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.

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

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

Examples of Prior Option in a sentence

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).
The Company shall provide the Optionee with prompt written notice of any exercise of the Prior Option and of any modifications, alterations or amendments of the Prior Option pursuant to any agreement or document to which the Company is a party.
The Option shall be exercisable, in whole or in part, only to the extent that the Prior Option is actually exercised, and shares of Common Stock shall be issued in respect of the exercise of the Option only to the extent that shares of Common Stock are issued in respect of the exercise of the Prior Option.
Except as otherwise provided herein, the Option, to the extent not heretofore exercised, shall terminate upon termination for any reason of the Prior Option.

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 an Option granted prior to July 1, 2000."

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

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.