New Option definition
Examples of New Option in a sentence
The Board will in good faith attempt to time the grant of the 2x Time Options relatively near in time to but before the earlier of (i) a “Change in Control” or “Public Offering” as defined in the New Option Plan or (ii) the time at which the Board in its good faith judgment, believes that it is likely that the fair market value per share of HCA common stock will soon thereafter exceed the proposed exercise price of the 2x Time Options, but not later than the fifth anniversary of the Closing Date.
After the Effective Time, each New Option shall be exercisable and shall vest upon the same terms and conditions as were applicable to the related Company Stock Option immediately prior to the Effective Time, except that all references to the Company shall be deemed to be references to Parent.
The 2x Time Options will have an exercise price of $102 per share (subject to adjustment to take into account any share splits, extraordinary cash dividends, or other adjustment events under Section 8 of the New Option Plan, in any case made on or after Closing).
This Agreement and the New Option Plan and, to the extent expressly provided herein, the Severance Agreement (as modified herein), contain the entire agreement between the parties concerning the subject matter hereof and supersede all prior agreements and understandings, written and oral, between the parties with respect to the subject matter of this Agreement and the New Option Plan, including without limitation the Prior Employment Agreement.
Additionally, although certain earlier option agreements provided for full acceleration of unvested shares if you were terminated without cause or resigned for good reason within 18 months after a corporate transaction, the New Option agreements provide for only 18 months worth of accelerated vesting under the same circumstances.