Substitute Option definition

Substitute Option means an Option granted in substitution for, or upon the conversion of, an option granted by another entity to purchase equity securities in the granting entity.
Substitute Option. Substitute Purchase Price" and "Substitute Common Stock," respectively.
Substitute Option means an option described in Section 6(j).

Examples of Substitute Option in a sentence

  • The Board shall have absolute and uncontrolled discretion to determine whether the Optionee has been offered a firm commitment and whether the tendered Substitute Option will substantially preserve to the Optionee the rights and benefits of the Option outstanding hereunder.

  • In any event, any Substitute Option for an Incentive Stock Option shall comply with the requirements of Code Section 424(a).

  • In any event, any Substitute Option for an Incentive Stock Option shall comply with the requirements of Code section 425(a).

  • The term "Highest Closing Price" shall mean the highest closing price for shares of Substitute Common Stock within the six-month period immediately preceding the date the Substitute Option Holder gives notice of the required repurchase of the Substitute Option or the Substitute Share Owner gives notice of the required repurchase of the Substitute Shares, as applicable.

  • In the event that the Substitute Option would be exercisable for more than the proportion of the outstanding Substitute Common Stock referred to in the immediately preceding paragraph but for this clause (e), the Substitute Option Issuer shall make a cash payment to Grantee equal to the excess of (i) the value of the Substitute Option without giving effect to the limitation in this clause (e) over (ii) the value of the Substitute Option after giving effect to the limitation in this clause (e).


More Definitions of Substitute Option

Substitute Option means an option under which Optionee has the right to purchase on substantially equivalent terms (as hereinafter defined) (in lieu of Shares), the stock, securities, or other property he would have been entitled to receive upon the consummation of such merger or consolidation had he exercised the option immediately prior thereto. For purposes of the preceding sentence, "substantially equivalent terms" shall be those terms given approval by the Board in their sole discretion.
Substitute Option means an Option that has been issued under this Plan to certain persons pursuant to the Benefits Agreement.
Substitute Option has the meaning set forth in Section 3.3(a).
Substitute Option shall have the meaning set forth in Section 2.8(a).
Substitute Option. Substitute Purchase Price", "Substitute Common Stock", "Substitute Option Repurchase Consideration", and "Substitute Option Request Date", respectively.
Substitute Option has the meaning set forth in Section 5.14(a).
Substitute Option means an Option granted in assumption of, or in substitution for, an outstanding option previously granted by a company acquired by the Company or an Affiliate or with which the Company or an Affiliate combines.