Section 102 Option definition

Section 102 Option means any Company Option that was granted pursuant to Section 102(b) of the Ordinance.

Section 102 Option means any Company Option that was granted pursuant to Section 102(b)(2) and, where applicable, Section 102(b)(3) of the ITO and held in trust by the Section 102 Trustee.

Section 102 Option means any Option that was granted pursuant to Section 102 of the ITO and held in trust by the Section 102 Trustee.

Examples of Section 102 Option in a sentence

• Without derogating from the generality of the foregoing, with respect to Converted Options substituting any Company Option that is a Section 102 Option, consistent with the terms of the Israeli Option Tax Ruling (i) such Converted Options shall continue to be classified under the same tax arrangement and (ii) such Converted Options shall be deposited with the Section 102 Trustee in accordance with the provisions of Section 102 and the Israeli Option Tax Ruling.

• As a condition precedent to the grant of a Section 102 Option, the Participant will sign an undertaking under the Stock Option Agreement to release the Trustee from any liability in respect of any action or decision duly taken and bona fide executed in relation with the Plan, or any Option or Share granted to the Participant thereunder.

• If HECO terminates this Contract pursuant to this Section 10.2 (Option to Terminate), then this Contract shall be of no further force and effect and the Parties shall each be relieved of any and all further obligations to each other, save and except for any obligations and liabilities incurred by a Party prior to the date of termination.

• Each Option Agreement shall state, inter alia, the number of Shares to which the Option relates, the type of Option granted thereunder (whether Section 3(i) Options, Section 102(b) Option, Other Section 102 Option, 3(i) Options, ISO or NQSO), the purchase price per Share and the vesting schedule pursuant to which such Option shall become exercisable.

• Any amount payable hereunder to each holder of a vested Company Option which is a Section 102 Option on account thereof shall be paid, in accordance with the Option Tax Ruling and the Interim Option Tax Ruling, if obtained, to the Section 102 Trustee and held in trust by the Section 102 Trustee pursuant to the applicable provisions of Section 102 of the Israel Code and the regulations promulgated thereunder and the Option Tax Ruling and Interim Option Tax Ruling, if obtained.

More Definitions of Section 102 Option

Section 102 Option means any Company Option that was intended to be granted pursuant to and is subject to Section 102(b)(2) of the Israeli Income Tax Ordinance.

Section 102 Option means a Company Option granted subject to Section 102(b)(2) of the Israeli Code and intending to qualify under the “capital gains track” set forth therein.

Section 102 Option means any Option granted to an Employee pursuant to Section 102 of the Ordinance.

Section 102 Option means an Option granted to an Eligible Employee and intended to qualify under Section 102.

Section 102 Option means a Company Option granted under Section 102(b)(2) of the Ordinance. “Section 102 Securities” means Section 102 Options and Section 102 Shares.

Section 102 Option means any option to purchase Common Shares that was granted and is subject to certain taxes pursuant to Section 102(b)(2) of the Ordinance.

Section 102 Option means any Option that was intended to be granted pursuant to Section 102(b)(2) of the Ordinance.