Common use of Substitute Options Clause in Contracts

Substitute Options. Notwithstanding the provisions of Section 5.3.2, in the event that the Company or a Subsidiary consummates a transaction described in Section 424(a) of the Code (e.g., the acquisition of property or stock from an unrelated corporation), persons who become Employees or Consultants on account of such transaction may be granted Options in substitution for options granted by their former employer (or parent company or affiliated company of such former employer). If such substitute Options are granted, the Committee consistent with Section 424(a) of the Code, may determine that each such substitute Options shall have an Exercise Price less than one hundred percent (100%) of the Fair Market Value on the Grant Date.

Substitute Options. Notwithstanding the provisions of Section Sections 5.3.1 and 5.3.2, in the event that the Company or a Subsidiary an Affiliate consummates a transaction described in Section 424(a) of the Code (e.g., the acquisition of property or stock from an unrelated corporation), persons who become Employees Employees, Directors or Consultants on account of such transaction may be granted Options in substitution for options granted by their former employer (or parent company or affiliated company of such former employer). If such substitute Options are granted, the Committee Committee, in its sole discretion and consistent with Section 424(a) of the Code, may determine that each such substitute Options shall have an Exercise Price exercise price less than one hundred percent (100%) of the Fair Market Value of the Shares on the Grant Date.

Substitute Options. Notwithstanding the provisions of Section 5.3.2, in the event that the Company or a Subsidiary an Affiliate consummates a transaction described in Section 424(a) of the Code (e.g., the acquisition of property or stock from an unrelated corporation), persons who become Employees Employees, Nonemployee Directors or Consultants on account of such transaction may be granted Options in substitution for options granted by their former employer (or parent company or affiliated company of such former employer). If such substitute Options are granted, the Committee Committee, in its sole discretion and consistent with Section 424(a) of the Code, may determine that each such substitute Options shall have an Exercise Price exercise price less than one hundred percent (100%) of the Fair Market Value of the Shares on the Grant Date.

Substitute Options. Notwithstanding the provisions of Section 5.3.2, in the event that the Company or a Subsidiary consummates a transaction described in Section 424(a) of the Code (e.g., the acquisition of property or stock from an unrelated corporation), persons who become Employees Employees, Nonemployee Directors or Consultants on account of such transaction may be granted Options in substitution for options granted by their former employer (or parent company or affiliated company of such former employer). If such substitute Options are granted, the Committee Committee, in its sole discretion and consistent with Section 424(a) of the Code, may determine that each such substitute Options shall have an Exercise Price exercise price less than one hundred percent (100%) of the Fair Market Value of the Shares on the Grant Date.

Substitute Options. Notwithstanding the provisions of Section 5.3.2, in the event that the Company or a Subsidiary consummates a transaction described in Section 424(a) of the Code (e.g., the acquisition of property or stock from an unrelated corporation), persons who become Employees Employees, Directors or Consultants on account of such transaction may be granted Options in substitution for options granted by their former employer (or parent company or affiliated company of such former employer). If such substitute Options are granted, the Committee Administrator, in its sole discretion and consistent with Section 424(a) of the Code, may determine that each such substitute Options shall have an Exercise Price exercise price less than one hundred percent (100%) of the Fair Market Value of the Shares on the Grant Date.

Substitute Options. Notwithstanding the provisions of Section Sections 5.3.1 and 5.3.2, in the event that the Company or a Subsidiary an Affiliate consummates a transaction described in Section 424(a) of the Code (e.g., the acquisition of property or stock from an unrelated corporation), persons who become Employees Employees, Consultants or Consultants Directors on account of such transaction may be granted Options in substitution for options granted by their former employer (or parent company or affiliated company of such former employer). If such substitute Options are granted, the Committee Committee, in its sole discretion and consistent with Section 424(a) of the Code, may determine that each such substitute Options shall have an Exercise Price exercise price less than one hundred percent (100%) of the Fair Market Value of the Shares on the Grant Date.

Substitute Options. Notwithstanding the provisions of Section 5.3.2, in the event that the Company or a Subsidiary an Affiliate consummates a transaction described in Section 424(a) of the Code (e.g., the acquisition of property or stock from an unrelated corporation), persons who become Employees Employees, Nonemployee Directors or Consultants on account of such transaction may be granted Options in substitution for A-6 Table of Contents options granted by their former employer (or parent company or affiliated company of such former employer). If such substitute Options are granted, the Committee Committee, in its sole discretion and consistent with Section 424(a) of the Code, may determine that each such substitute Options shall have an Exercise Price exercise price less than one hundred percent (100%) of the Fair Market Value of the Shares on the Grant Date.

Substitute Options. Notwithstanding the provisions of Section Sections 5.3.1 and 5.3.2, in the event that the Company or a Subsidiary an Affiliate consummates a transaction described in Section 424(a) of the Code (e.g., the acquisition of property or stock from an unrelated corporation), persons who become Employees or Consultants on account of such transaction may be granted Options in substitution for options granted by their former employer (or parent company or affiliated company of such former employer). If such substitute Options are granted, the Committee Committee, in its sole discretion and consistent with Section 424(a) of the Code, may determine that each such substitute Options shall have an Exercise Price exercise price less than one hundred percent (100%) of the Fair Market Value of the Shares on the Grant Date.

Substitute Options. Notwithstanding the provisions of Section Sections 5.3.1 and 5.3.2, in the event that the Company or a Subsidiary an Affiliate consummates a transaction described in Section 424(a) of the Code (e.g., the acquisition of property or stock from an unrelated corporation), persons who become Employees or Consultants Nonemployee Directors on account of such transaction may be granted Options in substitution for options granted by their former employer (or parent company or affiliated company of such former employer). If such substitute Options are granted, the Committee Committee, in its sole discretion and consistent with Section 424(a) of the Code, may determine that each such substitute Options shall have an Exercise Price exercise price less than one hundred percent (100%) of the Fair Market Value of the Shares on the Grant Date.