Nature of Options Sample Clauses

Nature of Options. If so designated on the respective Notice of Stock Option Grant, the Options are intended to be “incentive stock options” within the meaning of Section 422 of the Code or any successor provision.

Nature of Options. The Options are not granted under the French specific regime provided by Articles L. 225-177 to L. 000-000-0 of the French commercial code.

Nature of Options. The Administrator may grant Incentive Stock Options and Nonqualified Stock Options under the Plan. However, Incentive Stock Options may only be granted to Employees of the Company or its Related Corporations.

Nature of Options. (a) Each Option will grant the holder of that Option the right but not the obligation to be issued by the Company one Share at the Options Exercise Price. (b) Each Option will be exercisable by the Option holder complying with its obligations under this clause 16, at any time after the time of its grant and prior to the Options Expiration Date, after which time it will lapse.

Nature of Options. The following provision supplements Section 18 of the Agreement: In accepting the grant of Options, the Optionee acknowledges that the Optionee consents to participation in the Plan and has received a copy of the Plan. The Optionee understands that the Company, in its sole discretion, has unilaterally and gratuitously decided to grant Options under the Plan to individuals who may be employees of the Company or its Subsidiaries throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any Options will not economically or otherwise bind the Company or any of its Subsidiaries on an ongoing basis. Consequently, the Optionee understands that the Option is granted on the assumption and condition that the Option and the Shares issued upon exercise of the Option shall not become a part of any employment contract (either with the Company or any of its Subsidiaries) and shall not be considered a mandatory benefit, or salary for any purposes (including severance compensation) or any other right whatsoever. Further, the Optionee understands and agrees that, unless otherwise expressly provided for by the Company or set forth in the Agreement, the Option will be cancelled without entitlement to any Shares if the Optionee’s employment is terminated for any reason, including, but not limited to: resignation, retirement, disciplinary dismissal adjudged to be with cause, disciplinary dismissal adjudged or recognized to be without good cause (i.e., subject to a “despido improcedente”), material modification of the terms of employment under Article 41 of the Workers’ Statute, relocation under Article 40 of the Workers’ Statute, Article 50 of the Workers’ Statute, or under Article 10.3 of Royal Decree 1382/1985. The Committee, in its sole discretion, shall determine the date when the Optionee's employment has terminated for purposes of the Option. The Optionee understands that this Option grant would not be made to the Optionee but for the assumptions and conditions referred to above; thus, the Optionee acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then any grant of, or right to, the Option shall be null and void.

Nature of Options. An Option is an option granted by the Corporation to a Participant entitling such Participant to acquire a designated number of Shares from treasury at the Exercise Price, subject to the provisions hereof.

Nature of Options. Options is a contract in which the seller gives the buyer the right to buy or sell the underlying asset at a fixed price within a specified period of time and conditions, or the right to receive payment from the seller under the conditions specified in the contract. The buyer is required to pay a premium to the seller in exchange for such right to buy or sell. Options which grants the buyer the right to buy an underlying asset or variable at a fixed price is a call options while options which grants the buyer the right to sell an underlying asset or variable at a fixed price is a put options. Such right must be exercised according to the terms and conditions specified in the Options. When the buyer exercises his options, the seller may make physical delivery of the underlying asset or make cash settlement where the cash difference between the exercise price and the market value or price of the underlying asset or variable at a time or a period of time in the future as set out in the contract is paid to the buyer.

Nature of Options. The Award Summary shall designate whether the Options are a Nonqualifed Stock Option or Incentive Stock Option. Options awarded under this Agreement may not be exercised at any time until such Options are vested as provided in the Award Summary governing such Options. Except as otherwise provided in the Award Summary or this Agreement, the Options granted hereunder shall terminate on the earlier of (i) the seventh anniversary of the Date of Grant, or (ii) the date such Options are fully exercised, unless earlier terminated under Section 4 or 5 of this Agreement.

Nature of Options. Options is a contract in which the seller gives the buyer the right to buy or sell the underlying asset at a fixed price within the specified period and conditions stipulated under the contracts, or the right to receive payment from the seller under the conditions of the contract. The buyer is required to pay a premium to the seller in exchange for such right to buy or sell. Options which grant the buyer the right to buy an underlying asset or variable at a fixed price are known as call options, while options which grant the buyer the right to sell an underlying asset or variable at a fixed price are known as put options. Such right must be exercised according to the terms and conditions specified in the options contract. When the buyer exercises his/her options, the seller may make physical delivery of the underlying asset or make a cash settlement of the cash difference between the exercise price and the market value, or price of the underlying asset or variable, to the buyer at a time or a period of time in the future as set out in the contract.

Nature of Options. The Options are nonqualified stock options and are not intended to be “incentive stock options” within the meaning of Section 422 of the Code or any successor provision.