Nonqualified Option definition

Nonqualified Option means any Option that is not an Incentive Stock Option.

Nonqualified Option means an option to purchase Stock granted under this Plan other than an Incentive Option.

Nonqualified Option means an Option granted under Section 7 that is not intended to qualify as an incentive stock option under Code Section 422.

Examples of Nonqualified Option in a sentence

• The Committee, in its sole discretion, may permit a transfer of a Nonqualified Option to (i) a trust for the benefit of the Optionee, (ii) a member of the Optionee’s immediate family (or a trust for his or her benefit) or (iii) pursuant to a domestic relations order.

• To the extent any Option does not qualify as an Incentive Option, it shall constitute a separate Nonqualified Option.

• The purchase price of each share of Stock purchasable under a Nonqualified Option shall not be less than 100% of the Fair Market Value of such share of Stock on the date the Option is granted.

• The Award Agreement for an Option shall indicate whether the Option is intended to be an Incentive Stock Option or a Nonqualified Option.

• To the extent that any Option designated as an Incentive Option fails in whole or in part to qualify as an Incentive Option, including, without limitation, for failure to meet the limitations applicable to a 10% Shareholder or because it exceeds the annual limit provided for in Section 5.6 below, it shall to that extent constitute a Nonqualified Option.

More Definitions of Nonqualified Option

Nonqualified Option means an Option granted under the Plan other than an Incentive Option.

Nonqualified Option or "NQO" means any Option, including a Deferred Compensation Option, granted pursuant to the Plan that is not an Incentive Stock Option.

Nonqualified Option means an Option that is not an “incentive stock option” within the meaning of Section 422 of the Code and includes any Option designated or intended as a Nonqualified Option and any Option designated or intended as an Incentive Stock Option that fails to meet the applicable legal requirements thereof.

Nonqualified Option means any Option that is not a Qualified Option.

Nonqualified Option means an Option Right that is not intended to qualify as a Tax-Qualified Option.

Nonqualified Option means an Option that is not an Incentive Option.

Nonqualified Option means an option to purchase Common Stock of the Corporation which meets the requirements set forth in the Plan but does not meet the definition of an incentive stock option within the meaning of Section 422 of the Code. The stock option agreement for a Nonqualified Option shall state that the option is intended to be a Nonqualified Option.