Lapsed Shares definition

Lapsed Shares means those Shares which were the subject of options which had been granted and accepted under this Scheme or any of the other schemes but subsequently lapsed. For the avoidance of doubt, “Lapsed Shares” shall exclude “Cancelled Shares”;

Lapsed Shares means the Shares underlying the Lapsed Share Awards;

Lapsed Shares shall exclude "CANCELLED SHARES";

Examples of Lapsed Shares in a sentence

• If any Option expires, terminates or is terminated for any reason prior to exercise in full, or any Restricted Shares are forfeited, or any Other Stock-Based Award is terminated or forfeited, the Shares that were subject to the unexercised portion of such Option or the Restricted Shares or Other Stock-Based Awards that are forfeited or terminated (collectively, "Lapsed Shares"), as the case may be, shall be available immediately for future grants of Awards under the Plan.

• In exchange for the promises, benefits, and covenants set forth herein, Wood agrees that he shall exercise his option purchase right as to no more than 83,306 of the Vested Shares (the "Exercisable Shares"), and that his option to purchase the remaining balance of the Vested Shares, 25,027 shares (the "Lapsed Shares"), shall, as of the Effective Date, lapse and become null and void, and the Lapsed Shares shall revert to Employer's 2003 Equity Incentive Plan.