Approved 102 Option definition

Approved 102 Option means an Option granted pursuant to Section 102(b) of the Ordinance and held in trust by a Trustee for the benefit of the Optionee.

Approved 102 Option. - means an Option granted pursuant to Section 102(b) of the Ordinance, including any and all rules and regulations promulgated thereunder, as now in effect or as hereafter amended, and held in trust by a Trustee for the benefit of the Optionee, pursuant to Section 102.

Approved 102 Option means an Option granted pursuant to Section 102(b) of the Ordinance and held in trust by a Trustee in accordance with the provisions of the Ordinance.

Examples of Approved 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.

• Upon receipt of Approved 102 Option, the Optionee will sign an undertaking to release the Trustee from any liability in respect of any action or decision duly taken and bona fide executed in relation with the ISOP, or any Approved 102 Option or Share granted to him thereunder.

More Definitions of Approved 102 Option

Approved 102 Option means an Option granted pursuant to Section 102(b) of the Israeli Tax Ordinance and held in trust by a Trustee for the benefit of the Grantee.

Approved 102 Option means an Option granted pursuant to Section 102(b) of the Ordinance and held in trust by a Trustee (as defined in Section 7) for the benefit of Grantee.

Approved 102 Option means an Option granted to an Israeli Beneficiary pursuant to Section 102(b) of the Ordinance (as such term is defined in Clause 2.13 below) the registration thereof being maintained by the Escrow Agent (as such term is defined in Clause 2.17 below), which may be classified as either a “Capital Gains Option” or a “Ordinary Income Option” (as such terms are respectively defined in Clauses 2.2 and 2.9 below).

Approved 102 Option means a 102 Option granted pursuant to Section 102(b) of the Ordinance and held in trust by a Trustee.

Approved 102 Option. - means an Option granted pursuant to Section 102(b) of the Ordinance, including any and all rules and regulations

Approved 102 Option means an Option granted pursuant to Section 102(b) of the Ordinance and held in trust by the Escrow Agent for the benefit of the Grantee.

Approved 102 Option. – means a Share or an Option issued and/or granted pursuant to Section 102(b) of the Ordinance, including any and all rules and regulations promulgated thereunder, as now in effect or as hereafter amended, and held in trust by a Trustee for the benefit of the Optionee, pursuant to Section 102. Approved 102 Options may either be classified as Capital Gains Track Options (CGTO) or Ordinary Income Track Options (OITO).