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

• This could require us to delay the acceptance of any Eligible Option Grants that you elect to exchange.

• Determination of Validity; Rejection of Eligible Option Grants; Waiver of Defects; No Obligation to Give Notice of Defects.

• The Optionee may notify the Plan record-keeper in writing in advance that the Optionee does not wish for the Auto-Exercise Eligible Option to be exercised.

• We recommend that you obtain current market quotations for our common stock before deciding whether to elect to exchange your Eligible Option Grants.

• We may at any time, and from time to time, extend the period of time during which the Offer is open and delay accepting any Eligible Option Grants tendered for exchange by announcing the extension and/or giving oral or written notice of the extension to the option holders.

More Definitions of Eligible Option

Eligible Option means each Company Option, whether vested or unvested, that has not expired or been exercised in full prior to the Effective Time and which has an exercise price per share less than the value of the sum of the Common Per Share Cash Amount and Common Per Share Stock Amount.

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 means each Company Option that (a) has not previously expired or been exercised in full, (b) has an exercise price of less than the Merger Consideration Price Per Share (determined without regard to the aggregate exercise price of Company Options) and (c) is vested and is exercisable at the Closing to the extent set forth in the Company Closing Certificate.

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

Eligible Option means each Option that is outstanding immediately prior to the Effective Time having an exercise price per share that is less than the Per Share Price, determined prior to giving effect to any adjustment in respect thereof (which, for this purpose, Per Share Price shall be determined as if all Options outstanding immediately prior the Effective Time were Eligible Options), irrespective of whether it is vested or unvested as of the Effective Time.

Eligible Option has the meaning assigned in Section 3.03.

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