Modification, Extension or Renewal. The Committee may modify, extend or renew this Option and authorize the grant of new options in substitution therefor, provided that any such action may not, without the written consent of the Optionee, impair any of such Optionee's rights under this Option. The Committee may reduce the Exercise Price of this Option without the consent of the Optionee affected by a written notice to them; provided, however, that the Exercise Price may not be reduced below 85% of the Fair Market Value of the Shares on the date of grant.
Appears in 9 contracts
Samples: Non Plan Stock Option Agreement (Niku Corp), Non Plan Stock Option Agreement (Niku Corp), Non Plan Stock Option Agreement (Silicon Image Inc)
Modification, Extension or Renewal. The Committee may modify, extend or renew this Option and authorize the grant of new options in substitution therefor, provided that any such action may not, without the written consent of the Optionee, impair any of such Optionee's ’s rights under this Option. The Committee may reduce the Exercise Price of this Option without the consent of the Optionee affected by a written notice to them; provided, however, that the Exercise Price may not be reduced below 85% of the Fair Market Value of the Shares on the date of grant.
Appears in 8 contracts
Samples: Non Plan Stock Option Agreement, Non Plan Stock Option Agreement (Loxo Oncology, Inc.), Non Plan Stock Option Agreement (Cepheid)
Modification, Extension or Renewal. The Committee may modify, extend or renew this Option and authorize the grant of new options in substitution therefor, provided that any such action may not, without the written consent of the Optionee, impair any of such Optionee's ’s rights under this Option. The Committee may reduce the Exercise Price of this Option without the consent of the Optionee affected by a written notice to themthe Optionee; provided, however, that the Exercise Price may not be reduced below 85% of the Fair Market Value of the Shares on the date of grantthe action is taken to reduce the exercise price.
Appears in 1 contract
Samples: Non Plan Stock Option Agreement (Silicon Image Inc)
Modification, Extension or Renewal. The Committee may modify, extend ---------------------------------- or renew this Option and authorize the grant of new options in substitution therefor, provided that any such action may not, without the written consent of the Optionee, impair any of such Optionee's rights under this Option. The Committee may reduce the Exercise Price of this Option without the consent of the Optionee affected by a written notice to them; provided, however, that the -------- ------- Exercise Price may not be reduced below 85% of the Fair Market Value of the Shares on the date of grant.
Appears in 1 contract
