Common use of Restorative Stock Options Clause in Contracts

Restorative Stock Options. A Restorative Option (as defined in the Plan) will be granted in connection with the exercise of this Option and a Restorative Option resulting from this Option if: (i) the Option Holder elects to pay some or all of the exercise price of such Option (the “Underlying Option”) and/or any related withholding taxes by Constructive or Actual Delivery of Mature Shares (or, in the case of such taxes, by directing the Company to withhold shares that would otherwise be issued upon exercise of such Underlying Option); and (ii) the Fair Market Value of a share of the Company’s Common Stock on the exercise date exceeds the exercise price of a share of Common Stock subject to the Underlying Option by at least fifteen percent (15%). The number of shares of Common Stock subject to the Restorative Option shall be equal to the sum of: (a) any Mature Shares used by Constructive or Actual Delivery to pay the exercise price and/or the related withholding taxes, and (b) any shares of Common Stock withheld in connection with the exercise in payment of withholding taxes. The exercise price of the Restorative Option shall be equal to one hundred percent (100%) of the Fair Market Value of a share of the Common Stock on the date the Underlying Option is exercised. The Restorative Option shall be fully vested beginning six months after the date of its grant and shall expire on the expiration date of the Underlying Option. All other terms of the Restorative Option shall be identical to the terms of the Underlying Option. No Restorative Option shall be granted if on the date of exercise of the Underlying Option: (i) the Option Holder does not meet the eligibility requirements under Section 5 of the Plan; (ii) such Option would be scheduled to expire within twelve (12) months; or (iii) the Fair Market Value of a share of the Company’s Common Stock does not meet the fifteen percent (15%) appreciation requirement set forth above. To the extent the Option Holder is granted a Restorative Option pursuant to the exercise of this Option, the Option Holder and his or her spouse agree to be bound by all the terms and conditions of this Agreement and the Plan with respect to such Restorative Option. Each Restorative Option that may result from the exercise of this Option shall be deemed to be coupled with a SAR. Each Restorative Option and tandem SAR shall be identical in terms with the original Option and SAR provided for in Section 1(a) and (b) of this Agreement, except that the Restorative Option and tandem SAR shall (i) have an exercise price per share equal to the fair market value of the one share of the Company’s common stock on the date of the exercise giving rise to such Restorative Option, and (ii) fully vest six months after its inception. No Restorative Option shall be granted with respect to any Constructive or Actual Delivery of Mature Shares, or any shares withheld, in either case to pay any applicable withholding taxes that arise out of any exercise of the SAR.

Restorative Stock Options. A Restorative Option (as defined in the Plan) will be granted in connection with the exercise of this Option and a any Restorative Option resulting from this Option if: (i) the Option Holder elects to pay some or all of the exercise price of such Option (the “Underlying Option”) and/or any related withholding taxes by Constructive or Actual Delivery of Mature Shares (or, in the case of such taxes, by directing the Company to withhold shares that would otherwise be issued upon exercise of such Underlying Option); and (ii) the Fair Market Value of a share of the Company’s Common Stock on the exercise date exceeds the exercise price of a share of Common Stock subject to the Underlying Option by at least fifteen percent (15%). The number of shares of Common Stock subject to the Restorative Option shall be equal to the sum of: (a) any Mature Shares used by Constructive or Actual Delivery to pay the exercise price and/or the related withholding taxes, and (b) any shares of Common Stock withheld in connection with the exercise in payment of withholding taxes. The exercise price of the Restorative Option shall be equal to one hundred percent (100%) of the Fair Market Value of a share of the Common Stock on the date the Underlying Option is exercised. The Restorative Option shall be fully vested beginning six months after the date of its grant and shall expire on the expiration date of the Underlying Option. All other terms of the Restorative Option shall be identical to the terms of the Underlying Option. No Restorative Option shall be granted if on the date of exercise of the Underlying Option: (i) the Option Holder does not meet the eligibility requirements under Section 5 5(a) of the Plan; (ii) such Option would be scheduled to expire within twelve (12) months; or (iii) the Fair Market Value of a share of the Company’s Common Stock does not meet the fifteen percent (15%) appreciation requirement set forth above. To the extent the Option Holder is granted a Restorative Option pursuant to the exercise of this Option, the undersigned Option Holder and his or her spouse agree to be bound by all the terms and conditions of this Agreement and the Plan with respect to such Restorative Option. Each Restorative Option that may result from the exercise of this Option shall be deemed to be coupled with a SAR. Each Restorative Option and tandem SAR shall be identical in terms with the original Option and SAR provided for in Section 1(a) and (b) of this Agreement, except that the Restorative Option and tandem SAR shall (i) have an exercise price per share equal to the fair market value of the one share of the Company’s common stock on the date of the exercise giving rise to such Restorative Option, and (ii) fully vest six months after its inception. No Restorative Option shall be granted with respect to any Constructive or Actual Delivery of Mature SharesShares (as defined in the Plan), or any shares withheld, in either case to pay any applicable withholding taxes that arise out of any an exercise of the SAR.

Restorative Stock Options. A Restorative Option (as defined in the Plan) will be granted in connection with the exercise of this Option and a any Restorative Option resulting from this Option if: (i) the Option Holder elects to pay some or all of the exercise price of such Option (the “"Underlying Option”") and/or any related withholding taxes by Constructive or Actual Delivery of Mature Shares (or, in the case of such taxes, by directing the Company to withhold shares that would otherwise be issued upon exercise of such Underlying Option); and (ii) the Fair Market Value of a share of the Company’s 's Common Stock on the exercise date exceeds the exercise price of a share of Common Stock subject to the Underlying Option by at least fifteen percent (15%). The number of shares of Common Stock subject to the Restorative Option shall be equal to the sum of: (a) any Mature Shares used by Constructive or Actual Delivery to pay the exercise price and/or the related withholding taxes, and (b) any shares of Common Stock withheld in connection with the exercise in payment of withholding taxes. The exercise price of the Restorative Option shall be equal to one hundred percent (100%) of the Fair Market Value of a share of the Common Stock on the date the Underlying Option is exercised. The Restorative Option shall be fully vested beginning six months after the date of its grant and shall expire on the expiration date of the Underlying Option. All other terms of the Restorative Option shall be identical to the terms of the Underlying Option. No Restorative Option shall be granted if on the date of exercise of the Underlying Option: (i) the Option Holder does not meet the eligibility requirements under Section 5 5(a) of the Plan; (ii) such Option would be scheduled to expire within twelve (12) months; or (iii) the Fair Market Value of a share of the Company’s 's Common Stock does not meet the fifteen percent (15%) appreciation requirement set forth above. To the extent the Option Holder is granted a Restorative Option pursuant to the exercise of this Option, the undersigned Option Holder and his or her spouse agree to be bound by all the terms and conditions of this Agreement and the Plan with respect to such Restorative Option. Each Restorative Option that may result from the exercise of this Option shall be deemed to be coupled with a SAR. Each Restorative Option and tandem SAR shall be identical in terms with the original Option and SAR provided for in Section 1(a) and (b) of this Agreement, except that the Restorative Option and tandem SAR shall (i) have an exercise price per share equal to the fair market value of the one share of the Company’s 's common stock on the date of the exercise giving rise to such Restorative Option, and (ii) fully vest six months after its inception. No Restorative Option shall be granted with respect to any Constructive or Actual Delivery of Mature SharesShares (as defined in the Plan), or any shares withheld, in either case to pay any applicable withholding taxes that arise out of any an exercise of the SAR.

Restorative Stock Options. A Restorative Option (as defined in the Plan) will be granted in connection with the exercise of this Option and a any Restorative Option resulting from this Option if: (i) the Option Holder elects to pay some or all of the exercise price of such Option (the “"Underlying Option”") and/or any related withholding taxes by Constructive or Actual Delivery of Mature Shares (or, in the case of such taxes, by directing the Company to withhold shares that would otherwise be issued upon exercise of such Underlying Option); and (ii) the Fair Market Value of a share of the Company’s 's Common Stock on the exercise date exceeds the exercise price of a share of Common Stock subject to the Underlying Option by at least fifteen percent (15%). The number of shares of Common Stock subject to the Restorative Option shall be equal to the sum of: (a) any Mature Shares used by Constructive or Actual Delivery to pay the exercise price and/or the related withholding taxes, and (b) any shares of Common Stock withheld in connection with the exercise in payment of withholding taxes. The exercise price of the Restorative Option shall be equal to one hundred percent (100%) of the Fair Market Value of a share of the Common Stock on the date the Underlying Option is exercised. The Restorative Option shall be fully vested beginning six months after the date of its grant and shall expire on the expiration date of the Underlying Option. All other terms of the Restorative Option shall be identical to the terms of the Underlying Option. No Restorative Option shall be granted if on the date of exercise of the Underlying Option: (i) the Option Holder does not meet the eligibility requirements under Section 5 4 of the Plan; (ii) such Option would be scheduled to expire within twelve (12) months; or (iii) the Fair Market Value of a share of the Company’s 's Common Stock does not meet the fifteen percent (15%) appreciation requirement set forth above. To the extent the Option Holder is granted a Restorative Option under the Plan pursuant to the exercise of this Option, the undersigned Option Holder and his or her spouse agree to be bound by all the terms and conditions of this Option Agreement and the Plan with respect to such Restorative Option. Each Restorative Option that may result from the exercise of this Option shall be deemed to be coupled with a SAR. Each Restorative Option and tandem SAR shall be identical in terms with the original Option and SAR provided for in Section 1(a) and (b) of this Agreement, except that the Restorative Option and tandem SAR shall (i) have an exercise price per share equal to the fair market value of the one share of the Company’s common stock on the date of the exercise giving rise to such Restorative Option, and (ii) fully vest six months after its inception. No Restorative Option shall be granted with respect to any Constructive or Actual Delivery of Mature Shares, or any shares withheld, in either case to pay any applicable withholding taxes that arise out of any exercise of the SAR.

Restorative Stock Options. A Restorative Option (as defined in the Plan) will be granted in connection with the exercise of this Option and a Restorative Option resulting from this Option if: (i) the Option Holder elects to pay some or all of the exercise price of such Option (the “"Underlying Option”") and/or any related withholding taxes by Constructive or Actual Delivery of Mature Shares (or, in the case of such taxes, by directing the Company to withhold shares that would otherwise be issued upon exercise of such Underlying Option); and (ii) the Fair Market Value of a share of the Company’s 's Common Stock on the exercise date exceeds the exercise price of a share of Common Stock subject to the Underlying Option by at least fifteen percent (15%). The number of shares of Common Stock subject to the Restorative Option shall be equal to the sum of: (a) any Mature Shares used by Constructive or Actual Delivery to pay the exercise price and/or the related withholding taxes, and (b) any shares of Common Stock withheld in connection with the exercise in payment of withholding taxes. The exercise price of the Restorative Option shall be equal to one hundred percent (100%) of the Fair Market Value of a share of the Common Stock on the date the Underlying Option is exercised. The Restorative Option shall be fully vested beginning six months after the date of its grant and shall expire on the expiration date of the Underlying Option. All other terms of the Restorative Option shall be identical to the terms of the Underlying Option. No Restorative Option shall be granted if on the date of exercise of the Underlying Option: (i) the Option Holder does not meet the eligibility requirements under Section 5 of the Plan; (ii) such Option would be scheduled to expire within twelve (12) months; or (iii) the Fair Market Value of a share of the Company’s 's Common Stock does not meet the fifteen percent (15%) appreciation requirement set forth above. To the extent the Option Holder is granted a Restorative Option pursuant to the exercise of this Option, the Option Holder and his or her spouse agree to be bound by all the terms and conditions of this Agreement and the Plan with respect to such Restorative Option. Each Restorative Option that may result from the exercise of this Option shall be deemed to be coupled with a SAR. Each Restorative Option and tandem SAR shall be identical in terms with the original Option and SAR provided for in Section 1(a) and (b) of this Agreement, except that the Restorative Option and tandem SAR shall (i) have an exercise price per share equal to the fair market value of the one share of the Company’s 's common stock on the date of the exercise giving rise to such Restorative Option, and (ii) fully vest six months after its inception. No Restorative Option shall be granted with respect to any Constructive or Actual Delivery of Mature Shares, or any shares withheld, in either case to pay any applicable withholding taxes that arise out of any exercise of the SAR.

Restorative Stock Options. A Restorative Option (as defined in the Plan) will be granted in connection with the exercise of this Option and a any Restorative Option resulting from this Option if: (i) the Option Holder elects to pay some or all of the exercise price of such Option (the “Underlying Option”) and/or any related withholding taxes by Constructive or Actual Delivery of Mature Shares (or, in the case of such taxes, by directing the Company to withhold shares that would otherwise be issued upon exercise of such Underlying Option); and (ii) the Fair Market Value of a share of the Company’s Common Stock on the exercise date exceeds the exercise price of a share of Common Stock subject to the Underlying Option by at least fifteen percent (15%). The number of shares of Common Stock subject to the Restorative Option shall be equal to the sum of: (a) any Mature Shares used by Constructive or Actual Delivery to pay the exercise price and/or the related withholding taxes, and (b) any shares of Common Stock withheld in connection with the exercise in payment of withholding taxes. The exercise price of the Restorative Option shall be equal to one hundred percent (100%) of the Fair Market Value of a share of the Common Stock on the date the Underlying Option is exercised. The Restorative Option shall be fully vested beginning six months after the date of its grant and shall expire on the expiration date of the Underlying Option. All other terms of the Restorative Option shall be identical to the terms of the Underlying Option. No Restorative Option shall be granted if on the date of exercise of the Underlying Option: (i) the Option Holder does not meet the eligibility requirements under Section 5 4 of the Plan; (ii) such Option would be scheduled to expire within twelve (12) months; or (iii) the Fair Market Value of a share of the Company’s Common Stock does not meet the fifteen percent (15%) appreciation requirement set forth above. To the extent the Option Holder is granted a Restorative Option under the Plan pursuant to the exercise of this Option, the undersigned Option Holder and his or her spouse agree to be bound by all the terms and conditions of this Option Agreement and the Plan with respect to such Restorative Option. Each Restorative Option that may result from the exercise of this Option shall be deemed to be coupled with a SAR. Each Restorative Option and tandem SAR shall be identical in terms with the original Option and SAR provided for in Section 1(a) and (b) of this Agreement, except that the Restorative Option and tandem SAR shall (i) have an exercise price per share equal to the fair market value of the one share of the Company’s common stock on the date of the exercise giving rise to such Restorative Option, and (ii) fully vest six months after its inception. No Restorative Option shall be granted with respect to any Constructive or Actual Delivery of Mature Shares, or any shares withheld, in either case to pay any applicable withholding taxes that arise out of any exercise of the SAR.