Reload Option
An employee stock option that grants additional options upon exercise of the original.
Investopedia Commentary
The employee satisfies the exercise price of their current option with shares rather than cash. The reload option will have the same expiry date as the original option, however, the strike price will be equal to the share price at the time the original option is exercised.
Also known as restoration option.
See also: Early Exercise, Employee Stock Ownership Plan - ESOP, Evergreen Option, Exercise, Option, Strike Price