Exercisable Percentage definition

Exercisable Percentage means, with respect to any Option, the cumulative percentage of the total number of Option Shares subject to such Option (measured as of the Grant Date) which a Participant has the right to receive upon exercising such Option.

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Exercisable Percentage means, with respect to any Option, the cumulative percentage of the total number of Units subject to such Option (measured as of the Grant Date) which a Grantee has the right to receive upon exercising the Option.

Exercisable Percentage means, in the event a Participant desires to exercise some or all of his or her Options, (i) if the Aggregate Fair Market Value is greater than the Aggregate Grant Date Fair Market Value, then the percentage (not to exceed 100%) calculated as follows: 100 multiplied by the quotient of (A) the Aggregate Fair Market Value minus the Aggregate Grant Date Fair Market Value divided by (B) the Fair Market Value at the time of determination of the Exercisable Percentage minus the Company Tranche Exercise Price; and (ii) if the Aggregate Fair Market Value is less than or equal to the Aggregate Grant Date Fair Market Value, then 0%; provided, that, with respect to any Option outstanding as of December 31, 2009 (the “Existing Options”), “Exercisable Percentage” shall mean, in the event a Participant desires to exercise some or all of his or her Existing Options, (i) if the Aggregate Fair Market Value is greater than the Company Tranche Exercise Price, then the percentage (not to exceed 100%) calculated as follows: 100 multiplied by the quotient of (A) the Aggregate Fair Market Value minus the Company Tranche Exercise Price divided by (B) the Fair Market Value at the time of determination of the Exercisable Percentage minus the Company Tranche Exercise Price; and (ii) if the Aggregate Fair Market Value is less than or equal to the Aggregate Grant Date Fair Market Value, then 0%. The Exercisable Percentage shall be determined for each tranche of Options that the Participant desires to exercise on a tranche by tranche basis.

Examples of Exercisable Percentage in a sentence

Except as provided in Section 3.2 hereof, this Option shall become exercisable as follows: Date OptionBecomes Exercisable Percentage of shares of Common Stock as to which Option Is Exercisable This Option shall become exercisable, pursuant to the schedule above, with respect to the nearest whole number of shares of Common Stock, as determined by the Committee in its sole discretion.
Date First Exercisable Percentage Exercisable ---------------------- ---------------------- August 31, 1999 33 1/3% August 31, 2000 66 2/3% August 31, 2001 100% The Option shall become immediately exercisable in full in the event that Executive's employment with the Company is terminated: (i) by the Company other than for Cause, (ii) by Executive for Good Reason or (iii) by reason of the death or Disability of the Executive.
The Participant acknowledges and agrees that the exercise of the Option is subject to the terms of the Plan, including pursuant to Sections 4.9 and 4.10, and that the Participant’s ability to exercise Options is limited to the Exercisable Percentage.
Notwithstanding the foregoing or anything to the contrary herein, (i) if the Option has a Related Sovereign Option, the Option may only be exercised to the extent of the Exercisable Percentage; and (ii) except as otherwise determined by the Board, the Option may only be exercised within the period commencing on June 1 and ending on June 30 or the period commencing on December 1 and ending on December 31 of each year (each such period, an “Exercise Window”).
Unless otherwise provided in this Agreement, this Option shall become exercisable as follows: Date OptionBecomes Exercisable Percentage of shares of Common Stock as to which Option Is Exercisable This Option shall become exercisable, pursuant to the schedule above, with respect to the nearest whole number of shares of Common Stock, as determined by the Committee in its sole discretion.

More Definitions of Exercisable Percentage

Exercisable Percentage means (i) in connection with a Third Party Sale, the percentage of the shares of Common Stock subject to the Option that Mr. Donald is entitled to sell pursuant to the exercise of his "tag- along" rights under the Stockholders Agreement and (ii) in connection with a Public Offering, the percentage of the shares of Common Stock then beneficially owned by the ML Investors (as defined in the Stockholders Agreement) which are sold in the Public Offering.

Exercisable Percentage means, in the event a Participant desires to exercise Options that have Related Sovereign Options, (i) if the Aggregate Fair Market Value is greater than the Aggregate Exercise Price, then the percentage (not to exceed 100%) calculated as follows: 100 multiplied by the quotient of (A) the Aggregate Fair Market Value minus the Aggregate Exercise Price divided by (B) the Fair Market Value minus the Exercise Price, in each case at the time of determination of the Exercisable Percentage; and (ii) if the Aggregate Fair Market Value is less than or equal to the Aggregate Exercise Price, then 0%.

Exercisable Percentage means (i) in connection with a Third Party Sale, the percentage of the shares of Common Stock subject to the Option that the Optionee is entitled to sell pursuant to the exercise of his "tag-along" rights under Section 5.6 of the Stockholders Agreement and (ii) in connection with a Public Offering, the percentage of the shares of Common Stock then beneficially owned by the ML Investors (as defined in the Stockholders Agreement) which are sold in the Public Offering.