Option Exercise Extension Period definition

Option Exercise Extension Period means (i) in the case of a Covered Termination that is not a Change in Control Termination, (A) 24 months for a Participant who is the Company’s chief executive officer and (B) 15 months for a Participant who is the Company’s chief operating officer or chief financial officer; and (ii) in the case of a Change in Control Termination, (1) 24 months for a Participant who is the Company’s chief executive officer, (2) 15 months for a Participant who is the Company’s chief operating officer or chief financial officer, and (3) 12 months for all other Participants.

Examples of Option Exercise Extension Period in a sentence

  • In the event of a Participant’s reemployment by the Company during the Cash Severance Benefits Period, Health Severance Benefits Period, Option Exercise Extension Period or vesting period covered by the Option Acceleration Benefit or RSU Acceleration Benefit, the Plan Administrator, in its sole and absolute discretion, may require such Participant to forego, repay to the Company or relinquish the right to retain all or a portion of such severance benefits as a condition of reemployment.

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