Qualified Options definition

Qualified Options means all stock options, restricted stock, and other similar rights (a) granted to Employee prior to February 22, 2001 (whether vested or unvested), that entitle Employee to acquire NOVA Corp stock for a price per share equal to or greater than $17.92 (such options being converted by virtue of the Merger into the right to acquire stock of Parent); or (b) granted to Employee on or after February 22, 2001.

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Qualified Options means all stock options, restricted stock, and other similar rights (a) granted to Employee prior to the date hereof (whether vested or unvested), that entitle Employee to acquire NOVA Stock for a price per share equal to or greater than $17.92; or (b) granted to Employee on or after the date of this Agreement.

Qualified Options means the Common Share purchase options granted under the Corporation's 1996 and 2000 Stock Option Plans, as amended, listed in Disclosure Letter and in each case being outstanding and unexercised on the Effective Date;

Examples of Qualified Options in a sentence

• Where possible under existing tax laws, these option grants will be Incentive Stock Option Grants otherwise these options will be Non Qualified Options.

• Non- Qualified Options, Awards and authorizations to make Purchases may be granted to any employee, officer or director (whether or not also an employee) or consultant of the Company or any Related Corporation.

• Executive will forfeit the unvested Options described in Section 2.2 above, and Executive will have not less than 90 days to exercise the vested Qualified Options and not less than 120 days to exercise the vested Non- Qualified Options.

• Any unvested Options described in Section 2.2 above shall be forfeited, and Executive's surviving spouse or legal representative shall have not less than 90 days to exercise the vested Qualified Options and not less than 120 days to exercise vested Non-Qualified Options.

• ADSX will use its reasonable best efforts to maintain the effectiveness of the S-8 Registration Statement for so long as any Qualified Options remain outstanding or, in each case, until such earlier time as ADSX determines to be sufficient on the written advice of its outside counsel.

• This provision supplements Section 5 (Early Termination of Option) of the Option Agreement: Notwithstanding any post-termination exercise period provided for herein or in the Plan, the Option will qualify as an Qualified Option only if it is exercised within the applicable exercise periods for Qualified Options under, and meets all of the applicable requirements of, the Code.

• If the Option is designated as an Qualified Option, the Option will be rendered a nonqualified Option if the Option is not exercised within the applicable exercise periods for Qualified Options or does not meet such other requirements.

• The Options will be issued under the El Paso Electric Company 1996 Long-Term Incentive Plan and will be evidenced by a separate Stock Option Agreement (the "Stock Option Agreement") between Executive and the Company which agreement will provide that the maximum number of Options will be incentive stock options (the "Qualified Options") and the remainder of the Options will be non-qualified stock options (the "Non-Qualified Options").

• The Committee in its sole discretion shall designate whether an Option is an Incentive Option or a Non-Qualified Option; provided, however, that only Non- Qualified Options may be granted to Eligible Consultants.

• In addition, the Company agrees to issue to KBC or its designee, upon execution of this Agreement, Fifty Thousand (50,000) common stock Qualified Options of the Company.

More Definitions of Qualified Options

Qualified Options means those certain options for the right to purchase up to 30,166 Common Shares issued to key employees acceptable to the Majority Purchasers and in the amounts, at the price and on other terms and conditions acceptable to the Majority Purchasers.

Qualified Options means stock options that are intended to satisfy the requirements of section 1046 of the Code.

Qualified Options granted shall enable Employee to purchase Employer shares at an option price equal to 110% of the market value of Employer's stock (as reasonably determined in good faith by Employer's Board of Directors using such market data as they, in their sole judgement, shall deem appropriate) as of the date the options are granted (the "Market Value"). Thus, the purchase price under the Qualified Options shall be the Market Value times 1.10 (the "Purchase Price"). Qualified Options shall be exercisable at any time for a period of five years from the date of grant. Non-Qualified Options shall enable Employee to purchase Employer shares at an option price equal to the market value of Employer's stock (as reasonably determined in good faith by Employer's Board of Directors using such market data as they, in their sole judgement, shall deem appropriate) as of the date the options are granted (the "Market Value") per share at any time for a period of fifteen years from the date of grant. Employee shall have the discretion to choose Qualified Options, Non-Qualified Options or a combination thereof but only within the parameters set herein. Qualified Options with an aggregate Purchase Price of up to but not exceeding $100,000 may be granted annually (the "Qualified Option Maximum"). If sufficient shares are not available under the Qualified Option Plan to grant the number of Qualified Options requested by Employee (which shall not exceed the Qualified Option Maximum) then Non-Qualified Options for all such shares as are available thereunder shall be granted to Employee.