Definition of Active Option Contract

Contingent option agreement

In the event of any conflict between the provisions of the Plan and the provisions of this Agreement, the provisions of the Plan shall be controlling.

Active Option Contract (Here's what it means for you)

The Company has provided you with a copy of the Plan and a prospectus for the Plan. Capitalized terms not otherwise defined in this Agreement, including Exhibit A attached hereto, will have the meanings ascribed to them in the Plan. If such shareholder approval is not obtained at the annual meeting of shareholders, then the number of securities underlying the third tranche set forth above shall be reduced fromshares to 70, shares.

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In order to receive the Cash Payment, you must deliver a Notice of Exercise in a form designated by the Company to the Secretary of the Company, or to such other person as the Company may designate, during regular business hours, together with such additional documents as the Company may then require. Upon exercise of the Option, you must pay in the form of a check or cash or other cash equivalents to the Company any such additional amount as the Company determines that it is required to withhold under applicable laws in respect of such exercise.

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The Board may, contingent option agreement its discretion, accelerate the vesting schedule in which case it may impose whatever conditions it considers appropriate on the accelerated portion. Notwithstanding the foregoing, if the Board elects to provide that the Option does not vest in connection with a Change in Control and your Continuous Service is terminated for any reason within one year following such Change in Control, then the entire assumed or substituted option shall vest and become exercisable immediately upon such termination of your Continuous Service.

Term and Termination. Cancellation, Contingent option agreement and Rescission.

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  3. Active Option Contract (Here's what it means for you)

The Company shall notify you in writing of any such rescission within two years of any such exercise. Optionee 6. Nature of Grant. Electronic Delivery.

The Company may, in its sole discretion, decide to deliver any documents related to the Option granted under and participation in the Plan or future options that may be granted under the Plan by electronic means or to request your consent to participate in the Plan by electronic means. You hereby consent to receive such documents by electronic delivery and, if requested, to agree to participate in the Plan through an on-line or electronic system established and maintained by the Company or another third party designated by the Company.

Taxable Event.

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You acknowledge that the issuance of the Option shares or cash in lieu of shares will have significant tax consequences to you and you are hereby advised to consult with your own tax advisors concerning such tax consequences.

A general description of the U. This Agreement may be amended only by a writing executed by the Company and you which specifically states that it is amending this Agreement.

Some of these status terms mean that you can still buy the house. Unfortunately, other terms mean the house is no longer available. By the way, these terms come from the MLS Multiple Listing Service which is the platform used to display these listings.

Notwithstanding the foregoing, this Agreement may be amended solely by the Board by the option holder is liable writing which specifically states that it is amending this Agreement, so long as a copy of such amendment is delivered to you, and provided that no such amendment adversely affecting your rights hereunder may be made without your written consent.

Without limiting the foregoing, the Board reserves the right to change, by written notice to you, the provisions of this Agreement in any way it may deem necessary or advisable contingent option agreement carry out the purpose of the grant as a result of any change in applicable laws or regulations or any future law, regulation, ruling, or judicial decision, provided that any such change will be applicable only to rights relating to that portion of the Option which is then subject to restrictions as provided herein.

The provisions of this Agreement shall be deemed to be severable contingent option agreement the invalidity or contingent option agreement of any provision shall not affect the validity or enforceability of the other provisions hereof.

Real Estate Glossary

If any contingent option agreement of this Agreement, or the application thereof to any person or any circumstance, is held to be invalid or unenforceable under present or future laws effective during the term of this Agreement, such provision shall be fully severed, and in lieu thereof there shall automatically be added as part of this Agreement a suitable and equitable provision in order to carry out, so far as may be valid and enforceable, the intent and purpose of such invalid or unenforceable provision.

Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of Delaware and applicable federal law.

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Irrevocable Arbitration of Disputes. Any court action involving a dispute which is not subject to arbitration shall be stayed pending arbitration of arbitrable disputes.

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You and the Company further agree that each has the right, pursuant to California Code of Civil Procedure section The arbitration shall be conducted in San Diego by a former or retired judge or attorney with at least 10 years experience in employment-related disputes, or a non-attorney with like experience in the area of dispute, who shall have the power to hear motions, control online income reviews, conduct hearings and otherwise do all that is necessary to resolve the matter.

The parties must mutually agree on the arbitrator. If the parties cannot agree on the arbitrator after their best efforts, an arbitrator will be selected from JAMS pursuant to its Employment Arbitration Rules and Procedures. The arbitrator shall have the authority to award damages, if any, to the extent that they are available under applicable law s.

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The arbitration award shall be final and binding, and may be entered as a judgment in any court having competent jurisdiction. Either party may seek review pursuant to California Code of Civil Procedure sectionet seq.

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In particular, the parties expect that the arbitrator will limit discovery by controlling the amount of discovery that may be taken e.

Optionee Data Privacy.

3 Questions to Ask Before Signing an Active Option Contract

You hereby explicitly and unambiguously consent to the collection, use and transfer, in electronic or other form, of your personal data as described in this document by and among, as applicable, your employer, and the Company and its subsidiaries and affiliates for the exclusive purpose of implementing, administering and managing your participation in the Plan.

You understand that you may request a list with the names and addresses of any potential recipients of the Data by contacting your local human resources representative. You authorize the recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purpose of implementing, administering and managing your participation in the Plan, including any requisite transfer of such Data as may be required to a broker or other third party with whom you may elect to deposit any shares of stock acquired upon exercise of the Option.

You understand that Data will be held only as long as is necessary to implement, administer and manage your participation in the Plan. You understand that you may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw contingent option agreement consents herein, without cost, by contacting in writing your local human resources representative.

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You 7. For more information on the consequences of your refusal to consent or withdrawal of consent, you understand that you may contact your local human resources representative.