Gross Misconduct means the Participant has:
(i) Committed fraud, misappropriation, embezzlement, willful misconduct or gross negligence with respect to the Company or any Subsidiary thereof, or any other action in willful disregard of the interests of the Company or any Subsidiary thereof;
(ii) Been convicted of, or pled guilty or no contest to, (i) a felony, (ii) any misdemeanor (other than a traffic violation) with respect to his/her employment, or (iii) any other crime or activity that would impair his/her ability to perform his/her duties or impair the business reputation of the Company or any Subsidiary;
(iii) Refused or willfully failed to adequately perform any duties assigned to him/her; or
(iv) Refused or willfully failed to comply with standards, policies or procedures of the Company or any Subsidiary thereof, including without limitation the Companys Standards of Conduct as amended from time to time.
Incentive Stock Option or ISO means a stock option intended to qualify as an incentive stock option within the meaning of Code Section 422.
Normal Retirement means an employee voluntarily ceases to be an Employee at or after reaching age sixty-five (65).
Option means a stock option granted pursuant to Section 6 of the Plan that is not an ISO, entitling the Optionee to purchase Shares at a specified price.
Optionee means an Employee, Consultant, or Director who has been granted an Option under this Plan or, where appropriate, a person authorized to exercise an Option in place of the intended original Optionee.
Other Stock-Based Awards are Awards (other than Options, SARs, RSUs and Restricted Stock Grants) granted under Section 10 of the Plan that are denominated in, valued in whole or in part by reference to, or otherwise based on or related to, Common Stock.
Participant means Optionees and Recipients, collectively. The term Participant also includes, where appropriate, a person authorized to exercise an Option or hold or receive another Award in place of the intended original Optionee or Recipient.
Performance Objectives means one or more objective or subjective performance factors as determined by the Administrator with respect to each Performance Period.
Performance Period means a period for which Performance Objectives are set and during which performance is to be measured to determine whether a Participant is entitled to payment in respect of an Award under the Plan. A Performance Period may coincide with one or more complete or partial calendar or fiscal years of the Company. Unless otherwise designated by the Administrator, the Performance Period will be based on the calendar year.
Plan means this 2020 Stock Incentive Plan, as amended from time to time.