RELOAD OPTION GRANTS. If an Optionee makes payment for the exercise of an option granted hereunder through the delivery to the Company of shares of the Company's Common Stock pursuant to paragraph 7(a)(ii) of this Agreement, such Optionee shall be granted automatically a new "reload" stock option. Such new "reload" stock option shall (i) be a non-qualified option to purchase the number of shares provided as consideration for the exercise price in connection with the exercise of the original stock option, (ii) have a per share exercise price equal to the fair market value of such shares as of the date of exercise of the original stock option, (iii) be immediately exercisable and have a term of ten years from the date of the original stock option, and (iv) otherwise have the same terms and conditions as the original stock option, except that it will not provide for the automatic grant of additional reload stock options upon its exercise.
Appears in 8 contracts
Samples: Non Qualified Stock Option Agreement (Investors Financial Services Corp), Non Qualified Stock Option Agreement (Investors Financial Services Corp), Non Qualified Stock Option Agreement (Investors Financial Services Corp)
