EMI Option definition

EMI Option means a qualifying EMI option which meets the requirements of Schedule 5 of ITEPA.

EMI Option means an option granted under this UK Sub-Plan which is a qualifying option for the purposes of the EMI Code as defined in section 527(4) of ITEPA;

EMI Option means an enterprise management incentive option which is a qualifying option for the purposes of Schedule 5.

Examples of EMI Option in a sentence

• Neither the Board, the Company nor any other person shall be liable to the Option Holder for any loss of whatsoever nature resulting from the failure for any reason of an Option granted as an EMI Option to meet the conditions of Schedule 5 to ITEPA 2003, whether such failure results from the inadvertent or deliberate act of the Board, the Company or any other person or for any other reason whatsoever.

• In the case of an EMI Option, within 30 days after the Date of Grant, the Option Holder shall correctly complete, sign and date the relevant EMI Notice and return it to the Option Holder’s Employer.

• No warranty, representation or undertaking of any nature is given to the holder of an EMI Option that the EMI Option is a qualifying option for the purposes of ITEPA 2003 or that a disqualifying event will not occur in relation to an EMI Option.

• If an Option Holder granted an EMI Option does not correctly complete, sign and date the relevant EMI Notice and return it to the Option Holder’s Employer within 60 days after the Date of Grant the relevant Option shall automatically lapse at the end of that period.

• A Grantor may only grant EMI Options whilst the requirements of Schedule 5 to ITEPA 2003 are met and if any of the requirements are not met, the Option shall continue to subsist but not as an EMI Option.

More Definitions of EMI Option

EMI Option means an option granted under Schedule 5 (enterprise management incentives) to ITEPA 2003 held by employees of any Acquired Companies to acquire any shares in the capital of the Company.

EMI Option means an Option which is a qualifying option to acquire shares for the purposes of Chapter 9 of Part 7 of the 2003 Act;

EMI Option means an Option granted in accordance with the provisions of Rule 9;

EMI Option means an option granted under Schedule 5 (enterprise management incentives) to ITEPA held by Employees to acquire any shares in the capital of the Company.

EMI Option means an Option which is intended to be a qualifying enterprise management incentive option pursuant to Schedule 5.

EMI Option a Pre-IPO King Option granted under Schedule 5 Income Tax (Earnings and Xxxxxxxx) Xxx 0000 (Enterprise Management Incentive) of the United Kingdom;

EMI Option means an Option which is a qualifying option to acquire shares for the purposes of Schedule 14;