Common use of Parent Options Clause in Contracts

Parent Options. Upon the Effective Date of the Merger, the Surviving Corporation shall assume and continue Parent's 1997 Stock Incentive Plan and all other employee benefit plans of Parent. A number of shares of the Surviving Corporation's Common Stock shall be reserved for issuance upon the exercise of stock options, equal to the number of shares of Parent's Common Stock so reserved immediately before the Effective Date of the Merger.