Examples of Amalco Option in a sentence
Options granted under the Amalco Option Plan may not be assigned or transferred.
Each outstanding Bayswater Option shall be exchanged for one Amalco Option and the Bayswater Option shall thereafter be cancelled and cease to be outstanding, with each such Amalco Option being exercisable for that number of Amalco Shares that is equal to the number of Bayswater Shares that would otherwise have been issuable upon the exercise of the Bayswater Option, with the exercise price of such Amalco Option being equal to the exercise price of the applicable Bayswater Option.
The Amalco Option Plan provides that upon the participant’s disability or death such participant’s options may be exercised to purchase the total number of Amalco Shares not previously purchased by the participant provided such exercise occurs prior to the earlier of the expiry date of the options and one hundred and eighty (180) days after the participant ceases to be a participant due to such permanent physical or mental disability or death.
Amalco will not issue shares pursuant to options granted under the Amalco Option Plan unless and until the Amalco Shares have been fully paid for.
The Amalco Option Plan is to be administered by the Compensation Committee of the Amalco Board, or if no Compensation Committee has been appointed, by the Amalco Board.
The number of Amalco Shares reserved for issuance to any optionee, other than a consultant or service provider conducting investor relations activities, pursuant to options granted under the Amalco Option Plan, together with all other share compensation arrangements of Amalco, during any 12-month period may not exceed 5% of the outstanding Amalco Shares at the time of grant.
Generally, the Amalco Board may amend the Amalco Option Plan, subject to any necessary regulatory approval, except that no general amendment of the Amalco Option Plan will, without the prior written consent of all optionees, alter or impair any option of Amalco previously granted.
Options granted under the Amalco Option Plan will be for a term not exceeding 10 years from the date of grant.
If any fractional Amalco Share, Amalco Option or Amalco Warrant would be issuable to a Pathfinder Securityholder or a Bayswater Securityholder under Section 2.11, such Securityholder shall only receive that number of Amalco Shares, Amalco Options or Amalco Warrants, as the case may be, as the Securityholder is entitled to receive pursuant to Section 2.11 rounded down to the nearest whole Amalco Share, Amalco Option or Amalco Warrant, as the case may be.
If an optionee ceases to be an Eligible Person, options previously granted to such person will cease to be exercisable within a period of 90 days after the date such person ceases to be eligible under the Amalco Option Plan, or such longer or shorter period as determined by the Amalco Board, provided that no option shall remain outstanding for any period which exceeds the earlier of: (i) the expiry date of such option and (ii) 12 months following the date such person ceases to be an Eligible Person.