Common use of Actions on exercise Clause in Contracts

Actions on exercise. On completion of the exercise of Options: (a) the Options will automatically lapse; (b) the Company will either, at the discretion of the Board, allot and issue, procure the transfer of, and/or allocate, the number of Plan Shares for which the Participant is entitled to be issued or acquire through the exercise of the Options; and (c) update the Options register to note any remaining Options which were not exercised by the Participant.

Actions on exercise. On completion of the exercise of Options: (a) the Options will automatically lapse; (b) the Company will either, at the discretion of the Board, allot and issue, procure the transfer of, and/or allocate, the number of Plan Shares for which the Participant is entitled to be issued subscribe for or acquire through the exercise of the Options; and (c) update the Options register to note issue a substitute Certificate(s) for any remaining Options which were not exercised by the ParticipantOptions.