Options definition
Examples of Options in a sentence
The Option is non-assignable and non-transferable and, except in the case of the Optionee’s death, is exercisable only by the Optionee; provided that, subject to the prior approval of the Board and, if necessary, the Canadian Securities Exchange (the “Exchange”), the Optionee may assign the Option to a company of which all of the voting securities are beneficially owned by the Optionee, which ownership will continue for as long as any portion of the Options remains unexercised.
Upon termination of the Participant’s Service by the Company without Cause upon or within twenty-four (24) months following a Change in Control, all outstanding Options shall vest on the date of the Participant’s termination of Service.
The Company has not knowingly granted, and there is no and has been no policy or practice of the Company of granting, Stock Options prior to, or otherwise coordinating the grant of Stock Options with, the release or other public announcement of material information regarding the Company or its subsidiary or their results of operations.
Except as otherwise provided in Section 5, the Participant will become vested in the Time-Based Options and Performance Options pursuant to the terms specified in Section 2 (each applicable date of vesting, a “Vesting Date”).
Subject to the terms and conditions set forth in the Plan and this Agreement, one-third (1/3rd) of the Options shall vest and become exercisable on each of the first three (3) anniversaries of the Vesting Commencement Date, such that one hundred percent (100%) of the Options will be vested and exercisable on the third anniversary of the Vesting Commencement Date, subject, in each case, to the Participant’s continued Service through each applicable vesting date.