Examples of Amalco Options in a sentence
Additionally, the Amalco Stock Option Plan provides (unless the Amalco board of directors determines otherwise) for the acceleration of the vesting period for any Amalco Options granted if an unsolicited proposal is made with respect to Amalco or a take-over bid which is not exempt from the take-over bid requirements of the Securities Act (Alberta) is made for the Amalco Shares.
The board of directors of Amalco will have the discretion to determine to whom Amalco Options will be granted, the number of such Amalco Options, the exercise price of such Amalco Options and the terms and time frames in which the Amalco Options will be exercisable, provided that Amalco Options will be exercisable for a maximum of five years from the date of grant and the exercise price of such Amalco Options may not be lower than the closing price of the Amalco Shares on CDNX the day prior to the grant.
If, before the expiry of an option the employment of the optionee by the Corporation or by any Subsidiary of the Corporation shall terminate for any reason whatsoever other than termination by the Corporation for cause, all Amalco Options granted to optionees shall expire and terminate within 60 days of the optionee ceasing to be a director, officer, full-time employee or consultant of the Corporation.
Save and except as agreed to by Amalco and the holders of Pathfinder Options, the term to expiry, conditions to and manner of exercising, vesting schedule, the status under applicable laws, and all other terms and conditions of the Amalco Options issued pursuant to this Section 2.11(b) will otherwise be unchanged from those contained in or otherwise applicable to the related Pathfinder Options.
After the Effective Date, certificates formerly representing Pathfinder Options, Bayswater Options and Bayswater Warrants, shall be deemed to represent Amalco Options or Amalco Warrants, as the case may be, subject to adjustment of the exercise price and number of Amalco Shares to which the holder of former Pathfinder Options, Bayswater Options or Bayswater Warrants may be entitled in accordance with Section 2.11 hereof.