Surrender of Options; Payment for Options Sample Clauses

Surrender of Options; Payment for Options. As soon as practicable after the date hereof, but in any event within ten (10) days of the date hereof, the Payments Administrator shall mail to each Option Holder (i) an Option Cancellation Agreement, substantially in the form attached hereto as Exhibit D-2 (the “Option Cancellation Agreement”), ​ ​ and (ii) instructions for use in effecting the cancellation and termination of the Options in exchange for the portion of Option Payments contemplated to be paid to such Option Holder pursuant to this Section 3.3. As a condition precedent to each Option Holder’s right to receive his, her or its Option Payment, if any, such Option Holder shall deliver to the Payments Administrator an executed Option Cancellation Agreement. Upon receipt by the Payments Administrator of the items set forth in the immediately preceding sentence (but in no event earlier than the Effective Time), the Payments Administrator shall pay, subject to Section 3.1(e) with respect to the applicable holder’s Deferred Pro Rata Share of Deferred Merger Consideration, to the Non-Employee Option Holders or to the Company for further distribution to the Employee Option Holders, subject to any applicable withholdings and subject to adjustment as provided in Section 3.4, the portion of Option Payments due under this Section 3.3 with respect to such Option, which payment shall be made with respect to Non-Employee Option Holders on the Closing Date and with respect to Employee Option Holders as soon as reasonably practicable on or after the Closing Date, and in any event not later than five (5) days following the Closing Date, if all deliveries from the applicable Option Holder are received prior to the Closing Date, and shall otherwise be paid as soon as reasonably practicable after the date of receipt by the Payments Administrator of such deliveries from such Option Holder.
Sample 1
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Related to Surrender of Options; Payment for Options

  • Vesting of Options The Option shall vest (become exercisable) in accordance with the vesting schedule shown on page 1 of this Award Agreement. Notwithstanding the vesting schedule on page 1, the Option will also vest and become exercisable:

  • Termination of Options The Options, which become exercisable as provided in paragraphs 3 and 4 above, shall terminate and be of no force or effect as follows:

  • Expiration of Options Except as otherwise provided in Section 5 or 6 of the Management Stockholder's Agreement, the Options may not be exercised to any extent by the Optionee after the first to occur of the following events:

  • Vesting of Option The Option shall be 100% vested upon the date of grant.

  • Exercisability of Options Options granted under the Plan shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall determine in its sole discretion. After an Option is granted, the Committee, in its sole discretion, may accelerate the exercisability of the Option.

  • Payment of Option Price The purchase price of Common Stock upon exercise of this Option shall be paid in full to the Corporation at the time of the exercise of the Option in cash or by the surrender to the Corporation of shares of previously acquired Common Stock which shall have been held by the Participant for at least six (6) months and which shall be valued at Fair Market Value on the date the Option is exercised, or by a combination of cash and such Common Stock.

  • Optional Repurchase Right The NIMS Insurer, if any, may repurchase any Distressed Mortgage Loan for a purchase price equal to the outstanding principal balance of such Mortgage Loan, plus accrued interest thereon to the date of repurchase plus any unreimbursed Advances, Servicing Advances or Servicing Fees allocable to such Distressed Mortgage Loan. Any such repurchase shall be accomplished by the NIMS Insurer’s remittance of the purchase price for the Distressed Mortgage Loan to the Master Servicer for deposit into the Collection Account. The NIMS Insurer shall not use any procedure in selecting Distressed Mortgage Loans to be repurchased which would be materially adverse to Certificateholders.

  • Exercise of Nonstatutory Stock Option There may be a regular ------------------------------------- federal income tax liability upon the exercise of a Nonstatutory Stock Option. The Optionee will be treated as having received compensation income (taxable at ordinary income tax rates) equal to the excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price. If Optionee is an Employee or a former Employee, the Company will be required to withhold from Optionee's compensation or collect from Optionee and pay to the applicable taxing authorities an amount in cash equal to a percentage of this compensation income at the time of exercise, and may refuse to honor the exercise and refuse to deliver Shares if such withholding amounts are not delivered at the time of exercise.

  • Vesting and Exercisability of Option The Option shall vest, and may be exercised, with respect to the Shares as set forth in the Optionee Statement attached hereto and made a part hereof, subject to earlier termination of the Option as provided in Sections 1.4 and 6 hereof or in the Plan. The right to purchase the Shares as they become vested shall be cumulative and shall continue during the Exercise Term unless sooner terminated as provided herein.

  • Vesting of Stock Options All unvested stock options held by Executive, if any, shall vest immediately upon a Change of Control Termination as defined in Section 6.1.2. Executive may exercise such options in accordance with the terms and conditions of the stock option plan and the agreement pursuant to which such options were granted.

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