Effect on Options. At the Effective Time, by virtue of the Merger and without any further action on the part of Purchaser, Merger Sub or the Target or any holder of any capital stock of Purchaser, Merger Sub, or the Target, each Target Option outstanding immediately prior to the Effective Time, whether vested or unvested, shall be terminated and cancelled for no consideration.
Appears in 2 contracts
Sources: Agreement and Plan of Merger (Helbiz, Inc.), Merger Agreement (Helbiz, Inc.)