Common use of Amendment of Option Clause in Contracts

Amendment of Option. The option may be amended by the Board at any time (I) if the Board determines, in its sole discretion, that amendment is necessary or advisable in light of the Internal Revenue Code of 1986 or in the regulations issued thereunder, or any federal or state securities law or other law or regulation or (ii) other than in the circumstances described in clause (I), with the consent of the Optionee, unless the amendment would not adversely affect the Optionee.

Appears in 2 contracts

Samples: Stock Option Agreement (Pioneer Railcorp), Stock Option Agreement (Pioneer Railcorp)

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Amendment of Option. The option may be amended by the Board at any time (Ii) if the Board determines, in its sole discretion, that amendment is necessary or advisable in light of the Internal Revenue Code of 1986 or in the regulations issued thereunder, or any federal or state securities law or other law or regulation or (ii) other than in the circumstances described in clause (Ii), with the consent of the Optionee, unless the amendment would not adversely affect the Optionee.

Appears in 2 contracts

Samples: Stock Option Agreement (Pioneer Railcorp), Stock Option Agreement (Pioneer Railcorp)

Amendment of Option. The option Option may be amended by the Board at any time (Ii) if the Board determines, in its sole discretion, that amendment is necessary or advisable in light of any addition to or change in the Internal Revenue Code of 1986 or in the regulations issued thereunder, or any federal or state securities law or other law or regulation of regulation, which change occurs after the Date of Grant and by its terms applies to the Option; or (ii) other than in the circumstances described in clause (Ii), with the consent of the Optionee, unless the amendment would not adversely affect the OptioneeGrantee.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (NRG Generating U S Inc)

Amendment of Option. The option Option may be amended by the Board at any time (Ia) if the Board of Directors determines, in its sole discretion, that amendment is necessary or advisable in light of any addition to or change in the Internal Revenue Code of 1986 Code, or in the regulations issued thereunder, or any federal or state securities law or other law or regulation regulation, which change occurs after the Date of Grant and by its terms applies to the Option; or (iib) other than in the circumstances described in clause (Ia), with the consent of the Optionee, unless the amendment would not adversely affect the OptioneeGrantee.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Intrust Financial Corp /)

Amendment of Option. The option Option may be amended by the Board at any time (Ii) if the Board determines, in its sole discretion, that amendment is necessary or advisable in the light of any addition to or change in the Internal Revenue Code of 1986 or in the regulations issued thereunder, or any federal or state securities law or other law or regulation regulation, which change occurs after the Date of Grant and by its terms applies to the Option; or (ii) other than in the circumstances described in clause (Ii), with the consent of the Optionee, unless the amendment would not adversely affect the OptioneeGrantee.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Orlando Predators Entertainment Inc)

Amendment of Option. The option Option may be amended by the Board or the Committee at any time (Ii) if the Board or the Committee determines, in its sole discretion, that amendment is necessary or advisable in light of the Internal Revenue Code of 1986 or to conform to any changes in the regulations issued thereunder, or any federal or state securities law or other law or regulation which occurs after the Date of Grant and by its terms applies to the Option; or (ii) other than which the Board may deem to be in the circumstances described in clause (I)best interests of the Company, with provided that no amendment shall impair or negate any of the rights or obligations under this grant, without the consent of the Optionee, unless the amendment would not adversely affect the OptioneeGrantee.

Appears in 1 contract

Samples: Director Stock Option Plan Grant (TSG Ventures Lp)

Amendment of Option. The option Option may be amended by the Board at any time (Ii) if the Board determines, in its sole discretion, that amendment is necessary or advisable in the light of any addition to or change in the Internal Revenue Code of 1986 1986, including amendments, or in the regulations issued thereunder, or any federal or state securities law or other law or regulation regulation, which change occurs after the Date of Grant and by its terms applies to the Option; or (ii) other than in the circumstances described in clause (Ii), with the consent of the Optionee, unless the amendment would not adversely affect the OptioneeGrantee.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (U S Liquids Inc)

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Amendment of Option. The option Option may be amended by the Board Administrators at any time (Ii) if the Board determinesAdministrators determine, in its their sole and absolute discretion, that amendment is necessary or advisable in the light of any addition to or change in the Internal Revenue Code of 1986 or in the regulations issued thereunder, or any federal or state securities law or other law or regulation regulation, which change occurs after the Date of Grant and by its terms applies to the Option; or (ii) other than in the circumstances described in clause (Ii), with the consent of the Optionee, unless the amendment would not adversely affect the Optionee.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (America Online Inc)

Amendment of Option. The option Option may be amended by the Board at any time (Ii) if the Board determines, in its sole discretion, that amendment is necessary or advisable in the light of any addition to or change in the Internal Revenue Code of 1986 1986, as amended, or in the regulations issued thereunder, or any federal or state securities law or other law or regulation regulation, which change occurs after the Date of Grant and by its terms applies to the Option; or (ii) other than in the circumstances described in clause (Ii), with the consent of the Optionee, unless the amendment would not adversely affect the OptioneeGrantee.

Appears in 1 contract

Samples: Stock Option Agreement (Regent Communications Inc)

Amendment of Option. The option Option may be amended by the Board at any time (I) if the Board determines, in its sole discretion, that amendment is necessary or advisable in light of any addition to or change in the Internal Revenue Code of 1986 or in the regulations issued thereunder, or any federal or state securities law or other law or regulation of regulation, which change occurs after the Date of Grant and by its terms applies to the Option; or (ii) other than in the circumstances described in clause (I), with the consent of the Optionee, unless the amendment would not adversely affect the OptioneeGrantee.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (NRG Generating U S Inc)

Amendment of Option. The option Option may be amended by the Board or the Committee at any time (Ii) if the Board or the Committee determines, in its sole discretion, that amendment is necessary or advisable in light of any addition to or change in the Internal Revenue Code of 1986 or in the regulations issued thereunder, or any federal or state securities law or other law or regulation regulation, which change occurs after the Date of Grant and by its terms applies to the Option; or (ii) other than in the circumstances described in clause (Ii), with the consent of the Optionee, unless the amendment would not adversely affect the OptioneeGrantee.

Appears in 1 contract

Samples: Grant of Non Qualified Stock Option (Resource America Inc)

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