Reload Option. In addition to the Option granted hereby (the "Underlying Option"), the Company will grant to the Optionee a reload option (the "Reload Option") if the Optionee acquires shares of Common Stock pursuant to the exercise of the Underlying Option and pays for such shares and/or the tax obligation incurred by reason of the exercise of the Underlying Option (the "withholding taxes") with shares of Common Stock already owned by, or otherwise issuable to, the Optionee (the "Tendered Shares"). The Reload Option grants to the Optionee the right to purchase shares of Common Stock equal in number to the number of Tendered Shares. The date on which the Tendered Shares are tendered to, or withheld by, the Company in full or partial payment of the purchase price and withholding taxes for the shares of Common Stock acquired pursuant to the exercise of the Underlying Option is the Reload Grant Date. The exercise price of the Reload Option is the fair market value of the Tendered Shares on the Reload Grant Date. The fair market value of the Tendered Shares shall be the closing bid price per share of the Common Stock on the
Reload Option. In the event all or a portion of the Option is exercised by Participant by delivering previously acquired Shares, Participant will be granted automatically a replacement Option for a number of Shares equal to the number of Shares delivered to Corporation by Participant upon exercise of the Option. The grant date for such replacement Option will be the date of exercise and the exercise price for such replacement Option will be the Fair Market Value of a Share on such grant date. The replacement Option initially will not be exercisable and will become fully exercisable six months after the grant date. In all other respects, the replacement Option will be subject to all the terms and conditions of this Award Agreement.
Reload Option. If Employee delivers shares of Common Stock in payment of the option price of the Option, Employee shall be issued a new stock option (the "Reload Option"), under the Plan or any subsequently adopted Company stock incentive or stock option plan (collectively, the "Plans") that has Common Stock available for option grant, upon the following terms: (i) the number of option shares of Common Stock granted under the Reload Option shall be equal to the number of shares of Common Stock that were delivered in payment of the option price of the Option plus, if so provided by the Committee, the shares retained by the Company to satisfy any Federal, state or local tax withholding requirements in connection with the exercise of the Option; (ii) the option exercise price of the Reload Option shall be equal to the fair market value of the Common Stock on the day on which the Reload Option was granted, or, if Common Stock is not then traded on the New York Stock Exchange, on the exchange on which such Common Stock is principally traded; (iii) the Reload Option shall have a term equal to the remaining term of the original Option to which it relates (subject to earlier termination as provided in the Plan and this Agreement); (iv) the Reload Option shall vest immediately, and (v) no Reload Option may be exercised within one year from the date on which the Reload Option was granted.
Reload Option. In addition to the Option granted hereby (the "Underlying Option"), the Company will grant to the Optionee a reload option (the "Reload Option") if the Optionee acquires shares of Common Stock pursuant to the exercise of the Underlying Option and pays for such shares and/or the tax obligation incurred by reason of the exercise of the Underlying Option (the "withholding taxes") with shares of Common Stock already owned by, or otherwise issuable to, the Optionee (the "Tendered Shares"). The Reload Option grants to the Optionee the right to purchase shares of Common Stock equal in number to the number of Tendered Shares. The date on which the Tendered Shares are tendered to, or withheld by, the Company in full or partial payment of the purchase price and withholding taxes for the shares of Common Stock acquired pursuant to the exercise of the Underlying Option is the Reload Grant Date. The exercise price of the Reload Option is the fair market value of the Tendered Shares on the Reload Grant Date. The fair market value of the Tendered Shares shall be the closing bid price per share of the Company's Common Stock on the Reload Grant Date. The Reload Option shall be fully exercisable as of the Reload Grant Date. The Reload Option shall expire on June 9,
Reload Option. In the event this Agreement is renewed or extended for an additional Term as provided in Section II.A.1, the Company shall grant to Executive a further Option to purchase additional shares of the Company Common Stock (a “Reload Option”). Any such Reload Option (i) shall be for a number of shares equal to 2.5% of the then issued and outstanding shares of capital Stock of the Company, on a fully diluted basis; (ii) shall have a Term of five (5) years; (iii) shall have an exercise price which is equal to one hundred percent (100%) of the Fair Market Value of the Stock subject to the Reload Option on the date of renewal or extension; and (iv) shall otherwise be granted and exercisable on terms and conditions substantially identical to those applicable to the 2009 Option Shares. Any such Reload Option shall be subject to such other terms and conditions as the Board or Committee may determine.
Reload Option. The exercise price of a Reload Option shall be equal to at least 100% of the fair market value per share of the Common Stock, as determined pursuant to Section 5 of the Plan, on the date of the exercise of the previous Option. The Reload Option shall vest in full on the fifth anniversary of the effective date (as such term is defined in Employee's stock option agreement under the Plan) of the Option to which such Reload Option relates. Reload Options shall not be granted for exercise of a Reload Option. Notwithstanding the foregoing, no Reload Option shall be granted unless the Plan contains sufficient shares of Common Stock for such grant.
Reload Option. (a) Subject to Section 4(b) below, in addition to the Option granted hereby (the "Underlying Option"), the Company will grant to Grantee a reload option (the "Reload Option") if the Grantee (i) is a Participant when Grantee exercises all or a portion of the Underlying Option or all or a portion of a Reload Option granted hereunder, (ii) has not received a Reload Option pursuant to any other option exercise within the six (6) months prior to the exercise of all or a portion of the Underlying Option, and (iii) pays the Exercise Price for such Shares or any required tax withholding with respect to such Shares with Shares that have been held by the Grantee for at least six (6) months (the "Tendered Shares"). The Reload Option shall grant the right to purchase Shares of Common Stock equal in number to the number of Tendered Shares. The date on which the Tendered Shares are tendered to the Company is the Reload Grant Date. The Exercise Price of the Reload Option is the Fair Market Value of the Common Stock on the Reload Grant Date. The Reload Option may be exercised at any time during the remaining term of the Underlying Option (subject to earlier termination as provided in the Plan or in this Award Agreement). Except as provided in this Section 4, the Reload Option is subject to all of the other terms and provisions of this Award Agreement.
(b) No Reload Option will be granted hereunder and no Reload Option may be exercised if, at the time of such proposed grant or exercise, all Shares reserved for issuance under the Plan are the subject of outstanding Options. Any rights of the Grantee with respect to such Reload Option shall be automatically void at such
Reload Option. Add provision for reload feature for those key executives who qualify for such feature, as follows: Upon exercise of the Option pursuant to clause (a), above, the Holder shall receive a new option (the “Reload Option”) to purchase at the option price equal to the Fair Market Value of the Shares on the date of Option exercise, all or any part of that number of Shares equal to (i) the number of Shares delivered to the Company by the holder, or withheld from Shares otherwise issuable to the holder upon exercise, in payment of the exercise price of the Option or the tax withholding obligations attributable thereto and/or (ii) that number of Shares with a then Fair Market Value equal to the amount of the withholding obligations paid in cash by the holder. The Reload Option shall expire unless extended or earlier terminated in accordance herewith. [Reload Options shall fully vest immediately upon issuance.] All other terms and conditions (other than the vesting schedule) of this Agreement and the Plan apply to the Reload Options.]
Reload Option. If Optionee shall exercise an Option and make payment of the Option exercise price pursuant to the provisions of Section 4(ii), the Company and Optionee shall enter into a separate stock option agreement granting options to purchase that number of shares tendered to pay the Option exercise price pursuant to Section 4(ii). The exercise price of such Reload Options shall be the Market Value Per Share on the date of grant and the expiration date shall be the same as the expiration date of the Option exercised for which payment was made in accordance with the provisions of Section 4(ii).
Reload Option. If the Employee tenders shares of Common Stock to pay the exercise price of the Option, and/or withheld to pay the applicable withholding taxes upon exercise of a portion of the Option, the Employee will receive a new option (the "Reload Option") to purchase that number of shares of Common Stock equal to the number of shares tendered to pay the exercise price and the withholding taxes. The Reload Option shall have an exercise price equal to the Fair Market Value as of the date of exercise of the Option. The Reload Option may be exercised commencing one year after it is granted and shall expire on the date of expiration of the Option.
