Status of Options. The Options subject to this Award Agreement are only a contractual right of the Optionee potentially to receive Common Shares corresponding to the number of Options granted to the Optionee.
Status of Options. Prior to the Closing Date, ASFC shall cause the ASFC Options to be amended in the following respects: (i) each ASFC Option, whether or not such ASFC Option is then exercisable, shall become fully vested and exercisable as of the close of business on the Business Day immediately preceding the Closing Date, (ii) each ASFC Option shall terminate as of the Effective Time unless exercised prior to the Effective Time, and (iii) each holder of an ASFC Option shall be deemed as of the Business Day immediately prior to the Closing Date to have irrevocably exercised in full such ASFC Option as of such Business Day by means of a "cashless" exercise pursuant to which ASFC, when issuing shares of ASFC Common Stock on exercise, will withhold from such issuance shares with an aggregate value (when valued at $47.00 per share) equal to the sum of (i) the aggregate exercise price payable upon such exercise, in lieu of the payment by the holder of such exercise price in cash, and (ii) any applicable tax withholding. The amendment of ASFC Options provided for in this Section 2.7 shall be conditional upon the consummation of the Merger such that, in the event the Merger is not consummated and this Agreement is terminated, the ASFC Options shall in all respects revert to the terms in effect prior to the Business Day immediately prior to the Closing Date and all notices of exercise deemed given pursuant to this Section 2.7 shall be null and void. Other than payment of the Merger Consideration with respect to Shares received upon the deemed exercise of ASFC Options, no payment, assumption or conversion shall occur in the Merger with respect to the ASFC Options. All Shares issued upon exercise of ASFC Options pursuant to this Section 2.7 shall be deemed issued and outstanding at the Effective Time for purposes of the Merger.
Status of Options. The Options granted hereby are not intended to qualify as Incentive Stock Options.
Status of Options. The Option granted hereunder is granted to Optionee in connection with the Note, and it is not intended to qualify as an “incentive stock option” under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”).
Status of Options. On the Offering Pricing Date, the ----------------- Company shall cause the Plan and/or each Option outstanding on such date for the purchase of shares of Company Common Stock granted under any employee stock option or compensation plan or arrangement of the Company and its Subsidiaries (a "Company Option") to be amended in the following respects: (i) each -------------- Company Option, whether or not such Company Option is then exercisable, shall become fully vested and exercisable as of the close of business on the Business Day immediately preceding the Closing Date, (ii) each Company Option shall terminate as of the Effective Time unless exercised prior to the Effective Time, and (iii) except with respect to any Company Option granted after the date six months prior to the Closing Date to a person required to file reports under Section 16(a) of the Exchange Act, each holder of a Company Option shall be deemed as of the Offering Pricing Date to have irrevocably exercised in full his Company Option as of the close of business on the Business Day immediately prior to the Closing Date by means of a "cash-less" exercise pursuant to which the Company, when issuing shares of Company Common Stock on exercise, will withhold from such issuance shares with an aggregate value (when valued at the Per Share Merger Price) equal to the exercise price payable upon such exercise, in lieu of the payment by the holder of the exercise price in cash. The amendment of Company Options provided for in this Section shall Page 29 of 106 be conditional upon the consummation of the Merger such that, in the event the Merger is not consummated and this Agreement is terminated, the Company Options shall in all respects revert to the terms in effect prior to the Offering Pricing Date and all notices of exercise deemed given pursuant to this Section shall be null and void. No payment, assumption or conversion shall occur in the Merger with respect to terminated Options. All Shares issued upon exercise of Company Options pursuant to this Section 3.5 shall be deemed issued and outstanding at the Effective Time for purposes of the Merger.
Status of Options. 15 2.8 Closing of ASFC's Transfer Books . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 2.9 No Further Ownership Rights in ASFC Common Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 2.10
Status of Options. The Compensation Committee will designate the status of each option granted to an employee as either an Incentive Stock Option or a Nonqualified Stock Option at the time of grant. If, however, the aggregate fair market value (determined as of the date of grant) of shares with respect to which Incentive Stock Options become exercisable for the first time by an employee exceeds $100,000 in any calendar year, the options with respect to the excess shares must be designated as Nonqualified Stock Options. All options granted to consultants and non-employee directors will be Nonqualified Stock Options.
Status of Options. Each eShare Option and eShare Warrant (whether vested or unvested) outstanding on the Closing Date for the purchase of shares of eShare Common Stock, whether or not granted under the eShare Plan, shall be exchanged as of the Effective Time for an Option to purchase, in lieu of each share of eShare Common Stock purchasable thereunder, 0.419968638 of Melita Common Stock.
Status of Options. The options which may be granted pursuant to this Plan will constitute either incentive stock options within the meaning of Section 422A of the Code ("Incentive Stock Options") or options which are not Incentive Stock Options ("Non-incentive Stock Options"). Incentive Stock Options and Non-incentive Stock Options shall be collectively referred to herein as "Options".
Status of Options. The Options, upon issuance:
