Waiver of Options Sample Clauses

Waiver of Options. Executive agrees that upon execution of this agreement, Executive agrees to waive any and all rights that he may have with respect to options previously held by him to acquire 150,000 shares of common stock of Sensar corporation at a purchase price of $2.00 per share, on the condition that such options be transferred to Xxxxx Xxxxxxxxxxx, or such other appointee acceptable to Executive, on his becoming a director of Sensar Corporation. Executive further agrees that he will not sell more than 50% of the 500,000 shares of common stock subject to the remaining options held by him during the six month period subsequent to the date of this letter. This paragraph serves to supercede the agreement entered into on January 12 2001 by Executive setting out the terms of waiver of Options.
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Waiver of Options. 3.4.1 In the event that the Tenant wishes to give up its option to contract pursuant to paragraph 3.2.1 on or before the expiry of the Contraction Option Period, it shall give to the Landlord notice of such intention (the "Fifth Floor Waiver Notice"), specifying that the Tenant requires the Fifth Floor Premises and wishes to give up its option to contract pursuant to paragraph 3.2.1(A), In which case, following the date of service of the Fifth Floor Waiver Notice, this paragraph 3 shall cease to apply.
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Waiver of Options. Employee hereby agrees to waive and forfeit options for 250,000 shares of the Company’s common stock that were granted on April 1, 2004, and that upon execution of this Third Amendment, such options shall be cancelled.
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Waiver of Options. Executive in consideration of the Company's needs hereby waives his right to receive the Performance Bonus Option (as defined in Section 2.2(b) of the Employment Agreement) and the 2002 Option (as defined in Section 2.3(a) of the Employment Agreement).
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Waiver of Options. Following the Closing, SPSS shall have the right, but not the obligation, to deliver a Waiver Letter (the "Waiver Letter") to all current and former employees of Data Distilleries, in a form reasonably satisfactory to the Shareholder Representative and SPSS. SPSS shall ensure that Data Distilleries shall notify the Shareholder Representative and SPSS Inc. in writing of: (i) the names of the individuals to whom SPSS has sent Waiver Letters,
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Waiver of Options. Any party with an option to purchase an Interest pursuant to this Article may waive its option at any time prior to the exercise of such option by notice of such waiver to the owner of the Interest, the Company and all Members. A failure by any party to give any notice under this Section within the applicable period shall be deemed to be a notice of non-exercise by such party.
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Waiver of Options. The giving of an Expiration Notice shall constitute the irrevocable waiver by Tenant of any right to exercise any option to renew or to extend this Lease with regard to the XxXxxx 8 Premises and the waiver of any right of first refusal, first opportunity, or other right to lease or to negotiate for the lease of additional space.
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Waiver of Options. As a specific condition to the consent herein granted by Landlord, Tenant shall agree to waive any and all options contained within the Lease to expand the Premises, or to extend the term of the Lease therefor.
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Related to Waiver of Options

  • 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:

  • 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.

  • 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:

  • Transferability of Options During the lifetime of an Optionee, only such Optionee (or, in the event of legal incapacity or incompetency, the Optionee’s guardian or legal representative) may exercise the Option. No Option shall be assignable or transferable by the Optionee to whom it is granted, other than by will or the laws of descent and distribution.

  • Xxxxx of Option The Plan Administrator of the Company hereby grants to the Optionee named in the Notice of Grant attached as Part I of this Agreement (the "Optionee") an option (the "Option") to purchase the number of Shares, as set forth in the Notice of Grant, at the exercise price per share set forth in the Notice of Grant (the "Exercise Price"), subject to the terms and conditions of the Plan, which is incorporated herein by reference. Subject to Section 15(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and conditions of the Plan shall prevail. If designated in the Notice of Grant as an Incentive Stock Option ("ISO"), this Option is intended to qualify as an Incentive Stock Option under Section 422 of the Code. However, if this Option is intended to be an Incentive Stock Option, to the extent that it exceeds the $100,000 rule of Code Section 422(d) it shall be treated as a Nonstatutory Stock Option ("NSO").

  • Transfer of Options The Option may not be transferred except by will or the laws of descent and distribution and, during the lifetime of the Optionee, may be exercised only by the Optionee or by the Optionee's legally authorized representative.

  • Stock Options (a) Subsequent to the effectiveness of the Form 10, but prior to the consummation of the Distribution, and subject to the consummation of the Distribution, each option to purchase ALTISOURCE Common Stock (“ALTISOURCE Stock Options”) granted and outstanding under the 2009 Equity Incentive Plan of ALTISOURCE (“ALTISOURCE Option Plan”) shall remain granted and outstanding and shall not, and ALTISOURCE shall cause (to the maximum extent permitted under the ALTISOURCE Option Plan) the ALTISOURCE Stock Options not to, terminate, accelerate or otherwise vest as a result of the Distribution, and each holder thereof immediately prior to the Distribution will be entitled to the following, determined in a manner in accordance with, and subject to, the ALTISOURCE Option Plan, FAS123R and Section 409A of the Internal Revenue Code: (i) an option to acquire a number of shares of Residential Class B Common Stock equal to the product of (x) the number of shares of ALTISOURCE Common Stock subject to the ALTISOURCE Stock Option held by such holder on the Distribution Date and (y) the distribution ratio of one (1) share of Residential Class B Common Stock for every three (3) shares of ALTISOURCE Common Stock (the “Residential Stock Options”), with an exercise price to be determined in a manner consistent with this Section 3.04 and (ii) the adjustment of the exercise price of such holder’s ALTISOURCE Stock Option, to be determined in a manner consistent with this Section 3.04 (the “Adjusted ALTISOURCE Stock Options”) (the Residential Stock Options and the Adjusted ALTISOURCE Stock Options, together, the “Post-Distribution Stock Options”).

  • Transferability of Option The Option shall not be transferable except by will or the laws of descent and distribution, and any attempt to do so shall void the Option.

  • 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.

  • Nontransferability of Options The Option and this Agreement shall not be assignable or transferable by Optionee other than by will or by the laws of descent and distribution. During Optionee's lifetime, the Option and all rights of Optionee under this Agreement may be exercised only by Optionee (or by his guardian or legal representative). If the Option is exercised after Optionee's death, the Committee may require evidence reasonably satisfactory to it of the appointment and qualification of Optionee's personal representatives and their authority and of the right of any heir or distributee to exercise the Option.

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