Existing Options Sample Clauses
The 'Existing Options' clause defines the rights and obligations related to any options—such as stock options or purchase options—that are already in place before the agreement is executed. This clause typically outlines which options are recognized as valid, how they will be treated under the new agreement, and whether any changes or restrictions apply to them going forward. For example, it may specify that all previously granted employee stock options will remain unaffected by a merger or acquisition. The core function of this clause is to ensure clarity and prevent disputes by explicitly addressing the status of pre-existing options, thereby protecting the interests of parties who hold or are affected by those options.
Existing Options. The Company hereby undertakes to amend and restate each option agreement executed with Executive prior to the date hereof to provide that all such options shall vest immediately upon (A) the occurrence of an event which constitutes a Change of Control (as defined herein) of the Company and (B)(i) the termination of Executive's employment without Cause (as defined herein) or (ii) termination of employment by Executive with Good Reason (as defined herein), in either case within one (1) year of the date on which the Change of Control takes place.
Existing Options. All of the Executive's existing options, if any, to purchase shares of the Company's common stock shall remain outstanding and shall be exercisable as originally granted.
Existing Options. Existing Options" shall mean any of the following relating to any capital stock or other equity interest of the Company: (a) options or warrants (whether vested or not) to purchase or other rights (including registration rights), agreements, arrangements or commitments of any character to which the Company is a party relating to the issued or unissued capital stock or other equity or phantom equity interests of the Company to grant, issue or sell any shares of the capital stock or other equity or phantom equity interests of the Company by sale, lease, license or otherwise; (b) rights to subscribe for or purchase any shares of the capital stock or other equity or phantom equity interests of the Company; or (c) Contracts with respect to any right to purchase, put or call any shares of the capital stock or other equity or phantom equity interests of the Company.
Existing Options. The Company acknowledges and agrees that all options (the “Options”) to purchase shares of Company common stock, par value $.001 per share (the “Common Stock”) previously issued to ▇▇▇▇▇▇▇ under the Plan or under any other Company plan or arrangement (including, without limitation, the Company’s Amended and Restated 2001 Incentive Plan, as amended) shall vest upon the Retirement Date. The Company further agrees that all such Options shall not terminate on the 90th day following the Retirement Date, but shall, instead, remain outstanding for the remaining life of such Options; provided, however, that ▇▇▇▇▇▇▇ acknowledges and agrees that (A) any unexercised Options held following the 90th day following the Retirement Date shall lose their status as incentive stock options (“ISOs”) within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended, (the “Code”) and shall revert to nonqualified stock options; and (B) he has been made aware of and understands the ramifications to him of the change of status of his Options from ISOs to non-qualified options.
Existing Options. 18 ARTICLE 3
Existing Options. All of Employee's stock options outstanding and unexercised as of the date hereof that are outstanding as of the Effective Date shall be converted on the Effective Date into options to purchase shares of USAi's common stock in accordance with the Merger Agreement. On the Effective Date, Employee shall become fully vested in any and all stock option awards granted to Employee under LendingTree's 1997 Stock Option Plan, 1998 Stock Option Plan, 1999 Stock Incentive Plan, Amended and Restated 1999 Stock Incentive Plan, 2001 Stock Incentive Plan, Amended and Restated 2001 Stock Incentive Plan, and any similar plan or other arrangement of LendingTree which have not become exercisable as of the Effective Date, and such stock option awards shall remain exercisable until the last date on which the original option was scheduled to expire, without regard to whether the termination of employment would have provided for a shorter exercise period following termination of Employee's employment.
Existing Options. Employer previously granted Executive options to purchase two hundred thirty one thousand eight hundred five (231,805) shares of Employer's common stock in stock option grants dated December, 2004 and March, 2005 ("Existing Options"). As of the date of this Agreement, the options subject to the Existing Options are fully vested.
Existing Options. (a) Prior to the Closing Date, the Company shall take all action necessary, including, without limitation, satisfying any applicable notice requirements, so that each existing option to purchase Company Capital Stock which is outstanding at the Effective Time (each an "Existing Option") that is not then vested and exercisable shall become vested and exercisable. Immediately prior to the Closing Date, the Company shall exchange each Existing Option for, and the holder of each such Existing Option will be entitled to receive, immediately prior to the Closing upon surrender of such Existing Option for cancellation, cash equal to the product of (i) the positive difference, if any, between the Merger Consideration less the exercise price of each such Existing Option, and (ii) the number of shares of Company Capital Stock covered by such Existing Option.
(b) The Company shall take all actions reasonably necessary to ensure that from and after the Effective Time the Surviving Corporation will not be bound by any options, warrants, rights or agreements which would entitle any person, other than Parent or Merger Sub, to beneficially own shares of Surviving Corporation or Parent or receive any payments (other than as set forth in this Section 1.9(a)) in respect of such options, warrants, rights or agreements. The Company shall take all actions necessary to terminate each plan with respect to Existing Options as of the Effective Time.
Existing Options. Executive holds on the Effective Date options for zero shares of common stock of the Company (the "Existing Options") pursuant to an agreement entitled N/A, dated N/A. The Existing Options are subject to the terms and conditions of the Omnibus Stock and Incentive Plan (the "Option Plan"), and shall hereafter continue to be subject to and controlled by the terms and conditions of the Option Plan.
Existing Options. Number of Options: 2,400,000 Option Exercise Price: US$0.87 (see Note 1) Grant Date: November 26, 2008 Option Expiration Date: November 26, 2015 February 26, 2009 200,000 200,000 May 26, 2009 200,000 400,000 August 26, 2009 200,000 600,000 November 26, 2009 200,000 800,000 February 26, 2010 200,000 1,000,000 May 26, 2010 200,000 1,200,000 August 26, 2010 200,000 1,400,000 November 26, 2010 200,000 1,600,000 February 26, 2011 200,000 1,800,000 May 26, 2011 200,000 2,000,000 August 26, 2011 200,000 2,200,000 November 26, 2011 200,000 2,400,000