102 Option definition

102 Option means any Option granted to Employees pursuant to Section 102 of the Ordinance.

102 Option means an Award (other than a SAR, a RSU or any other Award settled in cash) granted under Section 102.

102 Option means any Option granted to Employees in accordance with and subject to Section 102 of the Ordinance.

Examples of 102 Option in a sentence

• The Election shall obligate the Company to grant only the type of Approved 102 Option it has elected, and shall apply to all Optionees who were granted Approved 102 Options during the period indicated herein, all in accordance with the provisions of Section 102(g) of the Ordinance.

• Approved 102 Option elected and designated by the Company to qualify under the capital gain tax treatment in accordance with the provisions of Section 102(b)(2) shall be referred to herein as CGO.

• Approved 102 Option elected and designated by the Company to qualify under the ordinary income tax treatment in accordance with the provisions of Section 102(b)(1) shall be referred to herein as OIO.

• With respect to any Approved 102 Option, subject to the provisions of Section 102 and any rules or regulation or orders or procedures promulgated thereunder, an Optionee shall not sell or release from trust any Share received upon the exercise of an Approved 102 Option and/or any share received subsequently following any realization of rights, including without limitation, bonus shares, until the lapse of the Holding Period required under Section 102 of the Ordinance.

• With respect to Unapproved 102 Option, if the Optionee ceases to be employed by the Company or any Affiliate, the Optionee shall extend to the Company and/or its Affiliate a security or guarantee for the payment of tax due at the time of sale of Shares, all in accordance with the provisions of Section 102 and the rules, regulation or orders promulgated thereunder.

More Definitions of 102 Option

102 Option means an Option granted under the rules of Section 102 of the Ordinance, as amended, or any law or regulations, which shall replace Section 102.

102 Option means Award granted under Section 102.

102 Option means an Option intended to qualify under Section 102 of the Ordinance.

102 Option. - means an Option that the Board intends to be a “102 Option” which shall only be granted to Employees, and shall be subject to and construed consistently with the requirements of Section 102 of the Ordinance. Approved 102 Options may either be classified as Capital Gains Track Options (CGTO) or Ordinary Income Track Options (OITO). 102 Options may either be granted to a Trustee or without a Trustee.

102 Option means any Option granted pursuant to Section 102.

102 Option means any Option granted pursuant to Section 102 of the Ordinance to any person who is an Employee.

102 Option. – means an Option that the Board intends to be a "102 Option" which shall only be granted to employees resident in the State of Israel who are not Ten Percent Members, and shall be subject to and construed consistently with the requirements of Section 102 of the Tax Ordinance. The Company shall have no liability to an Optionee, or to any other party, if an Option (or any part thereof), which is intended to be a 102 Option, is not a 102 Option. Approved 102 Options may either be classified as Capital Gain Options ("CGO") or Ordinary Income Options ("OIO").