Modification, Extension, and Renewal of Options. Within the limitations of the Plan, the Board may at its discretion modify, extend or renew any outstanding Option or accept the cancellation of an outstanding Option for the granting of a new Option in substitution. Notwithstanding the preceding sentence, no modification of an Option shall, without the consent of the Participant, alter or impair any rights or obligations under any Option previously granted.
Modification, Extension,Extension and Renewal of Options. WithinSubject to the limitationsterms and conditions of the Plan, the BoardCommittee may at its discretion modify, extend or renew any outstanding Optionoptions granted under the Plan, or accept the cancellationsurrender of an outstanding Option foroptions (to the extent not exercised) and authorize the granting of a new Optionoptions in substitution. Notwithstanding the preceding sentence, no modification of an Option shall, without the consent of the Participant, alter or impair any rights or obligations under any Option previously granted.substitution therefor.
Modification, Extension,Extension and Renewal of Options.Option. Within the limitations of the Plan, and only with respect to Options granted to Eligible Persons, the BoardCommittee may at its discretionmodify, extend or renew outstanding Options or accept the cancellation of outstanding Options (to the extent not previously exercised) for the granting of new Options in substitution therefor (but not including repricings, in the absence of stockholder approval). The Committee may modify, extend or renew any outstanding Option granted to any Eligible Person, unless such modification, extension or acceptrenewal would not satisfy any applicable requirements of Rule 16b-3 under the cancellationExchange Act and Section 409A of an outstanding Option for the granting of a new Option in substitution. Notwithstanding the preceding sentence,Code. The foregoing notwithstanding, no modification of an Option shall, without the consent of the Participant,Optionee, alter or impair any rights or obligations under any Option previously granted.
Modification, Extension,Extension and Renewal of Options. Within the limitations of the Plan, including the Boardlimitations of Section 3(e), the Committee may at its discretion modify, extend or renew any outstanding OptionOptions or may accept the cancellation of an outstanding OptionOptions (to the extent not previously exercised), whether or not granted hereunder, in return for the grantinggrant of new Options for the same or a different number of Shares and at the same or a different Exercise Price, or in return for the grant of a new Option in substitution. Notwithstandingdifferent Award for the preceding sentence,same or a different number of Shares, without stockholder approval. The foregoing notwithstanding, no modification of an Option shall, without the consent of the Participant, alter ormaterially impair anysuch Participant’s rights or obligations under such Option; provided, however, that an amendment or modification that may cause an ISO to become an NSO, and any Option previously granted.amendment or modification that is required to comply with the rules applicable to ISOs, shall not be treated as materially impairing the rights or obligations of the Participant.
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