Option Right definition

Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.

Examples of Option Right in a sentence

  • Except with respect to Section 22(e), to the extent that any provision of this Plan would prevent any Option Right that was intended to qualify as an Incentive Stock Option from qualifying as such, that provision will be null and void with respect to such Option Right.

  • In addition, for each Option Right or Appreciation Right with an Option Price or Base Price, respectively, greater than the consideration offered in connection with any such transaction or event or Change in Control, the Committee may in its discretion elect to cancel such Option Right or Appreciation Right without any payment to the person holding such Option Right or Appreciation Right.

  • No Option Right will be exercisable more than 10 years from the Date of Grant; provided, that, in the case of Incentive Stock Options granted to 10% Shareholders, no such Option Right shall be exercisable more than 5 years from the Date of Grant.


More Definitions of Option Right

Option Right has the meaning specified in the definition ofChange of Control”.
Option Right means the right to purchase a share of Common Stock upon exercise of an option granted pursuant to Paragraph 4.
Option Right means the right to purchase a share of Common Stock upon exercise of an outstanding Incentive Stock Option or Nonqualified Stock Option.
Option Right means the right to purchase Common Shares from the Corporation upon the exercise of a Nonqualified Option or a Tax-Qualified Option granted pursuant to Section 4, or a Replacement Option Right granted pursuant to Section 17(c), of this Plan.
Option Right means the right to purchase Common Shares from the Company upon the exercise of an option granted pursuant to Section 3 of this Plan.