Common use of Options Sars Clause in Contracts

Options Sars. Upon the occurrence of a Change of Control pursuant to which the Company is not the survivor (or survives only as a subsidiary of another entity), the surviving corporation shall issue to the Executive options and tandem stock appreciation rights ("SARs"), if applicable, in substitution or replacement of all outstanding options or SARs previously issued pursuant to a Company stock option plan or the Company's Stock Appreciation Rights Plan, respectively, any such options and SARs to have terms and conditions similar to the terms of any such original options and SARs.

Options Sars. Upon the occurrence of a Change of Control pursuant to which the Company is not the survivor (or survives only as a subsidiary of another entity), the surviving corporation shall issue to the Executive options and tandem stock appreciation rights ("SARs"), if applicable, in substitution or replacement of all outstanding options or SARs previously issued pursuant to a Company stock option plan or the Company's Stock Appreciation Rights Plan, respectively, any such options and SARs to have terms and conditions similar to the terms of any such original options and SARs.all