RELEASE OF SURVIVING TRUST. At the Closing, each of (i) Xxxxxxx X. Xxxxxxx, (ii) Xxxxxx Xxxxxxxxx, and (iii) each of the other Key Executives set forth in Exhibit "J" who have agreed to the conversion of their options to purchase Wellsford Common Shares into options to purchase common shares of Newco, shall release the Surviving Trust from any obligations of Wellsford to him under options to purchase Wellsford Common Shares which are exchanged for or converted into options to purchase common shares of Newco.
Appears in 4 contracts
Samples: Agreement and Plan of Merger (Wellsford Residential Property Trust), Tax Sharing Agreement (Equity Residential Properties Trust), Tax Sharing Agreement (Equity Residential Properties Trust)
