Common use of Sale or Merger Clause in Contracts

Sale or Merger. All options granted to Employee pursuant to this Agreement will become fully exercisable if Employer is sold (or all or substantially all of the assets of Employer are sold) (by stock sale, merger or otherwise) to a third party.

Sale or Merger. All options granted to Employee pursuant -------------- to this Agreement will become fully exercisable if a majority of the Employer is sold (or all or substantially all of the assets of Employer are sold) (by stock sale, merger or otherwise) to a third party.