivery of this Agreement; (c) The Board has authorized the granting to Recipient of a non-statutory stock... option (the "Option") to purchase up to 30,000 shares (collectively, the "Option Shares") of common stock of the Company ("Common Stock") upon the terms and conditions hereinafter stated and pursuant to an exemption from registration under the Securities Act of 1933, as amended (the "Securities Act"); and (d) This Agreement is further subject to the Company's 2006 Long-Term Incentive Plan. 1 3. Option Shares; Price. The Company hereby grants to Recipient the right to purchase, upon and subject to the terms and conditions herein stated, the Option Shares for cash (or other consideration as is authorized hereunder) at the price per Option Share set forth in Section 1 above (the "Exercise Price"), such price being not less than [e.g., 100%] of the fair market value per share of the Option Shares covered by this Option as of the date of grant. For purposes of the Options, the "fair market value" of the Company's common stock is the closing price of the common stock as quoted on the OTCQB on January 9, 2014. View More

Option Grant. The Company hereby grants to the Non-Employee Director an initial Option to purchase from the Company all or any part of 4,000 Shares in accordance with Section 10.1(a) of the Company's 2001 Omnibus Plan at the purchase price set forth on the signature page of this Agreement.