Formula Option definition

Formula Option means an Option granted pursuant to Section 6.
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Formula Option means an NSO granted to members of the Committee pursuant to section 6(m) hereof;
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Formula Option means an NSO granted to non-employee members of the Board of Directors pursuant to section 6(m) hereof;
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Examples of Formula Option in a sentence

  • The purchase price for Shares under each Formula Option shall be equal to 100% of the Fair Market Value of such Shares on the date the Formula Option is granted.

  • On the date on which the Board appoints, or the stockholders of the Company elect, a person who is not an employee of the Company as a member of the Board for the first time, such director will be granted a Formula Option to purchase _________________ shares of Stock.

  • Immediately after the completion of each annual meeting of the stockholders of the Company, each member of the Board who is not an employee of the Company will be awarded a Formula Option to purchase _________________ shares of Stock.

  • If an Optionee ceases to serve as a Director for any reason, the Optionee shall have no rights with respect to any Formula Option which has not then vested pursuant to the preceding sentence, and the Optionee shall automatically forfeit any Formula Option which remains unvested.

  • Each Formula Option shall be fully vested and exercisable on the date of grant; PROVIDED, HOWEVER, that the Optionee is a Director on such date.

  • Each Nonemployee Director shall be granted a Formula Option in respect of 5,000 Shares on the first business day of January in each year that the Plan is in effect provided that the Nonemployee Director is a Director on such date; PROVIDED, HOWEVER, that a Nonemployee Director shall not be entitled to receive an annual grant pursuant to this Section 6.1(b) for the calendar year in which such Nonemployee Director is first elected or appointed to the Board.

  • Immediately after the completion of each annual meeting of the stockholders of the Company, each member of the Committee will be awarded a Formula Option to purchase __ shares of Stock.

  • Formula Options shall be subject to such additional terms as may be set forth in a Non-Qualified Formula Stock Option Agreement (the "Formula Option Agreement") complying with Section 5 hereof, approved by the Committee and used to evidence the grant of a Formula Option.

  • If a Non-Employee Board Member ceases to be a director of the Company for any reason other than death or Disability, his or her right to exercise the Formula Option, and the timing of such exercise, shall be governed by the applicable provisions of Paragraph F of Article VII.

  • Each Nonemployee Director who becomes a Director after June 17, 1999 shall, upon becoming a Director, be granted a Formula Option in respect of 5,000 Shares.


More Definitions of Formula Option

Formula Option means a Nonqualified Stock Option granted pursuant to Section 6.
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Formula Option means an Option granted pursuant to Section 5 of the Plan, as amended.
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Formula Option means a Nonstatutory Option granted automatically to a Non-Employee Board Member upon his or her initial election, and any subsequent re-election, as a Non- Employee Board Member.
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Related to Formula Option

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

  • 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.

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

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

  • 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.

  • Nonstatutory Stock Option means an Option not intended to qualify as an Incentive Stock Option.

  • Full Value Award means an Award other than in the form of an ISO, NQSO, or SAR, and which is settled by the issuance of Shares.