Options Covered Sample Clauses
Options Covered a. This Agreement is an agreement referred to in paragraph 6 of the Plan. For each of the Company’s stock option grants to the Optionee pursuant to the Plan (each an “Option Grant”), this Agreement, the Plan, and each document given to the Optionee reflecting the amount, exercisability, and other terms of the Option Grant (“Grant Document”) govern. Each Grant Document is incorporated by reference into, and made a part of, this Agreement. In this Agreement the words (i) “Common Stock” mean the Company’s Common Stock, par value $.10 per share, (ii) “Option” and “Options” mean the right and option to purchase all or any part of the number of shares of Common Stock subject to an Option Grant, (iii) “exercise of the Options” and similar words used in this Agreement mean the purchase of shares of Common Stock subject to an Option Grant in accordance with this Agreement, (iv) “Exercise Price” mean the price the Optionee must pay to the Company to exercise an option as specified by the Company in a Grant Document. The Optionee is not required to exercise the Options. The Options are not “incentive stock options” as those terms are used in Section 422 of the Internal Revenue Code of 1986.
Options Covered. The parties acknowledge that the Options now held by Nowe▇▇ ▇▇▇sist of (i) options to purchase 33,660 shares of Common Stock, which options were granted under the terms of the UTI 1993 Non-Qualified Stock Option Plan (the "Plan") and subject to a stock option agreement by and between UTI and Nowe▇▇ ▇▇▇ed December 14, 1993 (the "Option Agreement") and (ii) new options to purchase 15,000 shares of Common Stock (the "New Options") granted on the Effective Date (as defined in the Termination Agreement and Release), and that all of the above described options were fully vested on the Effective Date.
Options Covered a. For any Stock Option granted to the Optionee pursuant to Section 6 of the Plan (each an “Option Grant”), this Agreement, the Plan, and each Grant Document (defined below) will govern. Each Option Grant will be evidenced by a document (“Grant Document”) given to the Optionee that will set forth the amount, Exercise Price (as defined below), exercisability (vesting schedule), and other terms of the Option Grant. In this Agreement the words (i) “exercise of the Options” and similar words used in this Agreement mean the purchase of shares of Common Stock subject to an Option Grant in accordance with this Agreement, (ii) “Exercise Price” means the price per share of Common Stock that the Optionee must pay to the Company to exercise an option as specified by the Company in a Grant Document. The Optionee is not required to exercise a Stock Option. The Stock Options granted under this Agreement shall not be Incentive Stock Options.
Options Covered a. This Agreement is the agreement referred to in paragraph 6 of the Plan. For each of the Company’s stock option grants to the Optionee pursuant to the Plan (each an “Option Grant”), this Agreement, the Plan, and each document given to the Optionee reflecting the amount, exercisability, and other terms of the Option Grant (“Grant Document”) govern. In this Agreement the words (i) “Common Stock” mean the Company’s Common Stock, par value $.10 per share, (ii) “Option” and “Options” mean the right and option to purchase all or any part of the number of shares of Common Stock subject to an Option Grant, (iii) “exercise of the Options” and similar words used in this Agreement mean the purchase of shares of Common Stock subject to an Option Grant in accordance with this Agreement, (iv) “Exercise Price” mean the price the Optionee must pay to the Company to exercise an option as specified by the Company in a Grant Document. The Optionee is not required to exercise the Options. The Options are not “incentive stock options” as those terms are used in Section 422 of the Internal Revenue Code of 1986.