Option Termination Agreements Sample Clauses
An Option Termination Agreement clause defines the terms under which an existing option—such as a right to purchase, lease, or invest—can be ended before its natural expiration. This clause typically outlines the conditions, procedures, and any compensation or notice requirements for terminating the option, ensuring both parties understand their rights and obligations if the option is to be cancelled. Its core function is to provide a clear and mutually agreed-upon process for ending option rights, thereby reducing uncertainty and potential disputes over how and when an option can be terminated.
Option Termination Agreements. The Company shall have delivered a fully executed option termination agreement in form reasonably satisfactory to the Parent and Merger Corp, evidencing the termination and cancelation of all outstanding options under the Company Stock Plans as of immediately prior to the Effective Time.
Option Termination Agreements. The Company shall use commercially reasonable efforts to cause each holder of Employee Options to deliver an Option Termination Agreement to the Company prior to the Closing Date and shall promptly deliver a copy of any such executed Option Termination Agreement to Parent.
Option Termination Agreements. The term “
Option Termination Agreements. The receipt by the Company of Option Termination Agreements for all outstanding Company Stock Options.
Option Termination Agreements. Each holder of Company Stock Options or Director Stock Options issued and outstanding immediately prior to the Effective Time, which have an exercise price less than the Merger Consideration, will enter into an option termination agreement in form and substance satisfactory to Parent, terminating all Company Stock Options or Director Stock Options held by such holder, subject to the payment of the Company Stock Option Consideration for the options with an exercise price less than the Merger Consideration.
Option Termination Agreements. An Option Termination Agreement duly executed and delivered by each holder of Company Options.
Option Termination Agreements. The Sellers and Company shall have delivered to the Purchaser originals of an Option Termination Agreement in the form of Exhibit E hereto with each Person who held options or other rights to purchase Company securities immediately prior to the Closing (copies of such signed Option Termination Agreements were provided to Purchaser contemporaneous with the execution of this Agreement.).
Option Termination Agreements. Section 6.09(d) Parent...................................................
Option Termination Agreements. Buyer shall have received option ----------------------------- termination agreements (which may be part of an employment letter) from each current employee of the California Subsidiary in form and substance reasonably satisfactory to Buyer, to the effect that such employee releases any rights he or she may have had with respect to options or shares of the Company or the California Subsidiary.