Substitute Option definition

Substitute Option means an Option granted in substitution for, or upon the conversion of, an option granted by another entity to purchase equity securities in the granting entity.

Substitute Option. Substitute Purchase Price" and "Substitute Common Stock," respectively.

Substitute Option means an option described in Section 6(j).

Examples of Substitute Option in a sentence

• The exercise price of the Substitute Option per share of the Substitute Common Stock (the "Substitute Purchase Price") shall then be equal to the Purchase Price multiplied by a fraction in which the numerator is the number of shares of the Issuer Common Stock for which the Option was theretofore exercisable and the denominator is the number of shares for which the Substitute Option is exercisable.

• The Board shall have absolute and uncontrolled discretion to determine whether the Optionee has been offered a firm commitment and whether the tendered Substitute Option will substantially preserve to the Optionee the rights and benefits of the Option outstanding hereunder.

• The Substitute Option Issuer shall also enter into an agreement with the then-holder or holders of the Substitute Option in substantially the same form as this Agreement, which shall be applicable to the Substitute Option.

• Substitute Option Issuer shall also enter into an agreement with Holder in substantially the same form as this Agreement, which shall be applicable to the Substitute Option.

• In any event, any Substitute Option for an Incentive Stock Option shall comply with the requirements of Code section 425(a).

More Definitions of Substitute Option

Substitute Option means an option under which Optionee has the right to purchase on substantially equivalent terms (as hereinafter defined) (in lieu of Shares), the stock, securities, or other property he would have been entitled to receive upon the consummation of such merger or consolidation had he exercised the option immediately prior thereto. For purposes of the preceding sentence, "substantially equivalent terms" shall be those terms given approval by the Board in their sole discretion.

Substitute Option means an Option that has been issued under this Plan to certain persons pursuant to the Benefits Agreement.

Substitute Option has the meaning set forth in Section 3.3(a).

Substitute Option shall have the meaning set forth in Section 2.8(a).

Substitute Option. Substitute Purchase Price", "Substitute Common Stock", "Substitute Option Repurchase Consideration", and "Substitute Option Request Date", respectively.

Substitute Option has the meaning set forth in Section 5.14(a).

Substitute Option means an Option granted in assumption of, or in substitution for, an outstanding option previously granted by a company acquired by the Company or an Affiliate or with which the Company or an Affiliate combines.