Promised Options means promised but ungranted Options that are the greater of those (i) promised pursuant to agreements or understandings made prior to the execution of, or in connection with, the term sheet or letter of intent for the Equity Financing or Liquidity Event, as applicable (or the initial closing of the Equity Financing or consummation of the Liquidity Event, if there is no term sheet or letter of intent), (ii) in the case of an Equity Financing, treated as outstanding Options in the calculation of the Standard Preferred Share’s price per share, or (iii) in the case of a Liquidity Event, treated as outstanding Options in the calculation of the distribution of the Proceeds.
Vested Option means any Option, which has already been vested according to the Vesting Dates.
Unvested Option means an Option in respect of which the relevant Vesting Conditions have not been satisfied and as such, the Option Grantee has not become eligible to exercise the Option.
Options means any rights, warrants or options to subscribe for or purchase shares of Common Stock or Convertible Securities.
Options Contract or “Option” means a Contract that confers the right but not the obligation to trade the Underlying at a pre-defined price on a pre-defined date in the future;
Share Option means a Nonqualified Share Option or an Incentive Share Option.
SARS means the South African Revenue Services;
Option means a stock option granted pursuant to the Plan.
Stock Option means a contractual right granted to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement.