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

  • If an Optionee's service as a Director terminates for Cause, the Formula Option granted to the Optionee hereunder shall immediately terminate in full and no rights thereunder may be exercised.

  • 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.

  • The purchase price of the Shares subject to the Formula Option shall be equal to one hundred percent (100%) of the Fair Market Value as of the date of grant.

  • 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.

  • Except in the case of a Non-Employee Director's Formula Option, the Board may, in its discretion, permit any Option to be exercised, in whole or in part, prior to the time when it would otherwise be exercisable.

  • 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.

  • If an Optionee dies after his or her service as a Director terminates, then the Formula Option may be exercised by his or her Beneficiary within the period specified in Sections.

  • The Formula Option (or portion thereof), to the extent not yet vested and exercisable as of the date the Director's service as a Director terminates for any reason shall terminate immediately upon such date.

  • If an Optionee's service as a Director terminates by reason of the Optionee's resignation or removal from the Board due to Disability, the Optionee or his or her guardian or legal representative may, for a period of one (1) year after such termination, exercise his or her Formula Option, after which time the Formula Option shall automatically terminate in full.


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 any option to purchase shares of Stock granted pursuant to Section 5 below.

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

  • 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.

  • 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).

  • 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.

  • SARS means the South African Revenue Service.