Examples of Option Notification in a sentence
Each Option granted under the Plan shall be evidenced by a Notification of the Grant of an Option ("Notification").
The Plan Administrator of the Company hereby grants to the Optionee named in the Stock Option Notification (the “Notice”) attached as Part I of this Agreement (the “Optionee”) an option (the “Option”) to purchase the number of Shares, as set forth in the Notice, at the option price per share set forth in the Notice (the “Option Price”), subject to the terms and conditions of the Plan, which is incorporated herein by reference.
The Compensation Committee may call in for endorsement or cancellation and re-issue of any Award Notification or Option Notification in order to take account of such adjustment.
The term of each Option shall be the term stated in the Option Notification; provided, however, that in the case of an Incentive Stock Option, the term shall be no more than 10 years from the date of grant unless the Incentive Stock Option is granted to an Optionee who, at the time of the grant, owns stock representing more than 10% of the voting power of all classes of stock of Wal-Mart or any Parent/Subsidiary Corporation, in which case the term may not exceed 5 years from the date of grant.
Each Option shall be a Nonqualified Option unless designated otherwise in the Option Notification.
Such Exercise of Option Notification shall, (i) identify the particular patent applications, patents and specific indication(s) within the Option Field of Use for which Graphite wishes to obtain a license from Stanford, and (ii) include a written Commercialization Plan for at least one contemplated product and service within the applicable field of use.
An Award or Option shall be granted by the issue of an Award Notification or an Option Notification, as the case may be.
Notwithstanding any other provision of this Option to the contrary, neither party will be obligated to negotiate a license agreement beyond the period of (i) six (6) months from receipt of Exercise of Option Notification (“Negotiation Period”), or (ii) expiration or termination of the Option, whichever is later unless otherwise mutually agreed in writing by the parties.
The closing of a purchase by Xxxxxxxxx Xxxxxxxxx pursuant to the provisions of Section 7.5, shall be consummated on a date designated by Xxxxxxxxx Xxxxxxxxx, but such date shall be not less than thirty (30) calendar days nor later than sixty (60) calendar days after the later of last day on which Xxxxxxxxx Xxxxxxxxx could have delivered the Xxxxxxxxx Option Notification or the date of the final determination of the Fair Market Value under Section 7.6 (Fair Market Valuations), as the case may be.
If an Optionee’s Continuous Status as an Associate is terminated, the Optionee may, subject to Wal-Mart’s right to terminate the Associate for Cause, exercise Options vested as of the termination date to the extent set out in Optionee’s Option Notification.