Automatic Option definition

Automatic Option. -- means a Non-Qualified Stock Option automatically granted to a Non-Employee Director pursuant to Section 6A hereof.
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Automatic Option means an Option granted pursuant to Section 6.
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Automatic Option means a Nonqualified Stock Option automatically granted from time to time to a Non-Employee Director pursuant to Section 7(d) hereof.
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Examples of Automatic Option in a sentence

  • The Plan Administrator may, in its discretion, provide any or all holders of Non-Statutory Options or unvested shares of Common Stock under the Plan (other than the options granted or the shares issued under the Automatic Option Grant Program) with the right to use shares of Common Stock in satisfaction of all or part of the Taxes incurred by such holders in connection with the exercise of their options or the vesting of their shares.

  • Automatic Option grants under Section 11 hereof shall only be made to Independent Directors.

  • The remaining terms of each option granted under the Automatic Option Grant Program shall be the same as the terms in effect for option grants made under the Discretionary Option Grant Program.

  • Automatic Option If you do not choose an annuity option at least 30 days before the latest Annuity Date allowed under this Contract, we will make variable annuity payments under the Life Annuity with Guaranteed Period annuity option.

  • The exercise of such limited stock appreciation right in accordance with the terms of this Paragraph 7 has been pre-approved pursuant to the express provisions of the Automatic Option Grant Program, and neither the approval of the Plan Administrator nor the consent of the Board shall be required at the time of the actual option surrender and cash distribution.

  • Only non-employee members of the Board [who are not 10% Stockholders] shall be eligible to participate in the Automatic Option Grant Program.

  • The grant of options under the Automatic Option Grant Program shall in no way affect the right of the Corporation to adjust, reclassify, reorganize or otherwise change its capital or business structure or to merge, consolidate, dissolve, liquidate or sell or transfer all or any part of its business or assets.

  • Under the Automatic Option Grant Program in effect under the Corporation's 1994 Stock Option Plan (the "Plan"), the non-employee members of the Corporation's Board of Directors (the "Board") will automatically receive periodic option grants designed to reward them for services they have rendered to the Corporation and to encourage them to continue in the service of the Corporation.

  • A non-employee Board member shall not be eligible to participate in the Automatic Option Grant Program, however, if such individual has at any time been in the prior employ of the Corporation (or any parent or subsidiary corporation).

  • Except as may be required by the terms of the Automatic Option Grant Program under the 1998 Stock Option/Stock Issuance Plan or any grants thereunder as of the date hereof to directors, the Company shall not accelerate the vesting, or otherwise amend the terms, of any unvested Company Stock Rights under any of the Stock Plans.


More Definitions of Automatic Option

Automatic Option means the option to enter into Discounting transactions with SANUK in respect of all present and future Invoices included in Invoice Notifications from the Client;
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Related to Automatic Option

  • Automatic Exercise Date means, with respect to an Option or a Stock Appreciation Right, the last business day of the applicable Option Term or Stock Appreciation Right Term that was initially established by the Administrator for such Option or Stock Appreciation Right (e.g., the last business day prior to the tenth anniversary of the date of grant of such Option or Stock Appreciation Right if the Option or Stock Appreciation Right initially had a ten-year Option Term or Stock Appreciation Right Term, as applicable).

  • Automatic Exercise Applicable; and means that for each Expiration Date, a number of Warrants equal to the Daily Number of Warrants for such Expiration Date will be deemed to be automatically exercised at the Expiration Time on such Expiration Date.

  • Top-Up Option has the meaning set forth in Section 1.04(a).

  • Reload Option means any Option granted under Section 6(a)(iv) of the Plan.

  • 3(i) Option means an Option granted pursuant to Section 3(i) of the Ordinance to any person who is Non- Employee.