Common use of CHANGE IN CONTROL/HOSTILE TAKE-OVER Clause in Contracts

CHANGE IN CONTROL/HOSTILE TAKE-OVER. (a) All Option Shares subject to this option at the time of a Change in Control but not otherwise vested shall automatically vest so that this option shall, immediately prior to the effective date of such Change in Control, become fully exercisable for all of the Option Shares at the time subject to this option and may be exercised for all or any portion of such shares as fully-vested shares of Common Stock. This option shall remain exercisable for such fully-vested Option Shares until the earliest to occur of (i) the Expiration Date, (ii) the sooner termination of this option in accordance with Paragraph 5 or 6 or (iii) the surrender of the option in connection with a Hostile Take-Over.

Appears in 3 contracts

Samples: Automatic Stock Option Agreement (I2 Technologies Inc), Option Agreement (Conductus Inc), Automatic Stock Option Agreement (Cerplex Group Inc)

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CHANGE IN CONTROL/HOSTILE TAKE-OVER. (a) All Option Shares subject to this option at the time of a Change in Control but not otherwise vested shall automatically vest so that this option shall, immediately prior to the effective date of such Change in Control, become fully exercisable for all of the Option Shares at the time subject to this option and may be exercised for all or any portion of such shares as fully-vested shares of Common Stock. This option shall remain exercisable for such fully-vested Option Shares until the earliest to occur of (i) the specified Expiration Date, (ii) the sooner termination of this option in accordance with Paragraph 5 or 6 or (iii) the surrender of the this option in connection with a Hostile Take-Overunder Paragraph 7(b).

Appears in 3 contracts

Samples: Credit Management Solutions Inc, Calpine Corp, Calpine Corp

CHANGE IN CONTROL/HOSTILE TAKE-OVER. (a) All Option Shares subject to this option at the time of a Change in Control but not otherwise vested shall automatically vest in full so that this option shall, immediately prior to the effective date of such Change in Control, become fully exercisable for all of the Option Shares at the time subject to this option and may be exercised for all or any portion of such shares as fully-vested shares of Common Stock. This option shall remain exercisable for such fully-vested Option Shares until the earliest to occur of (i) the Expiration Date, (ii) the sooner termination of this option in accordance with Paragraph 5 or 6 or (iii) the surrender of the option in connection with a Hostile Take-Over.

Appears in 1 contract

Samples: Automatic Stock Option Agreement (Us Homecare Corp)

CHANGE IN CONTROL/HOSTILE TAKE-OVER. (a) All Option Shares subject to this option at In the time event of a Change in Control effected during Optionee's period of Board service, any Option Shares at the time subject to this option but not otherwise vested shall automatically vest so that this option shall, immediately prior to the effective date of such that Change in Control, become fully exercisable for all of the Option Shares at the time subject to this option as fully vested shares of Common Stock and may be exercised for any or all or any portion of such shares as fully-those vested shares of Common Stockshares. This option shall remain exercisable for such fully-fully vested Option Shares until the earliest to occur of (i) the specified Expiration Date, (ii) the sooner termination of this option in accordance with Paragraph 5 or 6 or (iii) the surrender of the this option in connection with a Hostile Take-Overunder Paragraph 7(b).

Appears in 1 contract

Samples: Automatic Stock Option Agreement (Sharper Image Corp)

CHANGE IN CONTROL/HOSTILE TAKE-OVER. (a) A. All Option Shares subject to this option at the time of a Change in Control but not otherwise vested shall automatically vest so that this option shall, immediately prior to the effective date of such Change in Control, become fully exercisable for any or all of the those Option Shares at the time subject to this option and may be exercised for all or any portion of such shares as fully-vested shares of Common Stock. This option shall remain exercisable for such fully-vested Option Shares until the earliest to occur of (i) the specified Expiration Date, (ii) the sooner termination of this option in accordance with Paragraph 5 or 6 or (iii) the surrender of the this option in connection with a Hostile Take-Over.under Paragraph 7.B.

Appears in 1 contract

Samples: Willis Lease (Willis Lease Finance Corp)

CHANGE IN CONTROL/HOSTILE TAKE-OVER. (a) All Option Shares subject to this option at the time of a Change in Control but not otherwise vested shall automatically vest so that this option shall, immediately prior to the effective date of such Change in Control, become fully exercisable for all of the Option Shares at the time subject to this option as fully-vested shares of Common Stock and may be exercised for all or any portion of such shares as those fully-vested shares of Common Stockshares. This option shall remain exercisable for such fully-vested Option Shares until the earliest to occur of (i) the specified Expiration Date, (ii) the sooner termination of this option in accordance with Paragraph 5 or 6 or (iii) the surrender of the this option in connection with a Hostile Take-Overunder Paragraph 7(b).

Appears in 1 contract

Samples: Corporation Automatic Stock Option Agreement (Spectrumedix Corp)

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CHANGE IN CONTROL/HOSTILE TAKE-OVER. (a) All Option Shares subject to this option at the time of a Change in Control but not otherwise vested shall automatically vest so that this option shall, immediately prior to the effective date of such Change in Control, become fully exercisable for all of the Option Shares at the time subject to this option as fully-vested shares of Common Stock and may be exercised for all or any portion of such shares as fully-those vested shares of Common StockOption Shares . This option shall remain exercisable for such fully-vested Option Shares until the earliest to occur of (i) the Expiration Date, (ii) the sooner termination of this option in accordance with Paragraph 5 or 6 or (iii) the surrender of the option in connection with a Hostile Take-Over.

Appears in 1 contract

Samples: Automatic Stock Option Agreement (Act Networks Inc)

CHANGE IN CONTROL/HOSTILE TAKE-OVER. (a) All Option Shares subject to this option at In the time event of a Change in Control Control, the option, to the extent outstanding but not otherwise vested fully exercisable, shall automatically vest accelerate so that this the option shall, immediately prior to the effective date of such Change in Control, become fully exercisable for all of the Option Shares at the time subject to this the option and may be exercised for any or all or any portion of such shares the Shares as fully-vested shares of Common Stock. This The option shall remain exercisable for such fully-vested Option Shares until the earliest to occur of (i) the Expiration Date, (ii) the sooner earlier termination of this the option in accordance with Paragraph Sections 5 or 6 of this Agreement or (iii) the surrender of the option in connection with a Hostile Take-Over.

Appears in 1 contract

Samples: Automatic Stock Option Agreement (Westaff Inc)

CHANGE IN CONTROL/HOSTILE TAKE-OVER. (a) All Option Shares subject to this option at In the time event of a Change in Control effected during Optionee’s period of Board service, any Option Shares at the time subject to this option but not otherwise vested shall automatically vest so that this option shall, immediately prior to the effective date of such that Change in Control, become fully exercisable for all of the Option Shares at the time subject to this option as fully vested shares of Common Stock and may be exercised for any or all or any portion of such shares as fully-those vested shares of Common Stockshares. This option shall remain exercisable for such fully-fully vested Option Shares until the earliest to occur of (i) the specified Expiration Date, (ii) the sooner termination of this option in accordance with Paragraph 5 or 6 or (iii) the surrender of the this option in connection with a Hostile Take-Overunder Paragraph 7(b).

Appears in 1 contract

Samples: Automatic Stock Option Agreement (Stec, Inc.)

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