Deferred Options definition

Deferred Options means those stock options that have been granted to the Executive under the Option Plan that are outstanding on the date of this Agreement that would not be vested on the date of this Agreement, absent the fact that approval of the Merger Agreement by the Board caused them to vest pursuant to Section 11 of the Option Plan. In addition, the Executive consents to the treatment of his options to purchase Company common stock provided for in Section 2.11(e) of the Merger Agreement. Except as provided otherwise in this Agreement or the Merger Agreement, the Deferred Options shall continue to be subject to the Option Plan and the terms of the underlying award agreement, including without limitation the provision that vested Deferred Options will remain exercisable for at least three months following any termination of the Executive's employment for any reason, whether during or after the end of the Employment Period (but not after the expiration of the original option term).
View Source

Examples of Deferred Options in a sentence

  • If the Executive's employment shall be terminated by the Company for Cause during the Employment Period, any Deferred Options that have not vested prior to the Date of Termination shall be forfeited and the Company shall have no further obligations to the Executive under this Agreement other than pursuant to Sections 6 and 7 hereof, and the obligation to pay to the Executive the Accrued Obligations in cash within 30 days after the Date of Termination and to provide the Other Benefits.

  • Notwithstanding any provisions in this Agreement, if Participant resides outside the United States or relocates to a country other than the United States, the grant of the Deferred Options shall be subject to compliance with all Applicable Laws and the terms of the Deferred Options may be modified to the extent necessary to comply with Applicable Laws.

  • For the avoidance of doubt, Participant shall have no right to any Deferred Options in the event that Participant ceases to be a Service Provider for any reason prior to the Date of Grant with respect to such Participant’s Deferred Options.

  • Without limitation of the foregoing, the grant of the Deferred Options shall be subject to compliance with all Applicable Laws and the terms of the Deferred Options may be modified to the extent necessary to comply with Applicable Laws.

Related to Deferred Options

  • Vested Options means the Options that have vested in accordance with Section 1.3 of this Agreement.

  • Stock Options means the collective reference to "Incentive Stock Options" and "Other Stock Options".

  • Deferred Stock Units means the number of hypothetical Shares subject to an Election.

  • Deferred Shares means an award made pursuant to Section 7 of this Plan of the right to receive Common Shares at the end of a specified Deferral Period.

  • Equity Awards means any stock options, restricted stock, restricted stock units, stock appreciation rights, phantom stock or other equity based awards granted by the Company to the Executive.