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.

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 shares of Common Stock upon exercise of a Non-Qualified Option or an Incentive Stock Option granted pursuant to Section 4 of this Plan.

Examples of Option Right in a sentence

• Furthermore, no Option Right or Appreciation Right shall be, without further approval of the stockholders of the Company, (i) cancelled and replaced with awards having a lower Option Price or Base Price, or (ii) cancelled in exchange for cash if the per share Option Price or per share Base Price exceeds the Market Value per Share on the date of such cancellation.

• Neither the Board nor the Committee shall, without the further approval of the stockholders of the Company, authorize the amendment of any outstanding Option Right or Appreciation Right to reduce the Option Price or Base Price.

• 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 shall be null and void with respect to such Option Right.

• The exercise of an Option Right shall result in the cancellation on a share-for-share basis of any Tandem Appreciation Right authorized under Section 5 of this Plan.

• Each grant of an Appreciation Right shall be evidenced by an Evidence of Award, which shall describe such Appreciation Right, identify any related Option Right, state that such Appreciation Right is subject to all the terms and conditions of this Plan, and contain such other terms and provisions, consistent with this Plan and applicable sections of the Code, as the Committee may approve.

More Definitions of Option Right

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 Common Shares from the Company upon the exercise of a nonqualified stock option granted pursuant to Section 4 of this Plan.

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

Option Right means the right to purchase Common Shares upon exercise of an Option granted pursuant to Section 5 or Section 10 of this Plan.

Option Right means the right to purchase shares of Common Stock from the Corporation upon the exercise of a Nonqualified Option or a Tax-Qualified Option granted pursuant to Section 4 of this Plan.

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 any option, warrant or other right to acquire, convert into, or exchange or exercise for, or any similar interests in, shares of Stock.