Third Option definition

Third Option. Life Income with Refund The Company will make equal monthly payments. Payments will start on the Option Date and will continue during the life of the Payee. At the death of the Payee, if the total payments made are less than the total proceeds applied to the Option, then: . The difference will be paid in one sum, called "Life Income, Cash Refund"; or . The equal monthly payments will continue until the total payments are equal to the total proceeds applied to the Option, called "Life Income, Instalment Refund".

Third Option. If no such employee exists pursuant to Option 3, replace the least senior person in the same classification having a different but most nearly equivalent employment status and hours per year, provided the employee has the abilities and qualifications to perform the duties of the job position (Same class with most like hours per year), OR replace the least senior employee in the next classification down having the same employment status and hours per year, provided the employee has greater seniority and the abilities and qualifications to perform the duties of the job position. (Next classification down same or most similar hours per year).

Third Option. LIFE INCOME WITH REFUND The Company will make equal monthly payments. Payments will start on the Option Date and will continue during the life of the Payee. At the death of the Payee, if the total payments made are less than the total proceeds applied to the Option, then: - The difference will be paid in one sum, called "Life Income, Cash Refund"; or - The equal monthly payments will continue until the total payments are equal to the total proceeds applied to the Option, called "Life Income, Instalment Refund".

Examples of Third Option in a sentence

• Under the Third Option, the amount of each payment will depend upon the sex of both payees and their ages at the time the first payment is due.

• In the absence of an election by You, the Contract Value will be used to calculate a fixed dollar Annuity under the Third Option (Life Annuity with 10 Years Period Certain).

• The Borrower shall provide the Holders of the Purchased Third Option Notes and the Agent with at least five (5) Business Days prior written notice of any election to exercise its right to prepay any portion of the Purchased Third Option Notes pursuant to this Section 2(e).

• Each of the First Option, Second Option, Third Option, and Fourth Option (together, the “Options”) are governed by the Parent’s relevant equity plan and/or award agreement, unless specifically stated otherwise in this Agreement.

• The Borrower shall have the right at any time and from time to time to prepay the Purchased Third Option Notes, in whole or in part, at a price equal to 100% of the Principal Amount of the Purchased Third Option Notes being prepaid plus all accrued and unpaid interest thereon to the date of prepayment.

More Definitions of Third Option

Third Option. The Deputy Fire Chief or Fire Chief may temporarily act as Battalion Chief in situations that would otherwise require mandatory overtime. Fourth Option – Mandatory rank for rank.

Third Option has the meaning provided in the Governance Agreement.

Third Option has the meaning set out in Section 7.1;

Third Option means the Option Term, if any, referred to in Item 7(g).

Third Option means the option to acquire up to 5,000,000 shares of Voting Common (subject to adjustment as provided therein) on or before sixth anniversary of the Original Issuance Date issued by the Corporation to the Original Majority Holder on the Original Issuance Date.

Third Option means: that option granted by GlobalSCAPE pursuant to the 2000 Stock Option Plan to purchase Five Hundred Seventy Five Thousand (575,000) shares of Common Stock of GlobalSCAPE for $0.4640 per share and attached as Exhibit H to this Release;

Third Option has the meaning ascribed thereto in Section 5.1(c) of this Agreement.