Premium Options definition
Examples of Premium Options in a sentence
The options granted hereunder are “Nonqualified Stock Options” and are referred to herein as “Options.” One-half of the total number of Options granted hereunder will be Market Options and one-half of the total number of Options granted hereunder will be Premium Options.
Any shares subject to the Premium Options that become vested and exercisable in accordance with the foregoing shall remain exercisable from the date of such termination of employment until the date that is 90 days following the date that such shares would otherwise have become fully vested in accordance with the vesting schedule set forth in Section 5 hereof in the absence of the foregoing acceleration of vesting.
Any shares subject to the Premium Options that become vested and exercisable in accordance with the foregoing shall remain exercisable from the date of such termination of employment until the date that is 90 days following the date that such shares would otherwise have become vested and exercisable in accordance with the vesting schedule set forth in Section 5 hereof in the absence of the foregoing acceleration of vesting.
Notwithstanding the foregoing, the parties hereto shall enter into stock option agreements in respect of the Time-Vested Option and the Premium Options, setting forth terms and conditions consistent with the provisions of this Agreement and such other terms and conditions approved by the Compensation Committee and consistent with the Company's Executive Stock Incentive Plan.
With respect to the Options, 50% shall be Time-Based Options, as such term is defined in the Option Agreements, 25% shall be Premium Options, as such term is defined in the Option Agreements, and 25% shall be Performance Based Options, as such term is defined in the Option Agreements.
One-half of these stock options will have an exercise price equal to Fair Market Value ("FMV Options") and the other half will have an exercise price equal to 130% of Fair Market Value ("Premium Options").
If the Optionee’s service as a Non-Employee Director terminates by reason of the Optionee’s death, any portion of this Premium Option outstanding on such date shall immediately vest if not already vested and all such Premium Options (whether or not vested at the time of death) may thereafter be exercised by the Optionee’s legal representative or legatee for a period of 12 months from the date of death or until the Expiration Date, if earlier.
If the Optionee’s employment terminates by reason of the Optionee’s death, any portion of this Premium Option outstanding on such date shall immediately vest if not already vested and all such Premium Options (whether or not vested at death) may thereafter be exercised by the Optionee’s legal representative or legatee for a period of 12 months from the date of death or until the Expiration Date, if earlier.
Upon execution by ▇▇▇▇▇▇▇ and the Customer, the Contract supersedes all previous or existing agreements, negotiations, representations and proposals, whether written, oral, express or implied, on that subject matter.
Magic will keep complete and accurate records regarding the Premium Options Fees, the Voice Service Revenue, the Upgrade Revenue, the payments received by Magic from sponsors and advertisers of the Introductory QVS Version of the Quic▇▇▇.▇▇▇ ▇▇▇ce Service, and Intuit's Share of the costs of operating the Introductory QVS Version of the Quic▇▇▇.▇▇▇ ▇▇▇ce Service.