Common use of Alternative Options Clause in Contracts

Alternative Options. Notwithstanding Section 4(c)(i), no ------------------- settlement or other payment shall be made with respect to any Option in the event that the transaction constituting the Take-Along Sale is to be accounted for using the "pooling of interest" method of accounting. In such event, each Option held by the Employee immediately prior to the closing of the Take-Along Sale shall become fully vested immediately prior to the consummation of such transaction and the Employee shall have the right, subject to compliance with all applicable securities laws, to (i) - exercise all of the Options then held by him or (ii) provided such -- opportunity is made available by the Take-Along Buyer, exchange such Options for fully vested options to purchase common stock of the Take-Along Buyer (or the direct or indirect parent of the Take-Along Buyer) having substantially equivalent economic value to the Options being exchanged therefor, as determined by the Board immediately prior to the consummation of the Take-Along Sale. Any Options not exercised or exchanged shall expire upon the consummation of the Take-Along Sale.