Designated Subsidiary shall mean any subsidiary corporation of the Company (as determined in accordance with Section 424 of the Code) that has been designated by the Committee to participate in the Plan.
Employee shall mean any full-time or part-time employee of the Company or a Designated Subsidiary who customarily works for the Company or Designated Subsidiary, as the case may be, for a minimum of eighteen (18) hours per week.
Equity Incentive Plan shall mean the Companys 2019 Equity Incentive Plan, as amended from time to time, or any successor plan thereto.
Exchange Act shall mean the Securities Exchange Act of 1934, as amended from time to time, together with any applicable regulations issued thereunder.
Exercise Date shall mean the last Trading Day of each Option Period.
Fair Market Value shall have the meaning set forth in the Equity Incentive Plan.
New Exercise Date shall mean a new Exercise Date, as designated by the Committee, if the Committee shortens any Option Period then in progress.
Option Period shall mean such duration (not to exceed twenty-seven (27) months) as shall be determined by the Committee prior to the beginning of such Option Period. Unless the Committee determines otherwise before the beginning of the Option Period, Option Periods shall commence at six (6)-month intervals on each January 1 and July 1 (or the next Trading Day, if such date is not a Trading Day) over the term of the Plan, and each Option Period shall last for six (6) months, ending on June 30 or December 31, as the case may be (or the preceding Trading Day, if such date is not a Trading Day). Accordingly, unless the Committee determines otherwise, two separate Option Periods shall commence in each calendar year during which the Plan remains in existence. Notwithstanding the foregoing, the initial Option Period shall not commence until the date first specifically authorized by the Committee, subject to the Companys prior registration of the Stock on Form S-8.
Option Price shall mean the purchase price of a share of Stock hereunder as provided in Section 3.1 hereof.
Participant shall mean any Employee who (i) is eligible to participate in the Plan under Section 2.1 hereof and (ii) elects to participate.
Plan shall have the meaning set forth in Section 1.1 hereof.
Plan Manager shall mean any Employee appointed pursuant to Section 1.3 hereof.
Stock shall mean shares of the common stock, par value $0.01 per share, of the Company (and any stock or other securities into which such Stock may be converted or into which it may be exchanged).
Trading Day shall mean a day on which the national stock exchange upon which the Common Stock is listed is open for trading.
1.3 Administration of Plan. Subject to oversight by the Board of Directors or the Boards Compensation and Human Resources Committee, as applicable, the Committee shall have the authority to administer the Plan and to make and adopt rules and regulations not inconsistent with the provisions of the Plan or the Code. Its interpretations and decisions in respect of the Plan shall, subject to the aforesaid, be