Option Scheme Clause Samples
An Option Scheme clause establishes the framework under which a company can grant options to employees, directors, or other stakeholders to acquire shares in the company at a future date, typically at a predetermined price. This clause outlines eligibility criteria, the number of options available, vesting schedules, and the process for exercising options. By providing a structured method for offering equity incentives, the clause helps align the interests of key individuals with the long-term success of the company and serves as a tool for talent retention and motivation.
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Option Scheme. The Company will propose a scheme of arrangement under which all of the Options are cancelled and Scheme Optionholders will be entitled to receive the Option Scheme Consideration.
Option Scheme conditional
Option Scheme. (a) Xplore must, as soon as reasonably practicable after the date of this agreement and substantially in compliance with the Timetable, propose a creditors' scheme of arrangement, to be conducted concurrently with the Share Scheme under which all outstanding Scheme Options will be cancelled and each Scheme Optionholder will be entitled to receive the Option Scheme Consideration.
(b) Xplore must not consent to any modification of, or amendment to, or the making or imposition by the Court of any condition in respect of, the Option Scheme without the prior written consent of HUB24.
Option Scheme. (a) Target must propose the Option Scheme under which all outstanding Target Options will be transferred to Bidder and each Scheme Optionholder will be entitled to receive the Option Scheme Consideration.
(b) Bidder will execute the Option Scheme Deed Poll in which it undertakes in favour of each Scheme Optionholder that it will, subject to the Scheme and the Option Scheme becoming Effective, pay the Option Scheme Consideration. 4 Transaction steps
(c) The Option Scheme will be conditional on the following (without limitation), unless the parties otherwise agree in writing:
(1) the ASX granting a waiver from rule 6.23 of the Listing Rules in relation to the Option Scheme or Target Shareholders giving any necessary approvals under rule 6.23 of the Listing Rules in relation to the Option Scheme; and
(2) the Scheme becoming Effective.
(d) The Option Scheme must be proposed, conducted and implemented by Target concurrently with the Scheme.
Option Scheme. That an option scheme of 10% of the fully diluted share capital shall be put in place as soon as possible to incentivise existing and new management.
Option Scheme. (a) The Option Scheme will be conditional on:
(i) the ASX granting a waiver from Listing Rule 6.23 in relation to the Option Scheme or PacMag Shareholders giving any necessary approvals under Listing Rule 6.23; and
(ii) the Share Scheme becoming Effective. These conditions cannot be waived.
(b) As soon as practicable after the Execution Date, PacMag must use its reasonable endeavours to procure that ASX grants a waiver from Listing Rule 6.23 in respect of the Option Scheme.
(c) If the waiver referred to in clause 3.5(b):
(i) is obtained on or before the draft Scheme Booklet is given to ASIC but is subject to one or more conditions that are not satisfactory to Entrée; or
(ii) is not obtained on or before the draft Scheme Booklet is given to ASIC, PacMag agrees to seek any approvals that are required from the PacMag Shareholders under Listing Rule 6.23 in relation to the Option Scheme on the same date on which the Option Scheme Meeting is held.
Option Scheme. SMX must propose the Option Scheme, as a creditors’ scheme of arrangement, to be conducted concurrently with the Scheme under which:
(a) all of the Scheme Options will be deemed to have been exercised on the basis of a Cashless Exercise without any further act by any Option Scheme Participant (other than acts performed as attorney and agent for Option Scheme Participants under the Option Scheme); and
(b) all of the SMX Shares issued to each Option Scheme Participant as Option Exercise Shares will be cancelled in accordance with the Capital Reduction Resolution without any further act by any Option Scheme Participant (other than acts performed as agent of attorney for Option Scheme Participants under the Option Scheme).
Option Scheme. ATL must propose a scheme of arrangement under which:
(a) all of the ATL Options held by Option Scheme Participants at the Record Date will be cancelled; and
(b) each Option Scheme Participant will be entitled to receive the Option Scheme Consideration.
Option Scheme. Consideration
Option Scheme. Jupiters must propose a scheme of arrangement under Part 5.1 of the Corporations Act between it and the Jupiters Optionholders in the form set out in annexure C or such other form as the parties agree in writing, under which, subject to the Scheme becoming Effective, all of the Scheme Options