Examples of Underwater Options in a sentence
You agree and consent to the acceleration of your Underwater Options and the treatment of any incentive stock options exceeding the annual $100,000 threshold as non-qualified stock options.
As of February 26, 1999, the weighted average exercise price of the Underwater Options and the Options (other than the Underwater Options) was approximately $31.79 and $16.55, respectively.
The Company shall have obtained (i) from each UK Optionholder a consent in writing in form reasonably acceptable to Parent and the Major Stockholders to the matters contemplated by Section 2.6(b) and (ii) from each holder of Underwater Options the consent referred to in Section 6.6(b) in form reasonably acceptable to Parent and the Major Stockholders.
Therefore, if you were to exercise any of your Underwater Option(s) you would make a loss.
The Beneficiary hereby irrevocably accepts to be bound by the terms and conditions of the Underwater Stock Options Liquidity Agreement appended hereto (Appendix 3) with respect to the Underwater Options.
You hereby acknowledge and agree that all of your Covered Options will be cancelled as of the Effective Time pursuant to your election hereunder, including, without limitation, those Covered Options under which the exercise price exceeds the Merger Consideration (the "UNDERWATER OPTIONS") and that you will not be entitled to any payment or other consideration in respect of such Underwater Options.
Xxxxxxxxx is advised by Company to seek independent legal advice with respect to tax issues regarding the Underwater Options.
If you wish to exchange a grant of Underwater Options that you have previously elected NOT to exchange, you must submit a new Option Election Agreement to your local representative before the expiration date by following the procedures described in the Offer Documents.
Any confirmation of receipt will merely be a notification that we have received your Option Election Agreement and does not mean that your Underwater Options have been cancelled or Replacement Options granted.
In other words, the maximum Replacement Options available to be issued shall equal 75% of the total Underwater Options eligible for the Exchange and the remaining Underwater Options tendered will be forfeited.