Board Action Relating to Stock Option Plans. As soon as practicable following the date of this Agreement, the Board of Directors of the Company (or, if appropriate, any committee administering a Company Stock Option Plan) shall adopt such resolutions or take such actions as may be required to adjust the terms of all outstanding Company Stock Options or accelerate vesting of options granted under the TARSOP, the Director Plan or the 1997 Plan in accordance with Section 3.2 and shall make such other changes to the Company Stock Option Plans and the ESPP as Parent deems appropriate to give effect to the Merger, and to terminate such plans as of the Effective Time. Promptly following the termination of the ESPP, the Company or the Surviving Corporation, as the case may be, shall refund to each participant in the ESPP in cash the amount of payroll deductions, if any, then credited to such participant's account under the ESPP in accordance with the provisions of Section 19 of the ESPP.
Appears in 4 contracts
Samples: Agreement and Plan of Merger (Ne Restaurant Co Inc), Agreement and Plan of Merger (Bertuccis Inc), Agreement and Plan of Merger (Bertuccis of White Marsh Inc)
