Eligible Option definition

Eligible Option means an outstanding Option, held by an Eligible Optionee, which has a remaining term of at least one year.

Eligible Option means any option granted under the Plan where, as of the date specified by the terms of the Exchange Offer (which date shall be not more than ten business days prior to any exchange offer), the per share exercise price of such option is greater than the higher of (i) the then-current 52-week high trading price of the Shares and (ii) 150% of the then-current price of the Shares.

Eligible Option means any Option to the extent such Option is exercisable at any time with respect to any shares of Pentech Common Stock subject thereto at an exercise price less than $1.40 (whether or not such Option is vested or exercisable at the Effective Time with respect to such shares).

Examples of Eligible Option in a sentence

• For more information regarding the CEO program, see USDA Food and Nutrition Service, Community Eligible Option: Guidance and Process for Selection of States for School Year 2011-2012 (Memo Code SP 23-2011) (dated Mar.

• Eligible Option: The Facility is available under the Growth Option only, under the Direct and Regular Plan available under the scheme.

• United States Department of Agriculture, Food and Nutrition Service, Community Eligible Option, available at http://www.fns.usda.gov/cnd/governance/Policy-Memos/2011/SP23-2011_os.pdf.

• In accordance with procedures established by the Administrator, an Optionee may notify the Company’s record-keeper in writing in advance that he or she does not wish for the Auto-Exercise Eligible Option to be exercised.

• In the event of a take-over bid the board will have the sole discretion to amend, abridge or otherwise eliminate any vesting terms, conditions or schedule so that despite the other terms of the Option Plan, any options granted under the Option Plan may be exercised in whole or in part by an Eligible Option Person so as to permit Eligible Option Persons to tender the shares received upon the exercise of options pursuant to the offer.

More Definitions of Eligible Option

Eligible Option means each Company Option that has not expired or been exercised prior to the Effective Time and which (a) has an exercise price per share of Company Common Stock less than the Company Share Value and (b) is vested or becomes vested on or prior to the Closing Date in accordance with the terms thereof (after giving effect to any vesting which is triggered by the transactions contemplated herein, including pursuant to Section 3.1 hereof) or by action of the Company.

Eligible Option has the meaning ascribed to it in Section 1.6(b).

Eligible Option means an option that was granted under the Plans, that has a current exercise price that is lower than the fair market value per share of the Company’s common stock on the date that has been determined to be the “revised measurement date” for that option for financial accounting purposes, that is outstanding on the date that the Offer expires (i.e., that has not been exercised), that is held by an Eligible Optionee (as defined below), and that was unvested (in whole or in part) as of January 1, 2005 or that has been determined by the Company to be potentially subject to adverse taxation under Section 409A.

Eligible Option has the meaning assigned in Section 3.03.

Eligible Option is defined in Section 1.8(b) of the Agreement.

Eligible Option means an Option that is not ineligible to participate in the Closing Merger Consideration or any Post-Closing Payment pursuant to and in accordance with Section 2.4(e).

Eligible Option means an Option with an exercise price per share of less than the Per Share Amount that has not been exercised prior to the Effective Time.