Option

Option. An unexercised option to purchase a number of Shares but taking into account only those Options with respect to which the Participant has been designated to participate in this Plan.

Option. Option means an Incentive Stock Option or Nonstatutory Stock Option granted pursuant to the Plan. 4

Option. Means the right to purchase, at the price and for the term fixed by the Administrator in accordance with the Plan, and subject to such other limitations and restrictions in the Plan and the applicable Grant Letter, a number of Shares determined by the Administrator.

Option. The undersigned, Susan McGrogan ("McGrogan"), hereby expresses McGrogan's intent to exercise an option (the "Option") to purchase shares of the Common Stock, par value $0.05 per share, of Transcend Services, Inc. (the "Company") granted to McGrogan by the Company pursuant to that certain Option Agreement to Purchase Stock dated as of August 15, 2005 and amended pursuant to that certain First Amendment to Option Agreement to Purchase Stock dated as of December 15, 2005 by and between McGrogan... and the Company (collectively, the "Option Agreement"), subject to the terms and conditions contained therein. View More

Option. A stock option to purchase Shares granted under Section 6 and may be either an Incentive Stock Option or a Non-Qualified Stock Option.

Option. Shall mean a stock option to purchase Common Stock granted to a Participant pursuant to the Plan.

Option. Shall mean the grant of the right to a Service Provider pursuant to the Plan to purchase a specified number of Shares at a specified exercise price.

Option. Means an option to purchase Stock, including Restricted Stock but not Deferred Stock, if the Committee so determines, subject to the applicable provisions of Section 5 and awarded in accordance with the terms of the Plan and which may be an incentive stock option qualified under Section 422 of the Code or a nonqualified stock option.

Option. Means any option and related stock appreciation right, if any, granted to a Participant pursuant to any Stock Option Plan, other than the Excluded Replacement Options.

Option. Means a right granted to a Participant under Section 6(b) hereof, to purchase Stock or other Awards at a specified price during specified time periods. 4 (bb) "Optionee" means a person to whom an Option or Incentive Stock Option is granted under this Plan or any person who succeeds to the rights of such person under this Plan.