Who May Exercise definition

Who May Exercise. During the lifetime of the Optionee and except as provided in Section 6(c) of the Plan, the option evidenced by this Agreement may be exercised only by him and may be exercised only if, at the time the Optionee exercises the option, the Optionee is: (a) a retired former employee of the Company, during the period ending on the earlier of three years from the date of his retirement or the date of expiration of the Option, to the extent the former employee was entitled to exercise such Option at the date of retirement; (b) a consultant to the Company or a former consultant to the Company to the extent the former consultant was entitled to exercise such Option at the date of termination; or (c) an employee who has continuously since the grant hereof been an employee of the Company. A leave of absence by the Optionee at the request or with the approval of the Company shall not be deemed an interruption or termination of employment, so long as the period of such leave does not exceed 180 days or, if longer, so long as the Optionee's right to reemployment with the Company is guaranteed by contract, applicable law, a vote of the Board of Directors or the Company's corporate policy in effect on the date such leave commences.
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Related to Who May Exercise

  • Exercise means a Holder’s right to exercise the Securities, in accordance with Product Condition 3;

  • Remedies means actions designed to restore or preserve the complainant’s equal access to education after a respondent is found responsible. Remedies may include the same individualized services that constitute supportive measures, but need not be non-punitive or non-disciplinary, nor must they avoid burdening the respondent.

  • Exercise Right means the Exercise Right as specified in § 3 (1) of the Special Conditions.

  • right of use means any right we have to use, in our own name and on our own account or the account of another counterparty, financial instruments received by us by way of collateral under a security collateral arrangement between you and us;

  • Other Collateral means any additional collateral that Lender customarily would require as security for loan facilities on its own account and risk where the permitted borrowing level is based principally on a borrowing base derived from a borrower’s inventory and accounts receivable, but where such additional collateral does not enter into the borrowing base calculation.