Prior Option definition

Prior Option means an option to purchase a Common Share granted under the Prior Option Plan. Each whole Prior Option is exercisable for one-fifth of a post-consolidation Common Share upon payment of the applicable exercise price.

Prior Option means an Option granted prior to July 1, 2000.

Prior Option. As defined in the recitals to this Agreement. ------------

Examples of Prior Option in a sentence

• If Options granted under this Plan (or stock options granted under the Prior Option Plan) are surrendered, terminate or expire without being exercised in whole or in part, new Options may be granted covering the Common Shares not purchased under such lapsed Options (or such lapsed stock options).

• For the avoidance of doubt, for purposes of the Prior Option Awards, the term “Cause” shall have the meaning set forth in this Agreement.

• Notwithstanding anything in this Agreement to the contrary or the post-termination vesting period specified in the applicable award agreement, in the event of the termination of Executive’s employment by the Company for Cause, any outstanding Prior Option Awards that are vested at such time shall remain exercisable for six (6) months following the Date of Termination (but in no event later than the final expiration date specified in the applicable award agreement).

• For example, if you have a Six Months Prior Option with a ten-year term that you elect to exchange and, at the time the Replacement Option is granted, one year has passed since you received the original grant, the Replacement Option will have a term of nine years.

• The stock option plan shall have substantially similar terms to the Union Employee Option Plan dated February 12, 2009 (the “Prior Option Plan”) and shall be in addition to the Prior Option Plan.

More Definitions of Prior Option

Prior Option means an option granted by the Predecessor Employer that became an option for Common Shares on July 14, 2004.

Prior Option means an outstanding Option, but in all cases excluding Prior Employee Options, previously granted by the Company to a Director in his or her capacity as such pursuant to any of the Company’s stock option plans, other than the Predecessor Plan.

Prior Option means an incentive stock option or a nonqualified stock option granted under a Prior Plan.

Prior Option means a stock option of the Company granted under a Prior Plan and outstanding on the Effective Date;

Prior Option means an Option that is outstanding on September 30, 1999, but excluding Option grants that are effective as of that date.

Prior Option means an option to purchase common shares of AuRico Gold Inc. granted pursuant to the AuRico LTIP prior to the Effective Date which was exchanged for a portion of an Option pursuant to the Plan of Arrangement;

Prior Option means each Option to purchase 10,000 shares of Stock granted by the Corporation to each Current Eligible Director prior to the Effective Date.