Buyout provisions clause samples

Buyout Provisions. The Committee may at any time (a) offer to buy out for a payment in cash or cash equivalents an Option previously granted or (b) authorize an Optionee to elect to cash out an Option previously granted, in either case at such time and based upon such terms and conditions as the Committee shall establish.

(c)Buyout Provisions. The Administrator may at any time offer to buy out for a payment in cash or Shares an Option previously granted under the Plan based on such terms and conditions as the Administrator shall establish and communicate to the Optionee at the time that such offer is made.

(c) Buyout Provisions. This section is not applicable for Awards made further to the present Sub-Plan.

11.5 Buyout Provisions. The Board may at any time (a)offer to buy out for a payment in cash or cash equivalents an Award previously granted, or (b)authorize a Participant to elect to cash out an Award previously granted, in either case at such time and based upon such terms and conditions as the Board shall establish. SECTION 12. REPURCHASE RIGHTS AND TRANSFER RESTRICTIONS.

11.5 Buyout Provisions. The Board may at any time (a) offer to buy out for a payment in cash or cash equivalents an Award previously granted, or (b) authorize a Participant to elect to cash out an Award previously granted, in either case at such time and based upon such terms and conditions as the Board shall establish.