Option Cancellation. As consideration for the Cancellation Payment set forth in Section 3, Employee acknowledges and agrees that all of Employee’s right, title and interest in and to any and all outstanding options to acquire Common Stock of the Company granted pursuant to the Plan and the Option Agreement (the “Cancelled Options”) are hereby canceled, forfeited and surrendered to the Company effective as of the date hereof (the “Cancellation Date”). Without limiting the generality of the foregoing, effective as of the date hereof, any and all rights of Employee, and any and all liabilities of the Company, with respect to the Cancelled Options (whether under or pursuant to the Option Plan, the Option Agreement, or otherwise) shall terminate in all respects.
Option Cancellation. The Option is hereby canceled and the Option Agreement is hereby terminated. The Employee Stockowner hereby acknowledges that he has no further rights, and TCI.NET has no further obligations, thereunder.
Option Cancellation. CFAC shall have received satisfactory evidence that all Mission Options outstanding prior to the Effective Time and the Mission Option Plan have been canceled and terminated pursuant to a written cancellation agreement on terms and conditions satisfactory to CFAC.
Option Cancellation. In accordance with Section 11 of the Option Agreement, effective as of the date hereof, the June 2018 Option is hereby cancelled for no consideration and the Option Agreement is hereby terminated. Notwithstanding anything to the contrary in the Option Agreement or otherwise, the Optionee hereby agrees and acknowledges that effective as of the date hereof, the Optionee shall have no rights or entitlements in respect of or otherwise relating to the June 2018 Option.
Option Cancellation. The Sellers and the Buyer hereby agree to amend the June 6th Agreements to cancel the Options. For clarity, no Common Stock retained by any Seller hereunder shall remain subject to the Options. The June 6th Agreements shall otherwise remain in full force and effect.
Option Cancellation. In consideration of the Company's promise to pay the Purchase Price in accordance with the terms herein, Officer and the Company hereby agree that the Options shall be cancelled as of the date hereof and that from and after the date hereof, the Options and any pre-existing agreement between the Company and Officer evidencing the Options shall no longer be of any force or effect.
Option Cancellation. All Options outstanding immediately prior to the Effective Time shall be cancelled by the execution and delivery by the holder thereof of an OCA, pursuant to which the Company shall be released from any liabilities or continuing obligations relating thereto.
Option Cancellation. All options, warrants or similar rights to purchase equity securities of the Company shall have been cancelled and/or cashed out and any and all Company option plans shall have been terminated.