Director Option definition

Director Option means an Option granted pursuant to Section 6.

Director Option means a Nonstatutory Stock Option granted to each Eligible Director pursuant to Section 6.7 without any action by the Board or the Committee.

Director Option means a right to purchase shares of Common Stock granted to a Non-Employee Director pursuant to Section 7 hereof.

Examples of Director Option in a sentence

• As of September 30, 2008, the 1992 Stock Plan, 1996 Stock Plan, 1996 Director Option Plan and 1999 Nonstatutory Stock Option Plan were expired or cancelled, but there are still options outstanding under these plans, which generally vest over four years.

• Each Non-Employee Director may elect (an “Option Election”) to have all or any portion of his or her annual retainer fee (as in effect from time to time) be paid as an Award of a Director Option.

• The Grant Date for each such Director Option shall be the date the annual retainer fee or portion thereof would otherwise have been paid in cash.

• The Option Term of each Director Option shall expire on the earlier of (i) an anniversary of the Grant Date determined by the Board and uniformly applied to all Director Options granted on a single Grant Date, not later than the tenth anniversary of the Grant Date, or (ii) five years, or such shorter period as the Board may determine, after the date the Grantee ceases to serve as a Non-Employee Director.

• The Option Price for each Director Option shall be 100 percent of the Fair Market Value of a Share on the GrantDate.

More Definitions of Director Option

Director Option means an Option granted to a Nonemployee Director pursuant to Section 5.

Director Option means a Non-Qualified Stock Option granted to each Eligible Director pursuant to Section 6(e) without any action by the Board or the Committee.

Director Option means a nonqualified stock option granted to a Director under the terms of this Plan.

Director Option means the right to purchase a share of Common Stock upon exercise of an option granted pursuant to Paragraph 11.

Director Option means a Nonqualified Stock Option granted to a Nonemployee Director pursuant to paragraph 9 hereof.

Director Option means an option granted to a Non-Employee Director in accordance with Section 9.2.

Director Option means an Option granted to a Non-Employee Director pursuant to this Section 10.