Examples of Amalco Option Plan in a sentence
The Preo Securityholders' Meeting and CDG Securityholders' Meeting shall also be and be deemed to be shareholders' meetings for Amalco for the purposes as set out in the Information Circular, including, inter alia, approval of the Amalco Option Plan.
Options granted under the Amalco Option Plan may not be assigned or transferred.
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.
In the event of a Change of Control (as defined in the Amalco Option Plan), all options outstanding shall be immediately become exercisable.
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 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.