Annual Option definition

Annual Option means an Option granted on an annual basis to a Nonemployee Director of the Corporation as provided in Section 8.

Annual Option means a Non-Qualified Stock Option granted to a Non-Employee Director on the next business day following each annual meeting of stockholders at which such Non-Employee Director is elected as a Director, other than the annual meeting of stockholders at which such Non-Employee Director is initially elected a Director.

Annual Option means a stock option granted pursuant to subsection 5(c) of the Plan.

Examples of Annual Option in a sentence

• Unless otherwise provided for by the Board at the time an Annual Option is granted, each Annual Option shall comply with and be subject to the terms and conditions set forth in the form of Nonstatutory Stock Option Agreement for Outside Directors (Annual Option) adopted by the Board concurrently with its adoption of the Plan and as amended from time to time.

• The purchase price of the Common Stock covered by each Annual Option will be the Fair Market Value of a share of Common Stock as of the date of grant of the Annual Option.

• For the avoidance of doubt, a Nonemployee Director elected for the first time to the Board at an annual meeting of stockholders shall only receive an Initial Option in connection with such election, and shall not receive an Annual Option on the fifth business day following such meeting as well.

• If the Company should, prior to any Annual Option grant, be involved in any merger, reorganization, stock split or spinoff or other similar event, the number of shares subject to the Annual Options yet to be granted, as provided above, shall be adjusted on a pro rata basis.

• The date of grant of such an Annual Option shall be the fifth business day after the date of the annual or other stockholders meeting at which directors are elected.

More Definitions of Annual Option

Annual Option means an Option granted to a Non-Employee Director pursuant to Section 4(a)(ii) of the Plan.

Annual Option means an Option granted pursuant to Section 5(c) of this Plan.

Annual Option means an Option to purchase the number of shares specified in or under Section 6(a), subject to adjustment as provided in Section 8.

Annual Option means an Option granted pursuant to Section 5.1 hereof.

Annual Option means an Option Right granted to a Director pursuant to Section 6 of this Plan.

Annual Option means an option to purchase shares of Common Stock granted pursuant to Section 6.2.

Annual Option means a non-qualified option to purchase shares of Stock pursuant to Section 3A.”