Earned Options definition

Earned Options means that portion of the Option Grant that has been earned as a result of the passage of time as set forth in Section 2 hereto.
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Earned Options provided that, (i) in the event of the death or incapacitating ??????sability of Mxxxx Xxxxxxx or Gxxx Xxxxxxx, the consent of the heirs or guardian of such individual ??????all not be required to amend any provision of this Plan and (ii) with respect to any amendment of ??????c potential Transaction Payment in Section 3.1, such amendment also shall require the approval of ??????e entire Board and the consent of Mxxxx Xxxxxxx (for so long as he is Chief Executive Officer of ?????? Company), Gxxx Xxxxxxx (for so lone as he is Chairman of the Company) and holders of not less ??????an sixty percent (60%) of the voting power-of the then outstanding shares of Preferred Stock of the ?????? ompany, voting as a single class, on an as-converted basis. Notwithstanding any provision in this ??????an to the contrary, regardless of their employment status with the Company, the Plan may not be ??????mended or terminated without the consent of Mxxxx Xxxxxxx or Gxxx Xxxxxxx, if such amendment ?????? termination would have the effect of reducing the proceeds potentially payable to either of such ??????ndividuals (or their affiliated entities) below 75% of what such individual (or their affiliated ??????ntities) would otherwise be entitled to receive under the Plan.
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Earned Options means (i) for those Predetermined Participants not employed by the Company as of the Liquidation Date, the number of shares of common stock of the Company for which such Predetermined Participant’s options were exercisable at the time of separation; (ii) for those Predetermined Participants employed by the Company as of the Liquidation Date and who have been employed by the Company for less than three (3) years at such time, the number of shares of common stock of the Company for which such Predetermined Participant’s options are exercisable on the Liquidation Date; and (iii) for those Participants employed by the Company as of the Liquidation Date and who have been employed by the Company for more than three (3) years at such time, the number of shares of common stock of the Company for which such Predetermined Participant’s options would be exercisable one (1) year after the Liquidation Date, assuming that the vesting of any unvested options continued for such period under the terms of the applicable option plans and agreements and that no applicable option exercise periods had terminated. Notwithstanding any other provisions in this section 10(b), for each of Mxxxx Xxxxxxx and Gxxx Xxxxxxx. Earned Options shall mean the sum of (i) The number of shares of common stock of the Company for which such individual’s options were exercisable on the Liquidation Date and (ii) the lesser of (x) the number of shares of common stock of the Company for which such Individual’s options were unexercised and not yet exercisable on the Liquidation Date and (y) seven hundred and fifty thousand (750,000) shares.
Sample 1

Examples of Earned Options in a sentence

  • In the event of a Change in Control occurring within three years after the Date of Grant, to the extent a number of Options have not been earned as of the date of the Change in Control equal to at least two-thirds of the Options granted (the “Target”), an additional number of Unearned Options shall be deemed Earned Options such that total Earned Options equals the Target number of Options.

  • The Earned Options shall be exercisable for a period of ten years from the date of grant.

  • The Earned Options will vest only to the extent the Grantee also satisfies the employment service requirements set forth in Section 6 below.

  • The Performance Stock Option will become exercisable with respect to the Earned Options on the Service Vesting Date, and shall remain exercisable until the Expiration Date, when the right to exercise shall terminate absolutely.

  • Any Options granted to the Grantee that are determined not to be Earned Options will be forfeited as of the date of the Compensation Committee Certification.

  • Any portion of the Options granted to a Grantee that are determined not to be Earned Options shall be forfeited as of the date of the Compensation Committee Certification.

  • Except as provided in Section 6(b), all unvested Earned Options will be automatically forfeited if the Grantee terminates employment for any reason prior to the vesting dates set forth in this Section 6(a).

  • The exercise price of the Earned Options will be equal to the fair market value of the Company’s common stock as reported on the Over the Counter Bulletin Board on the date that this Agreement is executed by both parties.

  • For the avoidance of doubt, subject to Sections 8 and 9, each Achievement Date must occur during the Performance Period and if the Achievement Date for any Performance Goal does not occur during the Performance Period, the portion of the Option eligible to be earned upon achievement of the Performance Goal shall terminate in its entirety immediately on the first day following the end of the Performance Period, and Earned Options shall only vest upon an Applicable Vesting Date.

  • After a Change in Control, the Award shall no longer be subject to performance-based vesting conditions and the number of unvested Earned Options determined pursuant to the preceding sentence shall remain unvested, with vesting subject to Participant’s continued service with the Company or a Subsidiary through the applicable Vesting Date.


More Definitions of Earned Options

Earned Options has the meaning set forth on the attached Long-Term Incentive Awards Summary Schedule.
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Related to Earned Options

  • Vested Options means the Options that have vested in accordance with Section 2.2 of this Agreement.

  • 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.

  • SARS means the South African Revenue Service.

  • 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.

  • Performance Shares means Shares or an Award denominated in Shares which may be earned in whole or in part upon attainment of performance criteria established by the Administrator.

  • Equity Awards will mean Executive’s outstanding stock options, stock appreciation rights, restricted stock units, performance shares, performance stock units and any other Company equity compensation awards.

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

  • Non-Vested Shares means any portion of the Restricted Stock subject to this Agreement that has not become vested pursuant to this Section 2.

  • Company Stock Options shall have the meaning given to such term in Section 3.3(a) hereof.

  • Phantom Shares means an Award of the right to receive Shares issued at the end of a Restricted Period which is granted pursuant to Section 6(e) of the Plan.

  • Vested Shares means "Vested Shares" as defined in the Award Agreement.

  • PSUs means the outstanding performance share units governed by the performance share unit plan of the Company dated December 16, 2013, as amended from time to time;

  • Bonus Stock means shares of Common Stock which are not subject to a Restriction Period or Performance Measures.

  • Performance Share Units means Performance Share Units granted to an Eligible Individual under Section 9.1(b).

  • RSUs means restricted stock units.

  • Incentive Share Option means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto.

  • Vested Company Option means each Company Option outstanding as of immediately prior to the Effective Time that is vested as of immediately prior to the Effective Time or will vest solely as a result of the consummation of the Merger.

  • Share Appreciation Right means the right pursuant to an Award granted under Section 8 below to receive an amount equal to the excess, if any, of (i) the aggregate Fair Market Value, as of the date such Award or portion thereof is surrendered, of the Shares covered by such Award or such portion thereof, over (ii) the aggregate Exercise Price of such Award or such portion thereof.

  • Share Units means the hypothetical Shares that are credited to the Share Unit Accounts in accordance with Section 5.3.

  • Bonus Stock Award means an award of Bonus Stock under this Plan.

  • DSUs means the outstanding deferred share units issued under the DSU Plan.

  • Stock Reload Option means any option granted under Section 6.3, below, as a result of the payment of the exercise price of a Stock Option and/or the withholding tax related thereto in the form of Stock owned by the Holder or the withholding of Stock by the Company.

  • Performance Units means an Award which may be earned in whole or in part upon attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

  • Director Option means an Option granted pursuant to Section 6.

  • Equity Award means all incentive stock options, non-statutory stock options, shares of restricted stock, restricted stock units or other incentive equity awards in respect of shares of the Company’s equity securities that have been or will be granted to you by the Company.