Exchange of Options. 4.3.1 In the event that a Sale takes place, the Executive may at any time within six months of the Sale by agreement with the Acquiring Company release his rights under the Option (in this Clause referred to as “the old rights”) in consideration for the grant to him of rights (in this Clause referred to as “the new rights”) which are equivalent to the old rights but relate to shares in a different company.
Exchange of Options. Prior to the Effective Time, OCG shall cause PSI to offer, as of the Record Date, to each holder on such date of options, warrants or other rights to subscribe for or purchase OCG Common Stock (collectively, the "OCG Stock Rights"), in exchange therefor, an option, warrant or similar right to subscribe for or purchase an equivalent number of shares of stock of PSI on substantially the same terms and conditions as those contained in such corresponding OCG Stock Rights (the "Exchange Offer"). The Exchange Offer shall occur as of, and shall be conditioned upon, the Closing (as defined in Section 3.6).
Exchange of Options. This certificate evidences the agreement between the Company and the undersigned Employee on the New Grant Date to cancel Tranche 3 of the Options granted to the Employee under the Original Agreement, in exchange for the New Tranche 3 Options (defined below) granted as of the New Grant Date to the Employee to purchase (the “Option”), in whole or in part, on the terms provided herein and in the Plan, the following Units as set forth below.
Exchange of Options. 5.3.1 In the event that a Sale takes place, the Subscriber may at any time within six months of the Sale by agreement with the Acquiring Company release his rights under the Option (in this clause referred to as “the old rights”) in consideration for the grant to him of rights (in this clause referred to as “the new rights”) which are equivalent to the old rights but relate to shares in a different company.
Exchange of Options. We do not believe that there will be a tax liability solely as a result of your tender of Eligible Options or Required Options for replacement with New Options. We do not believe that you will be subject to tax when the New Options are granted to you under the 2000 Plan.
Exchange of Options. (a) Pursuant to the Plan of Arrangement, at the Effective Time, each Original Option will ultimately be exchanged for an Exchange Option, and thereafter the Original Options will be cancelled.
Exchange of Options. Promptly after the Effective Date, ITEQ will notify in writing each holder of an AIX Option of the exchange of the AIX Option for an option to purchase ITEQ Common Stock in accordance with Section 1.10 hereof.
Exchange of Options. Upon delivery of the Securityholder’s Options to the Company (or, if appropriate, the Affidavit(s)) together with an executed copy of this Agreement, subject to the Company’s acceptance thereof, the Options owned by Securityholder will be deemed converted automatically into the right to receive that number of Shares determined according to the Exchange Ratio.
Exchange of Options. As soon as practicable following the date of this Agreement, Xxxxxx and Total (or, if appropriate, the Total Board or any committee of the Total Board administering the Stock Option Plan) shall take such action as may be required or desirable, and shall obtain all applicable consents, to effect the following provisions of this Section 3.3. As of the Effective Time, each Stock Option which is then outstanding shall be fully vested, and each such outstanding Stock Option shall be converted into an option (or a new substitute option shall be granted) (an "Assumed Stock Option") to purchase the number of shares of Xxxxxx common stock (rounded up to the nearest whole share) equal to (i) the number of shares of Total common stock subject to such option multiplied by (ii) the Exchange Ratio, at an exercise price per share of Xxxxxx common stock (rounded down to the nearest xxxxx) equal to (A) the former exercise price per share of Total common stock under such option immediately prior to the Effective Time divided by (B) the Exchange Ratio; provided, however, that in the case of any Stock Option described in Section 422 of the Code, the conversion formula shall be adjusted, if necessary, to comply with Section 424(a) of the Code. Except as provided above or as may be provided in the agreement evidencing the grant of a Stock Option (including any amendments thereto), each Assumed Stock Option shall be subject to the same terms and conditions (including expiration date and exercise provisions) as were applicable to the corresponding Stock Option immediately prior to the Effective Time; provided, that Total and Xxxxxx shall each take all necessary action so that the Xxxxxx Board or a committee thereof shall succeed to the authority and responsibility of the Total Board or any committee thereof.
Exchange of Options. 6.1 The Acquiring Company If any company (the “Acquiring Company”):
