Supplemental Option definition
Examples of Supplemental Option in a sentence
For purposes of this paragraph only, “Option Value” will equal the product of (x) the Option Reference Price, multiplied by (y) the number of shares of common stock underlying the Supplemental Option.
The Supplemental Option will be immediately exercisable at a per share price equal to Fair Market Value (determined in accordance with the terms of the Applicable Plan) of a shares of the Company’s common stock as of the Grant Date.
The Initial Option and any Supplemental Option (each, an “Option”) shall each have an exercise price per share of Common Stock equal to the fair market value per share of Common Stock on the date of grant of such Option, pursuant to the terms and conditions of the Stock Option Plan of the Parent and a non-qualified stock option agreement substantially in the form attached hereto as Exhibit B.
The person(s) or entity designated in the Supplemental Option as the owner.
Supplemental Option 1 will have an exercise price of $400 per Share, Supplemental Option 2 will have an exercise price of $800 per Share, and Supplemental Option 3 will have an exercise price of $1,200 per Share.
The exercise price for the Initial Option Grant and the Supplemental Option Grant shall be equal to the fair market value per share of the common stock on the date of such grants, as determined by the Board.
In addition to the Annual Bonus described ------------------ above, for fiscal years 1999, 2000 and 2001, Employee will be entitled to a supplemental bonus ("Supplemental Bonus") of $150,000 per year if 110 percent of the Target Rate specified in the Supplemental Option for those fiscal years is reached or exceeded; provided that the EBITDA of ExecuStay grows at a cumulative annual rate (but not compounded) of at least 35 percent beginning with the 1999 fiscal year.
Notwithstanding any option agreements between you and the Holding Company dated before the date hereof, the Supplemental Option and all stock options held by you before the date hereof to purchase Common Stock of the Holding Company will be vested immediately.
The exercise price of the Supplemental Option will be the average of the high and low trading prices of Marriott Common Stock on the New York Stock Exchange on the date on which the Supplemental Option is granted.
A supplemental option to acquire ------------------------- Marriott Common Stock under the Stock Plan will be issued to Employee on the first business day following the Merger on which Marriott Common Stock is publicly traded on the New York Stock Exchange, substantially in the form attached hereto as Exhibit A (the "Supplemental Option").