Director Option definition

Director Option means an Option granted pursuant to Section 6.

Director Option means a Nonstatutory Stock Option granted to each Eligible Director pursuant to Section 6.7 without any action by the Board or the Committee.

Director Option means a right to purchase shares of Common Stock granted to a Non-Employee Director pursuant to Section 7 hereof.

Examples of Director Option in a sentence

• The purposes of this 1999 Director Option Plan are to attract and retain the best available personnel for service as Outside Directors (as defined herein) of the Company, to provide additional incentive to the Outside Directors of the Company to serve as Directors, and to encourage their continued service on the Board.

• The purposes of this 1996 Director Option Plan are to attract and retain the best available personnel for service as Outside Directors (as defined herein) of the Company, to provide additional incentive to the Outside Directors of the Company to serve as Directors, and to encourage their continued service on the Board.

• Notwithstanding the foregoing, a Non-Employee Director Option may be granted with an exercise price lower than that set forth in the preceding sentence if such Non-Employee Director Option is granted pursuant to an assumption or substitution for another option in a manner satisfying the provisions of Section 424(a) of the Code.

• Each Non-Employee Director Option shall have a term of ten (10) years from the date it is granted.

• The exercise price of each Non-Employee Director Option shall be one hundred percent (100%) of the Fair Market Value of the stock subject to the Non-Employee Director Option on the date of grant.

More Definitions of Director Option

Director Option means an Option granted to a Nonemployee Director pursuant to Section 5.

Director Option means a nonqualified stock option granted to a Director under the terms of this Plan.

Director Option means the right to purchase a share of Common Stock upon exercise of an option granted pursuant to Paragraph 11.

Director Option means a Nonqualified Stock Option granted to a Nonemployee Director pursuant to paragraph 9 hereof.

Director Option means an option granted to a Non-Employee Director in accordance with Section 9.2.

Director Option means an Option granted to a Non-Employee Director pursuant to this Section 10.

Director Option means an Option for Shares, Stock Appreciation Rights or Units granted pursuant to Section 6.