Stock Option. Subject to the approval of the Board or the Compensation Committee of the Board, Executive will be granted an option to purchase 210,000 shares of the Company’s common stock at a price per share equal to the closing trading price of a share of the Company’s common stock on the date of grant or the trading day immediately preceding the date of grant if the date of grant is not a trading day. Twenty-five percent (25%) of the shares subject to the option will vest on the first anniversary of the Effective Date, and the remaining shares subject to the option will vest in substantially equal monthly installments over the next 36 months thereafter, subject to Executive’s continued service to the Company through the applicable vesting date. This option will be subject to the terms and conditions of the Company’s 2022 Employment Inducement Award Plan and a stock option agreement to be entered into between Executive and the Company.
Stock Option. SubjectEquity Compensation. As an inducement to Executive's acceptance of employment, at the approvalfirst meeting of the Board orof Directors following the Compensation Committee of the Board,date on which Executive’s employment commences, Executive willshall be granted ana non-qualified stock option to purchase 210,50,000 shares of the Company’s common stockCommon Stock (the “Common Stock”), at a price per share exercise price equal to the closing trading pricefair market value of a share of the Company’s common stockCommon Stock on the date of the grant or(the “Option”) which Option shall vest as follows provided that Executive remains in service to the trading day immediately preceding the date of grant if the date of grant is not a trading day. Twenty-five percent (25%)Company: 25% of the shares subject to the option willOption shall vest on the firstone-year anniversary on the date of grant and 1/48th of the Effective Date, and the remainingtotal number of shares subject to the option willOption shall vest in substantially equal monthly installments overupon the next 36 months thereafter, subject to Executive’s continuedcompletion of each month of service to the Company through the applicable vesting date. This option will be subject to the terms and conditions of the Company’s 2022 Employment Inducement Award Plan and a stock option agreement to be entered into between Executive and the Company.thereafter.
Stock Option. Subject to the approval of the Board or the Compensation Committee of the Board,Options. The Executive willshall be granted an optionstock options under the Company’s 2011 Equity Incentive Plan entitling him to purchase 210,300,000 shares of the Company’s common stock of the Company at aan exercise price per share equal tocalculated as the closing trading price of a share of the Company’s common stock on the date of grant orClosing Date, as such term is defined in the trading day immediately preceding the date of grant if the date of grantPurchase Agreement (to which this Agreement is not a trading day. Twenty-five percent (25%) of the shares subject to the option willan exhibit), which options shall vest on the first anniversary of the Effective Date,40% after 24 months and thereafter the remaining shares subject to the option will vest60% in substantially equal monthly installments over the nextfollowing 36 months thereafter, subjectmonths, pursuant to Executive’s continued service to the Company through the applicable vesting date. This option will be subject to the terms and conditions of the Company’s 2022 Employment Inducement Award Plan and a customary stock option agreement that will contain the terms pertaining to be entered into betweenthe stock options set forth in this [Section 3(b)], which the Executive and the Company.Company shall enter into within ten (10) business days after this Agreement is executed by both of the parties.
Stock Option.Options. Subject to the approval of the Board or the Compensation Committeeand sole discretion of the Board, Executive willEmployee shall be granted ana non-qualified option (the “Option”) to purchase 210,acquire 475,000 shares of the Company’s common stock at a price per share equal to the closing trading price of a share of the Company’s common stock on the date of grant or the trading day immediately preceding the date of grant if the date of grant is not a trading day. Twenty-five percent (25%(the “Shares”) of the shares subject to the option will vest on the first anniversary of the Effective Date, and the remaining shares subject to the option will vest in substantially equal monthly installments over the next 36 months thereafter, subject to Executive’s continued service to the Company through the applicable vesting date. This option will, which shall be subject to the terms and conditions of the Company’s 2022 Employment Inducement Award2015 Stock Option Plan or 2021 Omnibus Equity Compensation Plan, as each may be amended from time to time, and a stock optionany associated equity and/or grant agreement required to be entered into between Executiveby Employee and the Company. The Shares will be subject to a four (4) year vesting schedule. Twenty-five percent of the Shares shall vest on the one (1) year anniversary of the date of grant (the “Vesting Commencement Date”), and the remaining Shares shall vest as follows: 25% of the Shares at the end of each successive twelve (12) month period following the Vesting Commencement Date, provided that the Employee is still employed by the Company pursuant to this Agreement on each respective Vesting Date. The exercise price of the Shares shall be determined on .
Stock Option. SubjectEquity. In consideration for his employment and subject to the approval of the Board, the Company will recommend to its current Board orthat the Compensation CommitteeExecutive be granted a 10-year stock option to purchase up to 560,000 shares of Companys common stock (the Shares) pursuant to the Companys Second Amended and Restated 2014 Employee, Director and Consultant Equity Incentive Plan as amended from time to time by the Company (the Plan), subject to the approval of the Board, ExecutiveBoard. The Shares will be granted anpursuant to a form of option to purchase 210,000 sharesagreement previously approved by the Board. The options will vest in 3 equal annual installments on the anniversary of the Company’s common stock atgrant date. Sixty (60) percent of those options will have a price per share equal to the closing tradingstrike price of athe current share price on the later of the Company’s common stock onday you join the company or the date of grant or the trading day immediately preceding the date of grant if the date of grant is not a trading day. Twenty-five percent (25%) of the shares subject to the option will vest on the first anniversary of the Effective Date,grant, and the remaining shares subject to the optionforty (40) percent will vest in substantially equal monthly installments over the next 36 months thereafter, subject to Executive’s continued service to the Company through the applicable vesting date. This option will be subject to the terms and conditionshave a strike price of the Company’s 2022 Employment Inducement Award Plan and a stock option agreement to be entered into between Executive and the Company. per share.
Stock Option. Subject to the approval of the Board or the Compensation Committee of the Board,Options. Executive willshall be granted an optionawards of options to purchase 210,000 shares of the Company’s common stock at a price per share equal to the closing trading price of a share of the Company’s common stock on the date of grant or the trading day immediately preceding the date of grant if the date of grant is not a trading day. Twenty-five percent (25%) of the sharesCommon Stock, subject to the option will vest on the first anniversary of the Effective Date,vesting and the remaining shares subject to the option will vest in substantially equal monthly installments over the next 36 months thereafter, subject to Executive’s continued service to the Company through the applicable vesting date. This option will be subject to theexercise requirements and other terms and conditions of the Company’s 2022 Employment Inducement AwardEquity Compensation Plan and a stock option agreementassociated award documents, and contingent upon Executive signing the applicable Incentive Stock Option Agreement in form and substance acceptable to be entered into between Executive and the Company.Company, as follows:
Stock Option. SubjectAs additional compensation, and subject to the approval of the Board or the Compensation Committee ofby the Board, Executiveyou will be granted an option as an inducement award pursuant Nasdaq Listing Rule 55635(c)(4), to purchase 210,0001,884,838 shares of Company common stock with an exercise price equal to the fair market value of the Company’s common stock at a price per share equal to the closing trading price of a share of the Company’s common stock on the date of grant or(the “Option”). The grant of the trading day immediately precedingOption will also be subject to the dateapproval of grant if the date of grant is not a trading day. Twenty-five percent (25%) ofCompany’s stockholders, to the extent required by applicable law. The shares subject to the optionOption will vest over a 48 month period with 25% vesting on the firstone year anniversary of the Effective Date,your commencing employment as Chief Executive Officer under this Offer Letter and the remaining shares subject to the option will vestbalance in substantially equal monthly installments over the next 36 months thereafter, subject to Executive’syour continued service to the Company through the applicable vesting date. This option will be subject to the terms and conditions of the Company’s 2022 Employment Inducement Award Plan and a stock option agreement to be entered into between Executive and the Company.
Company’s Common Stock Option. Subject to the approval(the “Option”). The exercise price per share of the Option will be determined by the Board of Directors or the Compensation Committee ofwhen the Board, ExecutiveOption is granted. The Option will be subject to the terms and conditions applicable to options granted an option to purchase 210,000 shares ofunder the Company’s common stock at a price per share equal to the closing trading price of a share of the Company’s common stock on the date of grant or the trading day immediately preceding the date of grant if the date of grant is not a trading day. Twenty-five percent (25%2013 Equity Incentive Plan (the “Plan”) of the shares subject to the option will vest on the first anniversary of the Effective Date, and the remaining shares subject to the optionapplicable Stock Option Agreement. You will vest in substantially25% of the Option shares after 12 months of continuous service with the Company, and the balance will vest in equal monthly installments over the next 36 months thereafter, subject to Executive’s continued service to the Company throughof continuous service, as described in the applicable vesting date. This option will be subject to the terms and conditions of the Company’s 2022 Employment Inducement Award Plan and a stock option agreement to be entered into between Executive and the Company.Stock Option Agreement.
Stock Option.Option Award. Subject to the approval and sole discretion of the Board or the Compensation Committee of the Board, Executive willCompany’s Board of Directors, Employee shall be granted ana non-qualified option (the “Option”) to purchase 210,acquire 100,000 shares of the Company’s common stock at a price per share equal to the closing trading price of a share of the Company’s common stock on the date of grant or the trading day immediately preceding the date of grant if the date of grant is not a trading day. Twenty-five percent (25%(the “Shares”) of the shares subject to the option will vest on the first anniversary of the Effective Date, and the remaining shares subject to the option will vest in substantially equal monthly installments over the next 36 months thereafter, subject to Executive’s continued service to the Company through the applicable vesting date. This option will, which shall be subject to the terms and conditions of the Company’s 2022 Employment Inducement Award2015 Stock Option Plan or 2021 Omnibus Incentive Plan, in each case as amended from time to time, and a stock optionany associated equity and/or grant agreement required to be entered into between Executiveby Employee and the Company. The Shares will be subject to a performance-based vesting schedule to be determined by the Compensation Committee in consultation with the Chief Executive Officer. The exercise price of the Shares shall be determined on the first or fifteenth of the month following the Compensation Committee’s approval of the Option.
Stock Option. SubjectAs compensation for your services to the Company, the Company will, subject to the approval of the Board or the Compensation CommitteeBoard, grant you a nonstatutory stock option entitling you to purchase 109,775 (0.75% of 14,636,189 diluted shares) shares of common stock of the Board, Executive will be granted an option to purchase 210,000 shares of the Company’s common stock at aCompany (the Option). The exercise price per share will be equal to the closing trading price of a sharefair market value of the Company’Companys common stock on the date of grant orgrant, as determined by the trading day immediately preceding the date of grant if the date of grant is not a trading day. Twenty-five percent (25%)Board. The Option shall vest and become exercisable as to 25% of the shares subject to the option will vestOption on the first anniversary of your vesting commencement date and as to 1/48th of the Effective Date, and the remainingshares each month thereafter, subject to your continued service on such dates, such that all shares subject to the option will vestOption shall be fully vested after 4 years. Notwithstanding the foregoing, in substantially equal monthly installments over the next 36 months thereafter,event of a change of control (to be defined in the Option Agreement) of the Company, 100% of the shares subject to Executive’s continued service to the Company through the applicable vesting date. Thisyour option willshall automatically vest and become immediately exercisable. The Option shall be subject to the terms and conditions of the Company’Companys 2022 Employment Inducement AwardStock Plan (the Plan) and a stock option agreement (the Option Agreement) to be entered into between Executiveexecuted by you and the Company.Company, both of which are incorporated herein by reference. No right to any stock is earned or accrued until such time that vesting occurs, nor will the grant confer any right to continued vesting or to remain on the Board.
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