NATURE OF OPTION definition
NATURE OF OPTION. The Option shall be an incentive stock option as defined in Section 422 of the Code.
Date of Option Grant means ____________________.
Number of Options The number of Base Convertible Securities in denominations of USD1,000 principal amount issued by Counterparty on the closing date for the initial issuance of the Convertible Securities. For the avoidance of doubt, the Number of Options outstanding shall be reduced by each exercise of Options hereunder. Applicable Percentage: 20% Option Entitlement: The product of the Applicable Percentage and 10.7198
Other Award Agreement means a written agreement between the Company and a holder of an Other Award evidencing the terms and conditions of an Other Award grant. Each Other Award Agreement will be subject to the terms and conditions of the Plan.
Option Exchange Program means a program whereby outstanding Options are surrendered in exchange for Options with a lower exercise price.
Director Option means an Option granted pursuant to Section 6.