{"component": "definition", "props": {"groups": [{"snippet": "means, with respect to an Option, the excess, if any, of the Fair Market Value of a share of Common Stock as of the applicable Valuation Date over the Exercise Price.", "samples": [{"hash": "bpEDIE1N0bx", "uri": "/contracts/bpEDIE1N0bx#option-spread", "label": "Merger Agreement (Brenneman Gregory D)", "score": 18.0, "published": true}, {"hash": "2cY9hepdwbg", "uri": "/contracts/2cY9hepdwbg#option-spread", "label": "Merger Agreement (Hawaiian Airlines Inc/Hi)", "score": 18.0, "published": true}, {"hash": "kAQEzlYAclQ", "uri": "http://investors.jcrew.com/static-files/146cb5d3-4abd-4c1d-8888-7b8f6194d3a2", "label": "investors.jcrew.com", "score": 14.6719055176, "published": false}], "size": 29, "snippet_links": [{"key": "with-respect-to-an", "type": "clause", "offset": [7, 25]}, {"key": "the-excess", "type": "clause", "offset": [34, 44]}, {"key": "fair-market-value-of-a-share", "type": "definition", "offset": [61, 89]}, {"key": "common-stock", "type": "definition", "offset": [93, 105]}, {"key": "valuation-date", "type": "definition", "offset": [127, 141]}, {"key": "the-exercise-price", "type": "definition", "offset": [147, 165]}], "hash": "a6618d7c83b36bed871d06978e63cd0d", "id": 1}, {"snippet": "applicable to an Option shall equal the product of the number of shares of Common Stock subject to such Option multiplied by the positive difference, if any, between the cash amount to be paid for each share of Common Stock in such merger or consolidation and the exercise price of such Option; and", "samples": [{"hash": "lI4gXd8pUay", "uri": "/contracts/lI4gXd8pUay#option-spread", "label": "Employment Agreement (Young Broadcasting Inc /De/)", "score": 21.0, "published": true}, {"hash": "fUshOUEaZWt", "uri": "/contracts/fUshOUEaZWt#option-spread", "label": "Employment Agreement (Young Broadcasting Inc /De/)", "score": 21.0, "published": true}, {"hash": "7JY33m2SpHG", "uri": "/contracts/7JY33m2SpHG#option-spread", "label": "Employment Agreement (Young Broadcasting Inc /De/)", "score": 21.0, "published": true}], "size": 5, "snippet_links": [{"key": "applicable-to", "type": "clause", "offset": [0, 13]}, {"key": "the-product", "type": "clause", "offset": [36, 47]}, {"key": "number-of-shares-of-common-stock", "type": "clause", "offset": [55, 87]}, {"key": "subject-to", "type": "definition", "offset": [88, 98]}, {"key": "amount-to-be-paid", "type": "clause", "offset": [175, 192]}, {"key": "merger-or-consolidation", "type": "clause", "offset": [232, 255]}, {"key": "the-exercise-price", "type": "definition", "offset": [260, 278]}], "hash": "b671a31f38abd9ae95ae24bdaac4bbc2", "id": 2}, {"snippet": "has the meaning assigned in Section 3.05(a).", "samples": [{"hash": "787fdLAXtxP", "uri": "/contracts/787fdLAXtxP#option-spread", "label": "Merger Agreement (Mid-State Bancshares)", "score": 21.0, "published": true}, {"hash": "8b3ZiEdbS9D", "uri": "/contracts/8b3ZiEdbS9D#option-spread", "label": "Merger Agreement (Vib Corp)", "score": 18.0, "published": true}], "size": 5, "snippet_links": [], "hash": "685bed4ab8da0691e369f9c7c48159ed", "id": 3}, {"snippet": "means (A) the sum of (x) $14.50 plus (y) the product of (i) the Exchange Ratio and (ii) the Average Closing Price minus (B) the exercise price per share payable immediately prior to the Effective Time pursuant to the applicable Company Option.", "samples": [{"hash": "lUvZy8tuEYu", "uri": "/contracts/lUvZy8tuEYu#option-spread", "label": "Merger Agreement (Protection One Inc)", "score": 18.0, "published": true}, {"hash": "eo87nM7H3cL", "uri": "/contracts/eo87nM7H3cL#option-spread", "label": "Agreement and Plan of Contribution and Merger (Protection One Acquistion Holding Corp)", "score": 18.0, "published": true}], "size": 4, "snippet_links": [{"key": "sum-of", "type": "clause", "offset": [14, 20]}, {"key": "the-product", "type": "clause", "offset": [41, 52]}, {"key": "the-exchange-ratio", "type": "clause", "offset": [60, 78]}, {"key": "average-closing-price", "type": "definition", "offset": [92, 113]}, {"key": "exercise-price-per-share", "type": "definition", "offset": [128, 152]}, {"key": "prior-to-the-effective-time", "type": "clause", "offset": [173, 200]}, {"key": "company-option", "type": "definition", "offset": [228, 242]}], "hash": "fc3e4765d1a860110afbe29b4d05182f", "id": 4}, {"snippet": "means, with respect to an Option, the excess if any, of the Fair Market Value of a Share as of the date of exercise of the Option over the Option Exercise Price (defined in Section 4.3).", "samples": [{"hash": "dA8qlEaYclY", "uri": "https://www.sec.gov/Archives/edgar/data/1060009/000119312509037197/dex1069.htm", "label": "Kindred Healthcare, Inc", "score": 3.0, "published": false}, {"hash": "eEbMdMRshBB", "uri": "https://www.sec.gov/Archives/edgar/data/1060009/000119312508230026/dex106.htm", "label": "Kindred Healthcare, Inc", "score": 3.0, "published": false}, {"hash": "e6fMJleTAR7", "uri": "https://www.sec.gov/Archives/edgar/data/1060009/000119312507177061/dex101.htm", "label": "Kindred Healthcare, Inc", "score": 3.0, "published": false}], "size": 3, "snippet_links": [{"key": "with-respect-to-an", "type": "clause", "offset": [7, 25]}, {"key": "the-excess", "type": "clause", "offset": [34, 44]}, {"key": "fair-market-value-of-a-share", "type": "definition", "offset": [60, 88]}, {"key": "exercise-of-the-option", "type": "clause", "offset": [107, 129]}, {"key": "option-exercise-price", "type": "definition", "offset": [139, 160]}, {"key": "section-43", "type": "clause", "offset": [173, 184]}], "hash": "235b12f33bdf678aaac9e76284b3d4a2", "id": 5}, {"snippet": "means, as of any date of determination, with respect to an Option, the excess, if any, of the Fair Market Value of a Share as of such date over the Exercise Price with respect to such Option.", "samples": [{"hash": "4zT4JtCoysi", "uri": "https://www.sec.gov/Archives/edgar/data/1321646/000119312509245668/dex1053.htm", "label": "Polymer Holdings LLC", "score": 3.0, "published": false}], "size": 3, "snippet_links": [{"key": "date-of-determination", "type": "clause", "offset": [17, 38]}, {"key": "with-respect-to-an", "type": "clause", "offset": [40, 58]}, {"key": "the-excess", "type": "clause", "offset": [67, 77]}, {"key": "fair-market-value-of-a-share", "type": "definition", "offset": [94, 122]}, {"key": "the-exercise-price", "type": "definition", "offset": [144, 162]}], "hash": "05ed4bd9ed7cbc63070633cc3bebd885", "id": 6}, {"snippet": "shall equal, for each Company Option, the product of (a) the excess, if any, of (i) the Per Share Merger Consideration over (ii) the exercise price per share of Company Common Stock subject to a Company Option, multiplied by (b) the number of shares of Company Common Shares subject to such Company Option.", "samples": [{"hash": "lPqI3inRdFD", "uri": "/contracts/lPqI3inRdFD#option-spread", "label": "Merger Agreement (Xos, Inc.)", "score": 32.6495552063, "published": true}, {"hash": "kbeihGPwfmZ", "uri": "/contracts/kbeihGPwfmZ#option-spread", "label": "Merger Agreement (NextGen Acquisition Corp)", "score": 32.1430511475, "published": true}], "size": 2, "snippet_links": [{"key": "company-option", "type": "definition", "offset": [22, 36]}, {"key": "the-product", "type": "clause", "offset": [38, 49]}, {"key": "the-excess", "type": "clause", "offset": [57, 67]}, {"key": "per-share-merger-consideration", "type": "definition", "offset": [88, 118]}, {"key": "exercise-price-per-share", "type": "definition", "offset": [133, 157]}, {"key": "company-common-stock", "type": "definition", "offset": [161, 181]}, {"key": "subject-to", "type": "definition", "offset": [182, 192]}, {"key": "company-common-shares", "type": "definition", "offset": [253, 274]}], "hash": "f0cdd28f7dccfdd197a9785ad3cf3a34", "id": 7}, {"snippet": "shall have the meaning set forth in Section 2.04(d) hereof.", "samples": [{"hash": "ckxxzrOVjdd", "uri": "/contracts/ckxxzrOVjdd#option-spread", "label": "Merger Agreement (First Midwest Bancorp Inc)", "score": 19.0, "published": true}, {"hash": "11bWfLMZGJT", "uri": "/contracts/11bWfLMZGJT#option-spread", "label": "Merger Agreement (Covest Bancshares Inc)", "score": 18.0, "published": true}], "size": 2, "snippet_links": [], "hash": "82a8e2f54ff28035d02ac9efbfc411eb", "id": 8}, {"snippet": "has the meaning as set forth in Section 3.6(a) of the Agreement.", "samples": [{"hash": "ehsokY2Qh8y", "uri": "/contracts/ehsokY2Qh8y#option-spread", "label": "Merger Agreement (SCBT Financial Corp)", "score": 21.0, "published": true}, {"hash": "6i87nJRykwF", "uri": "/contracts/6i87nJRykwF#option-spread", "label": "Merger Agreement (TSB Financial CORP)", "score": 21.0, "published": true}], "size": 2, "snippet_links": [{"key": "the-agreement", "type": "clause", "offset": [50, 63]}], "hash": "363f9deb673551a541a7f43f3814b300", "id": 9}, {"snippet": "means, in the case of an Exercisable Option, the product of (i) the number of shares of Common Stock subject thereto with respect to which such option is then exercisable and (ii) the excess of (x) the per share amount that would be payable by the Company to the holder of such option with respect to the exercise by the Company of the Company Call Option, assuming that immediately prior thereto the holder of such option had exercised such Exercisable Option, over (y) the per share Exercise Price of the Exercisable Options.", "samples": [{"hash": "ivzoK3Cxci5", "uri": "https://www.sec.gov/Archives/edgar/data/1317577/000095012305007052/g94448a1exv10w3.htm", "label": "Stock Option Plan (Pike Holdings, Inc.)", "score": 7.0, "published": false}, {"hash": "1fkIO0Sfdr9", "uri": "https://www.sec.gov/Archives/edgar/data/1317577/000095012305007052/g94448a1exv10w2.htm", "label": "Stock Option Plan (Pike Holdings, Inc.)", "score": 7.0, "published": false}], "size": 2, "snippet_links": [{"key": "in-the-case-of-an", "type": "clause", "offset": [7, 24]}, {"key": "the-product", "type": "clause", "offset": [45, 56]}, {"key": "number-of-shares-of-common-stock", "type": "clause", "offset": [68, 100]}, {"key": "with-respect-to", "type": "clause", "offset": [117, 132]}, {"key": "the-excess", "type": "clause", "offset": [180, 190]}, {"key": "per-share-amount", "type": "clause", "offset": [202, 218]}, {"key": "payable-by-the-company", "type": "clause", "offset": [233, 255]}, {"key": "the-holder", "type": "clause", "offset": [259, 269]}, {"key": "exercise-by-the-company", "type": "clause", "offset": [305, 328]}, {"key": "company-call-option", "type": "definition", "offset": [336, 355]}, {"key": "price-of-the", "type": "clause", "offset": [494, 506]}, {"key": "exercisable-options", "type": "definition", "offset": [507, 526]}], "hash": "f6cad6a2469dbd682dc5765e6eeff020", "id": 10}], "next_curs": "CloSVGoVc35sYXdpbnNpZGVyY29udHJhY3RzcjYLEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiIWb3B0aW9uLXNwcmVhZCMwMDAwMDAwYQyiAQJlbhgAIAA=", "definition": {"snippet": "means, with respect to an Option, the excess, if any, of the Fair Market Value of a share of Common Stock as of the applicable Valuation Date over the Exercise Price.", "size": 95, "title": "Option Spread", "id": "option-spread", "examples": ["The amount payable to you in these circumstances may be paid by the Company either in cash or in shares of Class A Common Stock having a Fair Market Value equal to the <strong>Option Spread</strong>, or a combination thereof, as the Company shall determine.", "Class A Common Stock used to pay the <strong>Option Spread</strong> pursuant to this Paragraph 3 will be valued at the Fair Market Value as of the day the Exercise Notice is received by the Company.", "Class A Common Stock used to pay the <strong>Option Spread</strong> pursuant to this Section 3 will be valued at the Fair Market Value as of the day the Exercise Notice is received by the Company.", "The <strong>Option Spread</strong>, after reduction for applicable tax withholding, if any, shall be paid in cash.", "In the event the Company terminates the Employee&#x27;s services as a consultant hereunder prior to the expiration of the Consulting Period, the Employee shall be entitled to receive payment from the Company of liquidated damages in an amount equal to the aggregate Adjusted <strong>Option Spread</strong> (as hereinafter defined), it being agreed that the Employee&#x27;s damages might be impossible to ascertain and that such amount constitutes a fair and reasonable amount of damages under the circumstances and is not a penalty.", "At the Closing, cash will be paid to Executives and other members of the management team (net of applicable taxes) equal to the sum of $24 for each share of vested restricted stock that he owns and the <strong>Option Spread</strong> (as defined below) for each share subject to a vested option that he owns and that in each case is not exchanged in order to reach the Rollover Amount.", "As soon as practicable following the Closing, the Company will provide each member of the management team a substitute option with an equivalent value equal to the amount of <strong>Option Spread</strong> that he will be contributing to the recapitalized Company (the \u201cSubstitute Option\u201d).", "No interest shall accrue or be paid on the <strong>Option Spread</strong> for the benefit of the holder of such canceled Company Stock Option.", "At the Closing, each member of the management team will be paid an amount of cash (net of applicable taxes) equal to the <strong>Option Spread</strong> that he will not be contributing into the recapitalized Company, and each outstanding Company Stock Option with an exercise price in excess of $24 per share will terminate at the Closing.", "The <strong>Option Spread</strong> will be equal to the product of (i) the excess, if any, of (A) $24 per share of Company common stock less (B) the exercise price per share of Company common stock subject to such Company Stock Option, multiplied by (ii) the total number of shares of Company common stock subject to Company Stock Options held by the individual."], "related": [["option-purchase-price", "Option Purchase Price", "Option Purchase Price"], ["fixed-spread", "Fixed Spread", "Fixed Spread"], ["option-share", "Option Share", "Option Share"], ["price-per-share", "Price Per Share", "Price Per Share"], ["weighted-average-floating-spread", "Weighted Average Floating Spread", "Weighted Average Floating Spread"]], "related_snippets": [], "updated": "2025-07-10T05:58:13+00:00"}, "json": true, "cursor": ""}}