When Options lapse Sample Clauses
When Options lapse. A Participant’s Option will lapse to the extent that it has not been exercised (whether or not it became exercisable) on the earliest of:
6.1.1 normal lapse time: the tenth anniversary of the Date of ▇▇▇▇▇;
When Options lapse. An Option will lapse to the extent that it has not been exercised (whether or not it became exercisable) on the earliest of:
5.1.1. normal lapse time: the tenth anniversary of the Date of ▇▇▇▇▇;
5.1.2. retirement, Redundancy, injury and disability, disposal of company/undertaking: the end of twenty four months from the date on which the Participant ceases to be in Employment because of any of the circumstances in Rule 4.1.2 (i), (ii), (iii) or (vi) occurring;
5.1.3. general offer, scheme of arrangement or voluntary winding-up of Company: without prejudice to the operation of Rule 10, the expiry of the respective period referred to in Rule 7.1, Rule 7.3, Rule 7.4 (subject to the proviso in Rule 7.4) or Rule 7.5;
5.1.4. cessation of Employment in other circumstances: the Option will lapse on the date the Participant’s Employment ceases, unless the Company exercises its discretion under Rule 4.2, in which case it will lapse when the Company specifies that it will, provided that all Options must lapse by the end of twenty four months from the date the Participant ceases Employment; or
When Options lapse. A Participant’s Option will lapse to the extent that it has not been exercised (whether or not it became exercisable) on the earliest of:
6.1.1 normal lapse time: the tenth anniversary of the Date of ▇▇▇▇▇;
6.1.2 cessation of Employment: his cessation of Employment, unless the Rules provide otherwise;
6.1.3 performance target not met: the date (and to the extent that) it is determined that the performance target applicable to an Option has not been met following the expiry of the relevant performance period;
6.1.4 general offers, schemes of arrangement or voluntary winding-up of Company: the expiry of the relevant period referred to in Rule 7.1, Rule 7.4, Rule 7.5, Rule 7.6, Rule 7.7, Rule 7.9 or Rule 7.11 unless those Rules provide otherwise;
6.1.5 disposals not permitted: the date of any purported transfer, assignment, charge or other disposal in breach of Rule 1.6; and
6.1.6 insolvency: the date on which the Participant enters into a composition with his creditors in satisfaction of his debts or a bankruptcy order is made against him.