Emulex Option definition

Emulex Option means each option to purchase shares of the Company that is granted to the Executive prior to a Change in Control and each option to purchase shares of the stock of the Company’s successor (by purchase of assets, merger, consolidation, reorganization or otherwise) that is granted to the Executive by such successor in connection with or after a Change in Control, whether in exchange or substitution for an option granted to the Executive by the Company prior to the Change in Control or otherwise.
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Emulex Option means each option to purchase shares of the Company that is granted to the Eligible Employee prior to a Change in Control and each option to purchase shares of the stock of the Company’s successor (by purchase of assets, merger, consolidation, reorganization or otherwise) that is granted to the Eligible Employee by such successor in connection with or after a Change in Control, whether in exchange or substitution for an option granted to the Eligible Employee by the Company prior to the Change in Control or otherwise.
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Emulex Option means each option to purchase shares of stock of Emulex which is granted to you by Emulex prior to a Change in Control and each option to purchase shares of stock of Emulex’s successor (by purchase of assets, merger, consolidation, reorganization or otherwise) which is granted to you by such successor in connection with or after a Change in Control in exchange or substitution for an option granted to you by Emulex prior to the Change in Control. Emulex Option does not include any option to purchase shares of stock of QLogic Corporation that you received in connection with the spinoff of QLogic Corporation from the Company and Emulex.
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Examples of Emulex Option in a sentence

  • For purposes of determining expiration of the term and vesting of the right to exercise a New Emulex Option received in connection with the conversion of an Outstanding Option held by a person who is a director of the Company immediately after the Distribution, such person's service as a director of the Company following the Distribution shall be credited as if it were service as a director of Emulex.

  • Upon the Distribution, each option then outstanding under the Emulex Plan (an "Outstanding Option") shall be automatically converted into two separately exercisable options (collectively, the "New Options"), one to purchase common stock of Emulex (a "New Emulex Option") and the other to purchase common stock of the Company (a "Company Option").

  • Each New Emulex Option will be deemed granted under the Emulex Plan and each Company Option will be deemed granted under this Plan.

  • If, within two years after the Change in Control and prior to your Normal Retirement Date, your employment with the Company is terminated by the Company without Cause or by you because of a Demotion, the vesting of your right to exercise each Emulex Option held by you as of the Termination Date will be fully accelerated as of the Termination Date so that you will have the right to exercise such Emulex Option in full at any time during its remaining term.

  • In addition to the acceleration described above in Section 5(a), following a Termination Event during the Change in Control Period, the Executive will be permitted to exercise any Emulex Option for a period of twelve (12) months following the Termination Date, but in no event later than ten (10) years following the date of grant.

  • Upon the Distribution, except as otherwise provided in a written instrument with respect to a specified option outstanding under the Plan on the date of the Distribution, each option then outstanding under the Emulex Plan (an "Outstanding Option") shall be automatically converted into two separately exercisable options (collectively, the "New Options"), one to purchase common stock of the Company (a "Company Option") and the other to purchase common stock of Emulex (a "New Emulex Option").

  • Each Company Option will be deemed granted under the Plan and each New Emulex Option will be deemed granted under the Emulex Plan.

  • In addition to the acceleration described above in Section 5(a), following a Termination Event during the Change in Control Period, Eligible Employees will be permitted to exercise any Emulex Option for a period of twelve (12) months following their Termination Date, provided that such Emulex Option has not by such time expired according to its terms.

  • In addition to the acceleration described above in Section 5(a), following a Termination Event during the Change in Control Period, Eligible Employees will be permitted to exercise any Emulex Option for a period of twelve (12) months following the Termination Date, but in no event later than ten (10) years following the date of grant.

  • Upon a Termination Event during the Change in Control Period, the vesting of the Executive’s right to exercise each Emulex Option, and vest in the Stock Awards held by the Executive as of the Termination Date will be fully accelerated as of the Termination Date so that the Executive will have the right to exercise such Emulex Option in full at any time during its remaining term and all grants of Stock Awards received by the Executive shall thereafter be fully vested and non-forfeitable.

Related to Emulex Option

  • 3(i) Option means an Option granted pursuant to Section 3(i) of the Ordinance to any person who is Non- Employee.

  • 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.

  • 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 Option means any Option, which has already been vested according to the Vesting Dates.

  • Parent Stock Option means any option to purchase Parent Common Stock.

  • Top-Up Option has the meaning set forth in Section 1.04(a).

  • Unvested Company Option means any Company Option that is not a Vested Company Option.

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

  • Vested Company Option means each Company Option outstanding as of immediately prior to the Effective Time that is vested as of such time or will vest in connection with the consummation of the transactions contemplated hereby (whether at the Effective Time or otherwise).

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

  • Employee Option means an Option granted pursuant to Section 5.

  • Share Option means a Nonqualified Share Option or an Incentive Share Option.

  • Stock Option means a contractual right granted to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement.

  • Reload Option means any Option granted under Section 6(a)(iv) of the Plan.

  • Company Stock Option means each option to purchase shares of Company Common Stock outstanding under the Company Stock Plans.

  • Parent Stock Plan has the meaning set forth in Section 6.2(a).

  • Option means a stock option granted pursuant to the Plan.

  • Optioned Stock means the Common Stock subject to an Option.

  • Restricted Stock Plan means the RPM, Inc. 1997 Restricted Stock Plan and any successor plan or arrangement thereto.

  • Parent Option means an option to purchase shares of Parent Common Stock.

  • Restricted Stock Purchase Right means a right to purchase Stock granted to a Participant pursuant to Section 8.

  • Shoe Option means the Initial Purchasers’ option to purchase up to seventy five million dollars ($75,000,000) aggregate principal amount of additional Notes as provided for in the Purchase Agreement.

  • INDEPENDENT STOCK APPRECIATION RIGHT or "INDEPENDENT RIGHT" means a right granted pursuant to subsection 8(b)(3) of the Plan.

  • Option Exercise Period has the meaning set forth in Section 5.3(c).

  • Related Option means an Option with respect to which a Stock Appreciation Right has been granted.