Exercise of Option Clause Example with 6 Variations from Business Contracts
This page contains Exercise of Option clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Exercise of Option. (a) Unless a Participant withdraws from the Plan as provided in Section 10, his or her option for the purchase of shares of Common Stock will be exercised automatically on the Exercise Date, and the maximum number of full shares subject to the option will be purchased for such Participant at the applicable Purchase Price with the accumulated Contributions from his or her account. No fractional shares of Common Stock will be purchased; any Contributions accumulated in a Participant's account, whi...ch are not sufficient to purchase a full share will be retained in the Participant's account for the subsequent Purchase Period or Offering Period, subject to earlier withdrawal by the Participant as provided in Section 10. Any other funds left over in a Participant's account after the Exercise Date will be returned to the Participant. During a Participant's lifetime, a Participant's option to purchase shares hereunder is exercisable only by him or her. (b) If the Administrator determines that, on a given Exercise Date, the number of shares of Common Stock with respect to which options are to be exercised may exceed (i) the number of shares of Common Stock that were available for sale under the Plan on the Enrollment Date of the applicable Offering Period, or (ii) the number of shares of Common Stock available for sale under the Plan on such Exercise Date, the Administrator may in its sole discretion (x) provide that the Company will make a pro rata allocation of the shares of Common Stock available for purchase on such Enrollment Date or Exercise Date, as applicable, in as uniform a manner as will be practicable and as it will determine in its sole discretion to be equitable among all Participants exercising options to purchase Common Stock on such Exercise Date, and continue all Offering Periods then in effect or (y) provide that the Company will make a pro rata allocation of the shares available for purchase on such Enrollment Date or Exercise Date, as applicable, in as uniform a manner as will be practicable and as it will determine in its sole discretion to be equitable among all participants exercising options to purchase Common Stock on such Exercise Date, and terminate any or all Offering Periods then in effect pursuant to Section 20. The Company may make a pro rata allocation of the shares available on the Enrollment Date of any applicable Offering Period pursuant to the preceding sentence, notwithstanding any authorization of additional shares for issuance under the Plan by the Company's stockholders subsequent to such Enrollment Date.View More
Variations of a "Exercise of Option" Clause from Business Contracts
Exercise of Option. (a) Unless a Participant withdraws from the Plan as provided in Section 10, his 10 of the Plan or her otherwise becomes ineligible to participate in the Plan, such Participant's option for the purchase of shares of Common Stock will Shares shall be exercised automatically on the Exercise Date, and the maximum number of full shares Shares subject to the option will shall be purchased for such Participant at the applicable Purchase Price with the accumulated Contributions from payroll deductions i...n his or her account. No fractional shares of Common Stock will Shares shall be purchased; purchased, and any Contributions payroll deductions accumulated in a Participant's account, account which are not sufficient to purchase a full share will Share shall be retained in the such Participant's account for the subsequent Purchase Period or Offering Period, subject to earlier withdrawal by the Participant as provided in Section 10. Any other funds left over in a Participant's account after the Exercise Date will be returned to the Participant. Period. During a Participant's lifetime, a Participant's option to purchase shares Shares hereunder is exercisable only by him or her. such Participant. (b) If the Administrator Committee determines that, on a given Exercise Date, the number of shares of Common Stock Shares with respect to which options are to be exercised may exceed (i) the number of shares of Common Stock Shares that were available for sale under the Plan on the Enrollment Date of the applicable Offering Period, or Period (notwithstanding any authorization of additional Shares for issuance under the Plan by the Company's shareholders subsequent to such Enrollment Date); (ii) the number of shares of Common Stock Shares available for sale under the Plan on such Exercise Date; or (iii) the number of Shares available for sale on such Exercise Date, the Administrator may in its sole discretion (x) Committee shall provide that the Company will (or its designated third-party stock plan administrator) shall make a pro rata allocation of the shares of Common Stock Shares available for purchase on such Enrollment Date or Exercise Date, as applicable, in as uniform a manner as will shall be practicable and as it will shall determine in its sole discretion to be equitable among all Participants exercising options to purchase Common Stock Shares on such Exercise Date, and shall decide, in its sole discretion, to either (x) continue all Offering Periods then in effect or (y) provide that the Company will make a pro rata allocation of the shares available for purchase on such Enrollment Date or Exercise Date, as applicable, in as uniform a manner as will be practicable and as it will determine in its sole discretion to be equitable among all participants exercising options to purchase Common Stock on such Exercise Date, and terminate any or all Offering Periods then in effect pursuant to Section 20 The Company may make of the Plan. In the event of such a pro rata allocation of the shares available on the Enrollment Date of any applicable Offering Period Shares pursuant to this Section 8(b), the preceding sentence, notwithstanding balance of the amount credited to the account of each Participant that has not been applied to the purchase of Shares shall be paid to each such Participant in one lump sum in cash as soon as reasonably practicable after the Exercise Date, without any authorization of additional shares for issuance under the Plan by the Company's stockholders subsequent to such Enrollment Date. interest thereon. View More
Exercise of Option. (a) Unless a Participant withdraws from the Plan as provided in Section 10, his 10 of the Plan or her option otherwise becomes ineligible to participate in the Plan, such Participant's Option for the purchase of shares of Common Stock will Shares shall be exercised automatically on the Exercise Date, and the maximum number of full shares Shares subject to the option will Option shall be purchased for such Participant at the applicable Purchase Price with the accumulated Contributions from payrol...l deductions in his or her account. No fractional shares of Common Stock will Shares shall be purchased; purchased, and any Contributions payroll deductions accumulated in a Participant's account, account which are not sufficient to purchase a full share will Share shall be retained in the such Participant's account for the subsequent Purchase Period or Offering Period, subject to earlier withdrawal by the Participant as provided in Section 10. Any other funds left over in a Participant's account after the Exercise Date will be returned to the Participant. Period. During a Participant's lifetime, a Participant's option Option to purchase shares Shares hereunder is exercisable only by him or her. such Participant. (b) If the Administrator Committee determines that, on a given Exercise Date, the number of shares of Common Stock Shares with respect to which options Options are to be exercised may exceed (i) the number of shares of Common Stock Shares that were available for sale under the Plan on the Enrollment Date of the applicable Offering Period, or Period (notwithstanding any authorization of additional Shares for issuance under the Plan by the Company's stockholders subsequent to such Enrollment Date); (ii) the number of shares of Common Stock Shares available for sale under the Plan on such Exercise Date; or (iii) the number of Shares available for sale on such Exercise Date, the Administrator may in its sole discretion (x) Committee shall provide that the Company will (or its designated third-party stock plan administrator) shall make a pro rata allocation of the shares of Common Stock Shares available for purchase on such Enrollment Date or Exercise Date, as applicable, in as uniform a manner as will shall be practicable and as it will shall determine in its sole discretion to be equitable among all Participants exercising options Options to purchase Common Stock Shares on such Exercise Date, and shall decide, in its 6 sole discretion, to either (x) continue all Offering Periods then in effect or (y) provide that the Company will make a pro rata allocation of the shares available for purchase on such Enrollment Date or Exercise Date, as applicable, in as uniform a manner as will be practicable and as it will determine in its sole discretion to be equitable among all participants exercising options to purchase Common Stock on such Exercise Date, and terminate any or all Offering Periods then in effect pursuant to Section 20 The Company may make of the Plan. In the event of such a pro rata allocation of the shares available on the Enrollment Date of any applicable Offering Period Shares pursuant to this Section 8(b), the preceding sentence, notwithstanding balance of the amount credited to the account of each Participant that has not been applied to the purchase of Shares shall be paid to each such Participant in one lump sum in cash as soon as reasonably practicable after the Exercise Date, without any authorization of additional shares for issuance under the Plan by the Company's stockholders subsequent to such Enrollment Date. interest thereon. View More
Exercise of Option. (a) (a). Unless a Participant withdraws from the Plan as provided in Section 10, his 10 hereof or her otherwise becomes ineligible to participate in the Plan, the Participant's option for the purchase of shares of Common Stock will with respect to an Offering Period shall be exercised automatically on the Exercise Purchase Date, and the maximum number of full whole shares subject of Common Stock that may be purchased pursuant to the option will Section 7 hereof shall be purchased for such Partic...ipant at the applicable Purchase Price with the accumulated Contributions from his or her account. payroll deductions previously credited to the Participant's account during the applicable Purchase Period. No fractional shares of Common Stock will shall be purchased; any Contributions payroll deductions accumulated in a Participant's account, account which are not sufficient to purchase a full whole share will of Common Stock shall be retained in the Participant's account for the subsequent Purchase Period or Offering Period, subject to earlier withdrawal by the Participant Period. Except as provided in Section 10. Any other funds left over in the previous sentence with respect to fractional shares, payroll deductions previously credited to a Participant's account after during a Purchase Period but not applied to the Exercise Date will purchase of shares of Common Stock by reason of the limitations set forth in Section 7 hereof or for any other reason shall be returned to the Participant. During a Participant's lifetime, a Participant's option to purchase shares hereunder is exercisable only by him or her. (b) Participant, without interest thereon, as soon as administratively practicable after the applicable Purchase Date. (b). If the Administrator determines that, on a given Exercise Purchase Date, the number of shares of Common Stock with respect to which options are to be exercised may exceed (i) the number of shares of Common Stock that were available for sale issuance under the Plan on the Enrollment Date of the applicable Offering Period, or (ii) the number of shares of Common Stock that will be available for sale issuance under the Plan on such Exercise Purchase Date, the Administrator may in its sole discretion (x) provide that the Company will shall make a pro rata allocation of the shares of Common Stock available for purchase on such Enrollment Date or Exercise Purchase Date, as applicable, in as uniform a manner as will shall be practicable and as it will shall determine in its sole discretion to be equitable among all Participants exercising options to purchase Common Stock on such Exercise Purchase Date, and continue all Offering Periods then in effect effect, or (y) provide that the Company will shall make a pro rata allocation of the shares available for purchase on such Enrollment Date or Exercise Purchase Date, as applicable, in as uniform a manner as will shall be practicable and as it will shall determine in its sole discretion to be equitable among all participants Participants exercising options to purchase Common Stock on such Exercise Purchase Date, and terminate any or all Offering Periods then in effect pursuant to Section 20. 18 hereof. The Company may make a pro rata allocation of the shares of Common Stock available on the Enrollment Date of any applicable Offering Period pursuant to the preceding sentence, notwithstanding any authorization of additional shares for issuance under the Plan by the Company's stockholders subsequent to such Enrollment Date. The balance of the amount of payroll deductions previously credited to the account of each Participant which has not been applied to the purchase of shares of Common Stock shall be returned to such Participant, without interest thereon, as soon as reasonably practicable after the Purchase Date. 5 9. Deposit of Shares. As promptly as practicable after each Purchase Date on which a purchase of shares occurs, the Company may arrange for the deposit, into each Participant's account with any broker designated by the Company to administer this Plan, of the number of shares of Common Stock purchased upon exercise of his or her option. View More
Exercise of Option. (a) Unless a Participant participant withdraws from the Plan as provided in Section 10, 10 hereof or otherwise becomes ineligible to participate in the Plan, his or her option for the purchase of shares of Common Stock will shall be exercised automatically on the Exercise Date, and the maximum number of full shares subject to the option will shall be purchased for such Participant participant at the applicable Purchase Price with the accumulated Contributions from payroll deductions in his or he...r account. No fractional shares of Common Stock will shall be purchased; any Contributions payroll deductions accumulated in a Participant's account, participant's account which are not sufficient to purchase a full share will shall be retained in the Participant's participant's account for the subsequent Purchase Period or Offering Period, subject to earlier withdrawal by the Participant as provided in Section 10. Any other funds left over in a Participant's account after the Exercise Date will be returned to the Participant. Period. During a Participant's participant's lifetime, a Participant's participant's option to purchase shares hereunder is exercisable only by him or her. (b) If the Administrator determines that, on a given Exercise Date, the number of shares of Common Stock with respect to which options are to be exercised may exceed (i) the number of shares of Common Stock that were available for sale under the Plan on the Enrollment Date of the applicable Offering Period, or (ii) the number of shares of Common Stock available for sale under the Plan on such Exercise Date, the Administrator may in its sole discretion (x) provide that the Company will shall make a pro rata allocation of the shares of Common Stock available for purchase on such Enrollment Date or Exercise Date, as applicable, in as uniform a manner as will shall be practicable and as it will shall determine in its sole discretion to be equitable among all Participants participants exercising options to purchase Common Stock on such Exercise Date, and continue all Offering Periods then in effect effect, or (y) provide that the Company will shall make a pro rata allocation of the shares available for purchase on such Enrollment Date or Exercise Date, as applicable, in as uniform a manner as will shall be practicable and as it will shall determine in its sole discretion to be equitable among all participants exercising options to purchase Common Stock on such Exercise Date, and terminate any or all Offering Periods then in effect pursuant to Section 20 hereof. The Company may make a pro rata allocation of the shares available on the Enrollment Date of any applicable Offering Period pursuant to the preceding sentence, notwithstanding any authorization of additional shares for issuance under the Plan by the Company's stockholders subsequent to such Enrollment Date. The balance of the amount credited to the account of each participant which has not been applied to the purchase of shares of stock shall be paid to such participant in one lump sum in cash as soon as reasonably practicable after the Exercise Date, without any interest thereon. View More
Exercise of Option. (a) Unless a Participant withdraws from the Plan as provided in Section 10, his or her option for the purchase of shares of Common Stock will shall be exercised automatically on the Exercise Date, and the maximum number of full shares subject to the option will shall be purchased for such Participant at the applicable Purchase Price with the accumulated Contributions from payroll deductions in his or her account. No fractional shares of Common Stock will shall be purchased; any Contributions pay...roll deductions accumulated in a Participant's account, account which are not sufficient to purchase a full share will shall be retained in the Participant's account for the subsequent Purchase Period or Offering Period, subject to earlier withdrawal by the Participant as provided in Section 10. Any other funds monies left over in a Participant's account after the Exercise Date will shall be returned to the Participant. During a Participant's lifetime, a Participant's option to purchase shares hereunder is options are exercisable only by him or her. 5 (b) If the Administrator Board determines that, on a given Exercise Date, the number of shares of Common Stock with respect to which options are to be exercised may exceed (i) the number of shares of Common Stock that were available for sale under the Plan on the Enrollment Date of the applicable Offering Period, or (ii) the number of shares of Common Stock available for sale under the Plan on such Exercise Date, the Administrator Board may in its sole discretion (x) provide that the Company will shall make a pro rata allocation of the shares of Common Stock available for purchase on such Enrollment Date or Exercise Date, as applicable, in as uniform a manner as will shall be practicable and as it will shall determine in its sole discretion to be equitable among all Participants exercising options to purchase Common Stock on such Exercise Date, and continue all Offering Periods then in effect effect, or (y) provide that the Company will shall make a pro rata allocation of the shares available for purchase on such Enrollment Date or Exercise Date, as applicable, in as uniform a manner as will shall be practicable and as it will shall determine in its sole discretion to be equitable among all participants Participants exercising options to purchase Common Stock on such Exercise Date, and terminate any or all Offering Periods then in effect pursuant to Section 20 hereof. The Company may make a pro rata allocation of the shares available on the Enrollment Date of any applicable Offering Period pursuant to the preceding sentence, notwithstanding any authorization of additional shares for issuance under the Plan by the Company's stockholders subsequent to such Enrollment Date. The balance of the amount credited to the account of each Participant which has not been applied to the purchase of shares of Common Stock shall be paid to such Participant in one lump sum in cash as soon as reasonably practicable after the Exercise Date, without any interest thereon. View More
Exercise of Option. (a) Unless a Participant withdraws from the Plan as provided in Section 10, his or her option for the purchase of shares of Common Stock will be exercised automatically on the Exercise Date, and the maximum number of full shares subject to the option will be purchased for such Participant at the applicable Purchase Price with the accumulated Contributions from payroll deductions in his or her account. No fractional shares of Common Stock will be purchased; any Contributions payroll deductions ac...cumulated in a Participant's account, which are not sufficient to purchase a full share will be retained in returned to the Participant's account for the subsequent Purchase Period or Offering Period, subject to earlier withdrawal by the Participant as provided in Section 10. Participant. Any other funds left over in a Participant's account after the Exercise Date will be returned to the Participant. During a Participant's lifetime, a Participant's option to purchase shares hereunder is exercisable only by him or her. (b) If the Administrator determines that, on a given Exercise Date, the number of shares of Common Stock with respect to which options are to be exercised may exceed (i) the number of shares of Common Stock that were available for sale under the Plan on the Enrollment Offering Date of the applicable Offering Period, or (ii) the number of shares of Common Stock available for sale under the Plan on such Exercise Date, the Administrator may in its sole discretion (x) provide that the Company will make a pro rata allocation of the shares of Common Stock available for purchase on such Enrollment Offering Date or Exercise Date, as applicable, in as uniform a manner as will be practicable and as it will determine in its sole discretion to be equitable among all Participants exercising options to purchase Common Stock on such Exercise Date, and continue all Offering Periods then in effect or (y) provide that the Company will make a pro rata allocation of the shares available for purchase on such Enrollment Date or Exercise Date, as applicable, in as uniform a manner as will be practicable and as it will determine in its sole discretion to be equitable among all participants exercising options to purchase Common Stock on such Exercise Date, and terminate any or all Offering Periods then in effect pursuant to Section 20. The Company may make a pro rata allocation of the shares available on the Enrollment Offering Date of any applicable Offering Period pursuant to the preceding sentence, notwithstanding any authorization of additional shares for issuance under the Plan by the Company's stockholders subsequent to such Enrollment Offering Date. View More
