This excerpt taken from the VRSN 8-K filed Jan 4, 2007.
OPTIONS ELECTION FORM
Before signing this election form, please make sure you have received, read and understand the terms of the Options Election (the Options Election) and this Options Election Form. The Options Election is subject to the terms of these documents as they may be amended. The Options Election provides certain employees who hold eligible stock options the opportunity to adjust the exercise price of certain outstanding options as described in the Options Election. The Options Election shall not be deemed to ratify any purportedly unauthorized stock options. This Options Election expires at 5:00 p.m., Pacific Time, on December 31, 2006 unless extended.
PLEASE FOLLOW THE INSTRUCTIONS ATTACHED TO THIS FORM.
If elect you participate in this Options Election, you must accept the Options Election with respect to all of the outstanding eligible options grant granted to you by VeriSign, Inc. (the Company). Vesting of any unvested options is subject to your continued employment with the Company through each relevant vesting date.
An eligible option is an option granted by VeriSign to you that meets all of the following conditions:
Eligible options also include any options which are later determined to have been granted at an exercise price less than fair market value as of the date of grant. Eligible options will not include any options that are later determined not to have been granted at an exercise price less than fair market value as of the date of grant.