Permitted Options definition

Permitted Options means options to purchase an aggregate of not more than three million shares of Class B Common Stock, minus any options to purchase shares of Class B Common Stock outstanding by reason of the assumption of options by the Corporation in the Merger.

Permitted Options means grants of options to acquire shares of Common Stock or of restricted Common Stock, issued after the Issuance Date to employees, consultants, officers or non-employee directors of the Corporation pursuant to any stock option, restricted stock, stock purchase or stock bonus plan, agreement or arrangement approved by the Board of Directors, existing on December 31, 2003 or modified or adopted in accordance with Section 5(e)(iv).

Permitted Options is defined in Section 4.02(a)(i). "Permitted Securities Transaction" is defined in Section 4.02(b)(ii). B-36

Examples of Permitted Options in a sentence

• Permitted Options: Steering wheels are free within the limitations imposed by the following regulations.

• The exercise price per share of each such assumed Option, other than Permitted Options, shall be equal to the exercise price of such Option immediately prior to the Effective Time, divided by the Common Conversion Ratio (with any fraction resulting from such division to be rounded up to the nearest whole cent).

• For all assumed Options, other than any Options issued as contemplated by Section 4.4(a) (referred to as the "Permitted Options"), each Option shall become an option to acquire a number of shares of Buyer Common Stock equal to the number of Common Shares subject to the unexercised portion of such Option multiplied by the Common Conversion Ratio (with any fraction resulting from such multiplication to be rounded down to the nearest whole number).

• Institution will then determine whether it will accept such information, equipment or materials or decline.

• Except for the Permitted Options and Holdings Warrant, there are no other outstanding securities issued by the Borrower or any warrant, option or other right to acquire from the Borrower any securities issued by it.

More Definitions of Permitted Options

Permitted Options has the meaning assigned to such term in Section 6.05(e).

Permitted Options means options or warrants to acquire Permitted Securities of Borrower, in an amount not to exceed thirty percent (30%) of the fully diluted common stock, par value $0.001 per share, of Borrower as of the Closing Date, issued to employees, non-employee directors, service providers, consultants and other advisors pursuant to the terms of the related employment or other compensation-related agreements and/or incentive stock plans adopted and approved by the Board of Directors of Borrower.

Permitted Options is defined in Section 4.02(a)(i).

Permitted Options has the meaning set forth in paragraph A(5)(c)(iii) ----------------- hereof.

Permitted Options means the Options for the purchase of up to 38,820,624 Common Shares authorized, issued or granted by the Company on or prior to March 5, 2002.

Permitted Options means options to acquire shares of Common Stock or restricted Common Stock, not to exceed in the aggregate in any fiscal year 2 1/2% of the shares of Common Stock outstanding at the end of the immediately preceding fiscal year (treating the Series A Preferred Stock for this purpose as having been converted into Common Stock), issued after the Issuance Date to employees, consultants, officers or non-employee directors of the Corporation pursuant to any stock option, restricted stock, stock purchase or stock bonus plan, agreement or arrangement approved by the Board of Directors, which approval shall include a majority of the Designated Directors.

Permitted Options means all securities issued or issuable under the Wilmar Industries 2000 Stock Option Plan; provided that such Permitted -------- Options may not exceed in the aggregate 5% of the Fully Diluted Shares calculated as of the date hereof after the issuance of the Warrants. The adjustments shall be made successively whenever any such rights, options or warrants are issued and shall become effective immediately after the relevant Time of Determination. Notwithstanding the foregoing, the Exercise Rate and the Exercise Price shall not be subject to adjustment in connection with (i) the issuance of any shares of Common Stock upon exercise of any such rights, options or warrants which have previously been the subject of an adjustment under this Agreement for which the required adjustment has been made, (ii) any exercise of the Warrants and (iii) the issuance, conversion or exercise of Permitted Options. If at the end of the period during which any such rights, options or warrants are exercisable, not all rights, options or warrants shall have been exercised, the Warrant shall be immediately readjusted to what it would have been if "N" in each of the above formulas had been the number of shares actually issued.