Legacy Option definition
Examples of Legacy Option in a sentence
As of the Distribution Date, the exercise price and, if appropriate, the number of shares subject to each DSPGI Legacy Option shall be adjusted to reflect the reduction in value of DSPGI Common Stock as a result of the Distribution.
The determination of the exercise price and the number of shares subject to each DSPGI Legacy Option shall be made by DSPGI as advised by its professional advisors.
Except as set out above, all other terms and conditions of such Replacement Option, including the conditions to and manner of exercising, will be the same as the Nomad Option so exchanged, and shall be governed by the terms of the Nomad Option Plan or Nomad Legacy Option Plan, as applicable, and any document evidencing a Nomad Option shall thereafter evidence and be deemed to evidence such Replacement Option.
On the Effective Date, by reason of the Exchange, each Bank Legacy Option shall be converted to an option to acquire one (1) share of Company Common Stock (a “Company Legacy Option”), and all of the unexercised and outstanding Bank Legacy Options shall thereupon be cancelled.
The Company shall adopt a Legacy Option Assumption Plan, which plan shall set forth the material terms and conditions applicable to the Company Legacy Options, provided that such terms and conditions shall, except as provided herein, be substantially identical to those presently applicable to the Bank Legacy Options, and the Company shall issue to each holder thereof a Legacy Option Agreement containing such terms and conditions as the Company deems necessary or advisable.