Horizon Enterprise Management Incentive Share Option Scheme Sample Clauses

Horizon Enterprise Management Incentive Share Option Scheme. Horizon and PerkinElmer UK agree that all vested EMI Options and vested Unapproved EMI Options may be exercised and the Horizon Shares issued on exercise of such EMI Options and Unapproved EMI Options will be sold to PerkinElmer UK, and any applicable exercise price will be deducted from the consideration payable to holders of such Horizon Shares and paid to Horizon on the holder's behalf. To the extent that any EMI Options and/or Unapproved EMI Options have not been so exercised, they may be exercised within 6 weeks after the date on which PerkinElmer UK acquires control of Horizon pursuant to the Scheme or, in the event of a Takeover Offer, either within six months after the time when PerkinElmer UK obtains control of Horizon as a result of an event described in rule 10.3 of the EMI Scheme and any conditions to the Takeover Offer are satisfied or within one month after the time when PerkinElmer UK obtains control of Horizon as a result of an event described within rule 10.4 of the EMI Scheme. To the extent any EMI Options and/or Unapproved EMI Options have not been so exercised, they will immediately lapse, and the Horizon Directors shall exercise their discretion to interpret the rules of the EMI Scheme to give effect to such lapse on the basis that PerkinElmer UK will not offer to exchange options and therefore there will be no applicable Rollover Period for the purposes of the EMI Scheme.
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