Eligible Option

Eligible Option. Means any Option to the extent such Option is exercisable at any time with respect to any shares of Pentech Common Stock subject thereto at an exercise price less than $1.40 (whether or not such Option is vested or exercisable at the Effective Time with respect to such shares).

Eligible Option. Shall mean an outstanding Option, held by an Eligible Optionee, which has a remaining term of at least one year.

Eligible Option. A Company stock option that (A) has been granted to Executive prior to the date of the Prior Agreement and (B) is exercised by Executive during the Termination Exercise Period; or, in the event of a Change in Control, that is exercised by Executive within ninety (90) days after the date of the occurrence of the Change in Control; or, in the event of death or disability as described in Section 6 of this Agreement, that is exercised by Executive or an authorized representative of Executive or his... estate, within ninety (90) days after the date Executive's employment terminates by reason of such death or disability. -2- View More