Terms and Conditions of Options. The Options evidenced hereby are subject to the following terms and conditions:
Terms and Conditions of Options. The Options evidenced by this Agreement are subject to the following terms and conditions:
Terms and Conditions of Options. Options granted under the Plan shall include expressly or by reference the following terms and conditions, as well as such other terms and conditions as the Committee shall deem desirable:
Terms and Conditions of Options. Each Option granted pursuant to the Plan shall be evidenced by a written agreement between the Company and the Grantee or a written notice delivered by the Company and accepted by the Grantee (the “Option Agreement”), in such form and containing such terms and conditions as the Committee shall from time to time approve, which Option Agreement shall comply with and be subject to the following terms and conditions, unless otherwise specifically provided in such Option Agreement or the terms referred to in Sections 9 and 10 below. For purposes of interpreting this Section 6, a director's service as a member of the Board or the services of an officer, as the case may be, shall be deemed to be employment with the Company or its Subsidiary or Affiliate.
Terms and Conditions of Options. Options granted under the Plan shall be non‑qualified options for federal income tax purposes, and shall be subject to the foregoing and the following terms and conditions and to such other terms and conditions, not inconsistent therewith, as the Administrator shall determine:
Terms and Conditions of Options. Each Option granted pursuant to the Plan shall be evidenced by a written agreement between the Company and the Grantee or a written notice delivered by the Company and accepted by the Grantee (the “Option Agreement”), in such form and containing such terms and conditions as the Committee shall from time to time approve, which Option Agreement shall comply with and be subject to the following terms and conditions, unless otherwise specifically provided in such Option Agreement or the terms referred to in Sections 9 and 10 below.
Terms and Conditions of Options. Each Option shall be set forth in an Option Agreement duly executed by the Company and, to the extent required by law or requested by the Company, by the Participant. The Administrator may provide that Options be granted subject to such terms and conditions, consistent with the terms and conditions specifically required under this Plan, as the Administrator may deem appropriate including, without limitation, subsequent approval by the shareholders of the Company of this Plan or any amendments thereto. The Option Agreements shall be subject to at least the following terms and conditions:
Terms and Conditions of Options. Options shall be evidenced by Option Agreements specifying the number of shares of Stock covered thereby, in such form as the Board shall from time to time establish. No Option or purported Option shall be a valid and binding obligation of the Company unless evidenced by a fully executed Option Agreement. Option Agreements may incorporate all or any of the terms of the Plan by reference and shall comply with and be subject to the following terms and conditions:
Terms and Conditions of Options. Whenever the Committee shall designate an Optionee, it shall communicate to the Secretary of the Company the name of the Optionee, the number of shares to be Optioned and such other terms and conditions as it shall determine, not inconsistent with the provisions of this Plan. The President or other officer of the Company shall then enter into an Option Agreement with the Optionee, complying with and subject to the following terms and conditions and setting forth such other terms and conditions of the Option as determined by the Committee:
(a) Number of shares and option price. The Option Agreement shall state the total number of shares to which it pertains. The price of Incentive Stock Option Stock shall be not less than one hundred percent (100%) of the Fair Market Value of the Option Stock at the Option Date. In the event an Incentive Stock Option is granted to an employee, who, at the Option Date, owns more than ten percent (10%) of the voting power of all classes of the Company's stock then outstanding, the price of the shares of Option Stock which will be covered by such Option shall be not less than one hundred ten percent (110%) of the Fair Market Value of the Option Stock at the Option Date. Non-Qualified Options may be granted at a price equal to, greater than or less than Fair Market Value at the date of grant. The Option price shall be subject to adjustment as provided in Section 7 hereof.
(b) Period of options and right to exercise. Options granted under this Plan shall be subject to such terms and conditions, shall be exercisable at such times and shall be evidenced by such form of written Option Agreement as the Committee shall determine, provided that such determinations are not inconsistent with Code Section 422 and the regulations thereunder. The Option Agreement may, at the discretion of the Committee, provide for the acceleration of vesting of Options upon a "Change in Control" of the Company, as defined in Section 6(h) below. In addition, no Option granted, shall by its terms, be exercisable after the expiration of ten (10) years from the date such Option is granted. Except, however, Incentive Stock Options granted to any employee who at the Option Date owns more than ten percent (10%) of the voting power of all shares of the classes of Company's stock then outstanding, may not be exercisable after expiration of five (5) years from the Option Date. The period during which the Option may be exercised, once it is granted, shall not be red...
Terms and Conditions of Options. The Committee shall have the power, subject to the limitations contained in this Plan, to prescribe any terms and conditions in respect of the granting or exercise of any option under this Plan and, in particular, shall prescribe the following terms and conditions:
a. Each option shall state the number of shares to which it pertains.
b. Each option shall be granted within ten (10) years of the date the Bio-Vascular Option Plan was adopted by the Board of Directors of Bio- Vascular.
c. The Committee, in its sole discretion, except with respect to employees that own directly or indirectly more than 10% of the total combined voting power or value of the stock of the Company or any of its subsidiaries, in which case the option price shall be at least 110% of the market value of the common stock on the date of grant, shall determine the price at which shares shall be sold to participants hereunder, provided that such price shall be payable at the time the shares are sold hereunder in cash or in equivalent value (determined as of the date tendered) in an amount equal to 100% of the fair market value of the common stock on the date of grant. If the Company common stock is listed on a national exchange or quoted in the National Market System, fair market value shall be equal to the closing price for the Company common stock as reported by the Wall Street Journal (or other accurate reporter of market activity) for the business day preceding the day on which the option was issued. If the Company common stock is reported in the National Association of Securities Dealers Automated Quotation System, fair market value shall be the average of the bid and asked prices for the business day preceding the day on which the option was issued. Except as specifically provided herein, determination of the price at which shares shall be sold to participants shall be determined by the Committee with reliance upon such appraisal(s) or other data as the Committee may deem appropriate. Payment for shares upon exercise of any option under this Plan with previously acquired shares of the Company shall be subject to all applicable rules of the federal or state agencies having appropriate jurisdiction, if any, and such shares shall be valued at fair market value as of the date of exercise of the option.
d. If so designated by the Committee, options granted pursuant to this Plan are intended to qualify for long-term capital gains tax treatment under the provisions of Section 422 of the Int...
