Automatic Cashout. To the extent the Participant was precluded, due to legal restrictions or Company policy, from exercising the Options in the final period during which such exercise was otherwise permissible (which period may include the scheduled expiration date of the Options), the Participant’s in-the-money Options, that is, those Options for which the exercise price per Common Share is less than the Fair Market Value of a Common Share, will be exercised automatically, with no action required on the part of a Participant, using a net share settlement or similar procedure immediately before their scheduled expiration date.
Appears in 8 contracts
Samples: Award Agreement (Advanced Disposal Services, Inc.), Non Qualified Stock Option Award Agreement (Advanced Disposal Services, Inc.), Incentive Stock Option Award Agreement (Advanced Disposal Services, Inc.)
Automatic Cashout. To the extent the Participant was precluded, due to legal restrictions or Company policy, from exercising the any vested Options in the final period during which such exercise was otherwise permissible (which period may include the scheduled expiration date of the Options), the Participant’s vested in-the-money Options, that is, those Options for which the exercise price per Common Share is less than the Fair Market Value of a Common Share, will be exercised automatically, with no action required on the part of a Participant, using a net share settlement or similar procedure immediately before their scheduled expiration date.
Appears in 3 contracts
Samples: Nonqualified Stock Option Award Agreement (Altice USA, Inc.), Nonqualified Stock Option Award Agreement (Altice USA, Inc.), Altice Usa 2017 Long Term Incentive Plan (Altice USA, Inc.)
