Surrender of Options. Upon the Optionee's surrender to the Company for cancellation of this Agreement and the Option granted herein; and,
Surrender of Options. Subject to the terms and conditions of this Agreement, upon the execution of this Agreement, the Executive shall surrender to the Company all of the Options and have no further rights to any of such Options, and the Company shall cancel the Options upon their surrender to the Company. Such surrender and cancellation are together referred to herein as the “Option Cancellation.”
Surrender of Options. The Committee, in its sole discretion, may incorporate one or more provisions in any Option granted under this Plan to allow a Participant to surrender his/her Option in whole or part in lieu of the exercise of all or part of that Option or in payment of any amounts due the Company upon the exercise of such Award. Such provision(s) may specify that the Committee may authorize such surrender after the grant, but before the exercise, of any such Option.
Surrender of Options. Any election by the Employee to surrender options to the Company pursuant to Sections 11(d)(C) or 11(e)(C) must be made on or within 30 days after the Date of Termination, and if the Employee does not make the election during such time period, the Employee’s right to do so shall expire. The Company shall make a cash lump sum payment to the Employee within five days following the surrender equal to the excess of (1) the fair market value on the date of surrender of the securities issuable upon exercise of the options surrendered over (2) the aggregate exercise price of the options surrendered.
Surrender of Options. (a) Grantee may, at any time following a Repurchase Event and prior to the occurrence of an Exercise Termination Event (or such later period as provided in Section 10), relinquish the Option (together with any Option Shares issued to and then owned by Grantee) to Issuer in exchange for a cash fee equal to the Surrender Price; provided, however, that Grantee may not exercise its rights pursuant to this Section 14 if Issuer has repurchased the Option (or any portion thereof) or any Option Shares pursuant to Section 7. The “Surrender Price” shall be equal to $22 million (i) plus, if applicable, Grantee’s purchase price with respect to any Option Shares being so relinquished and (ii) minus, if applicable, the sum of (1) the excess of (A) the net cash amounts, if any, received by Grantee pursuant to the arms’ length sale of Option Shares (or any other securities into which such Option Shares were converted or exchanged) to any unaffiliated party, over (B) Grantee’s purchase price of such Option Shares, and (2) the net cash amounts, if any, received by Grantee pursuant to an arms’ length sale of any portion of the Option sold.
Surrender of Options. The Sellers, on the Closing Date, shall surrender to the Company for immediate cancellation, for no additional consideration, any Options that have not been exercised at or prior thereto.
Surrender of Options. (a) Grantee may, at any time following a Repurchase Event and prior to the occurrence of an Exercise Termination Event (or such later period as provided in Section 10), relinquish the Option (together with any Option Shares issued to and then owned by Grantee) to Issuer in exchange for a cash fee equal to the Surrender Price; provided, however, that Grantee may not exercise its rights pursuant to this Section 14(a) if Issuer has previously repurchased the Option or any portion of the Option Shares pursuant to Section 7. The “Surrender Price” shall be equal to $39,000,000 (i) plus, if applicable, Grantee’s purchase price with respect to any Option Shares being so relinquished and (ii) minus, if applicable, the sum of (1) the excess of (A) the net price, if any, received by Grantee or a Grantee Subsidiary pursuant to the arm’s-length sale of Option Shares (or any other securities into which such Option Shares were converted or exchanged) to any unaffiliated party, or to Issuer pursuant to Section 7, over (B) Grantee’s purchase price of such Option Shares. For purposes of this Section 14, the term Grantee shall include all Holders and in no event shall the aggregate amounts paid or payable pursuant to this Section 14 to all Holders exceed the amount set forth in the preceding sentence as payable to Grantee.
Surrender of Options. The Committee may, in its discretion and upon such terms and conditions as it deems appropriate, accept the surrender by a participant of a presently exercisable right to purchase stock granted under an option and authorize payment by the Company in consideration therefor of an amount equal to the difference obtained by subtracting the option price of the stock from its fair market value on the date of such surrender, such payment to be in cash or shares of the Common Stock of the Company valued at fair market value on the date of such surrender, or partly in such stock and partly in cash, provided that the Committee determines such settlement is consistent with the purpose of the Plan.
Surrender of Options. As additional consideration for the Shares, William Pursley, the Company's Chief Executive Officer, hereby agxxxx, xx xxx xxrection of Xechem, to surrender his options to purchase 43,000,000 shares of the common stock, par value $ .00001 per share, of Xechem.
Surrender of Options. A participant may have shares withheld from shares otherwise issuable to him in connection with the exercise of a stock option; or
