Company Share Option definition
Examples of Company Share Option in a sentence
Share Option Plans The Company operates three discretionary incentive share option plans: the Serica Energy Plc Long Term Incentive Plan (the "LTIP"), which was adopted by the Board on20 November 2017 which permits the grant of share-based awards, the 2017 Serica Energy plc Company Share Option Plan (“2017 CSOP”), which was adopted by the Board on 20 November 2017, and the Serica 2005 Option Plan, which was adopted by the Board on 14 November 2005.
Other than in respect of awards outstanding under or pursuant to the Company Share Option Plan, no Common Shares are reserved for issuance.
Each Company Share Option (i) was granted in compliance with all applicable laws and all of the terms and conditions of the Company Share Option Plan.
As of the date hereof, there are (i) outstanding share options issued under the Company’s Share Option Plan to purchase an aggregate of 2,367,662 Common Shares (each, a “Company Share Option”) and (ii) 1,277,339 Common Shares reserved for issuance under the Company Share Option Plan.
If the exercise price per share of any such Company Share Option is equal to or greater than the Company Common Share Merger Consideration, such Company Share Option shall be canceled without any cash payment being made in respect thereof.