Underwater Option definition

Underwater Option means, with respect to each Company Stock Option, each Company Stock Option with an exercise price equal to or greater than the Merger Consideration.

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Underwater Option means Company Option (whether vested or unvested) with an exercise price equal to or greater than the Merger Consideration.

Underwater Option means any Option with an exercise price equal to or in excess of the Per Share Common Stock Merger Consideration.

Examples of Underwater Option in a sentence

• At the Effective Time, each Underwater Option shall, automatically and without any required action on the part of the holder thereof, be canceled for no consideration.

• Any Underwater Option shall be canceled and shall terminate at the Company Merger Effective Time with no consideration paid therefor.

• Section 1.01(b) of the Merger Agreement is amended to include: Applicable Payment 2.05 (b) Underwater Option 2.05 (b) Section 1.02 .

• Notwithstanding the foregoing, to the extent that the exercise price per share of Common Stock of any Vested Option is equal to or greater than the Merger Consideration (each, an “Underwater Option”), at the Closing, each such Underwater Option will be cancelled and extinguished and the holder of such Underwater Option will not receive any payment therefor.

• Immediately prior to the Effective Time, except as set forth in Section 2.02(a) of the Company Disclosure Schedule, (i) vesting of each Company Equity Award that is not an Underwater Option shall be accelerated by twelve (12) months, and (ii) vesting of each Company Equity Award that is an Underwater Option shall be accelerated as to all of the covered Shares.

More Definitions of Underwater Option

Underwater Option means an Option for which the Fair Market Value of the underlying Common Stock is less than the exercise price of that Option.

Underwater Option means any Company Option that has an exercise price payable in respect of a share of Company Common Stock subject to such Company Option that equals or exceeds the Per Share Amount, whether or not vested.

Underwater Option means any Option with an exercise price equal to or in excess of the Per Share Value.

Underwater Option means each Company Option with no positive amount of Option Consideration.

Underwater Option means any Company Option that has an exercise price payable in respect of a share of Company Common Stock subject to such Company Option that equals or exceeds the Residual Per Share Amount, whether or not vested.

Underwater Option means any Company Stock Option with an aggregate exercise price equal to or in excess of the Company Equity Award Aggregate Value of such Company Stock Option, it being understood that Underwater Options shall be determined on an iterative basis.

Underwater Option means each Broadcom Stock Option with an exercise price equal to or greater than the Equity Award Consideration as of immediately prior to the Closing.