Option Year in respect of an Option means the year commencing on the Earliest Exercise Date of the Option or on any anniversary of such date, and ending prior to or on the Latest Exercise Date;

Option Year means the year that would be added to a Player Contract if an Option were exercised.

Option Year means the additional twelve-month period that is added to the term of the Standard Player Contract of certain Rookies if the option provided for in Article V, Section 4 is exercised by the Team.

Examples of Option Year in a sentence

The Contract Period of Performance shall be as follows: Performance Period Dates Price Base Year: Option Year One: Option Year Two: Option Year Three: Option Year Four: Option years may be exercised unilaterally by the City at the City’s sole discretion.
The Contractor shall provide the services shown below for Option Year 2 of the contract, and continuing for a period of 12 months.
The Contractor shall provide the services shown below for Option Year 1 of the contract, and continuing for a period of 12 months.
The Contractor shall provide the services shown below for Option Year 1, starting one year after the date stated in the Notice to Proceed and continuing for a period of 12 months.
Upon the Option Year being exercised, the contractor must confirm in writing, the security payroll percentage as of the measurement date of the preceding period of performance to the CO.

More Definitions of Option Year

Option Year means a twelve (12) month period commencing on the Effective Date and each twelve (12) month period thereafter during the term of this Agreement.

Option Year means, with respect to a Stock Option granted under this Plan, a period of 12 consecutive months beginning on its Date of Grant or an anniversary of its Date of Grant.

Option Year has the meaning ascribed thereto in Section 2.1(g) (Key Principles) of this Agreement;

Option Year means One (1) year period following the Effective Date and each anniversary of the Effective Date.

Option Year means the 12-month period from the Effective Date until the first anniversary of the Effective Date and each subsequent 12-month period between anniversaries of the Effective Date during the Option Period.

Option Year means the year that would be added to a Player Contract if an Option were exercised. (mm) “Performance Bonus” means any Incentive Compensation described in Article II, Section 3(c)(iii). (nn) “Player Contract” (see “Uniform Player Contract”).

Option Year has the meaning specified in Section 2.2.