Outstanding Option Clause Samples
The Outstanding Option clause defines the rights and obligations related to options that have been granted but not yet exercised or expired. Typically, this clause outlines the conditions under which these options remain valid, such as vesting schedules, expiration dates, or the impact of certain events like termination of employment. Its core practical function is to provide clarity and certainty for both the option holder and the issuer regarding the status and treatment of outstanding options, thereby reducing potential disputes or misunderstandings.
Outstanding Option. The option granted to the Optionee under this Agreement shall not be affected by any option previously granted to him to purchase Shares of the Company, if any.
Outstanding Option. “Outstanding Option” has the meaning set forth in Section 1.9(a)(i).
Outstanding Option. Each Purchaser hereby acknowledges and consents to the right of the existing holders of the outstanding Series A Preferred Stock and Series B Preferred Stock to exercise their option to purchase up to 800,000 shares of Preferred Stock (collectively, the “Option Shares”) at the liquidation preference of $25.00 per share for an aggregate purchase price of up to $20,000,000 and be issued warrants corresponding to the number of exercised Option Shares of each series of Preferred Stock.
Outstanding Option. The stock option described in Section 3.3(b) of the Disclosure Schedule shall have been (i) cancelled or (ii) exercised in full concurrent with or immediately prior to the Closing and the shares issuable pursuant to the exercise of the option shall have been acquired by the Buyer as contemplated in Section 3.3(b) of the Disclosure Schedule.
Outstanding Option. An Option that has been formally granted by a corporation and is not cancelled exercised or expired.
Outstanding Option. The Option granted to Employee under this Agreement may be exercised notwithstanding the existence of any option previously or subsequently granted to him to purchase shares of Common Stock of the Corporation at a price (determined as of this date) higher than the option price under the option herein granted to Employee.
Outstanding Option. The Buyer shall have received evidence in form and substance reasonably satisfactory to the Buyer that the option to purchase 1.5% of the limited liability company interests of the Company held by Jan ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ has been canceled.