Lapsed Option definition

Lapsed Option means any stock option issued by the Corporation pursuant to a Stock Compensation Plan, which after the date hereof, lapses or terminates without being converted or exercised.
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Lapsed Option means (i) the unvested options; or (ii) options which are vested but not exercised by the Grantee
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Lapsed Option is defined in Section 4.10(b).
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Examples of Lapsed Option in a sentence

  • Cadence and IMS agree that the in-the-money-value for a given share of Cadence stock represented by a Lapsed Option (an "Option Share") shall be calculated at, and fixed as, the value represented by the difference (if positive) obtained by subtracting the option exercise price from the average of the daily closing trade price for Cadence stock for the twenty business days next preceeding the date on which Cadence's ownership dropped below the requisite threshold.

  • The Company and the administrator of the Company Option Plan shall cause the Company Option Plan to be duly terminated such that, (i) after the Effective Time, no further option grants may be made under the Company Option Plan; and (ii) the Company Option Plan and each Lapsed Option that is not exercisable prior to or that has not been exercised as of the Effective Time to be terminated effective as of the Effective Time.

Related to Lapsed Option

  • Vested Option means any Option, which has already been vested according to the Vesting Dates.

  • Unvested Option means an Option in respect of which the relevant Vesting Conditions have not been satisfied and as such, the Option Grantee has not become eligible to Exercise the Option.

  • Vested Options means the Options that have vested in accordance with Section 1.3 of this Agreement.

  • 3(i) Option means an Option granted pursuant to Section 3(i) of the Ordinance to any person who is Non- Employee.

  • Promised Options means promised but ungranted Options that are the greater of those (i) promised pursuant to agreements or understandings made prior to the execution of, or in connection with, the term sheet or letter of intent for the Equity Financing or Liquidity Event, as applicable (or the initial closing of the Equity Financing or consummation of the Liquidity Event, if there is no term sheet or letter of intent), (ii) in the case of an Equity Financing, treated as outstanding Options in the calculation of the Standard Preferred Stock’s price per share, or (iii) in the case of a Liquidity Event, treated as outstanding Options in the calculation of the distribution of the Proceeds.