Other Terminations or Expirations. In addition to any other event causing an expiration or termination of the Option, the Option shall expire and all rights to purchase Shares shall cease (to the extent not theretofore terminated or expired as herein provided) upon the effective date of the dissolution or liquidation of the Company or upon a merger, consolidation, acquisition of property or shares, separation or reorganization of the Company with one or more entities, corporate or otherwise, as a result of which the Company is not the surviving entity, or if the Company is the surviving entity and the ownership of the outstanding Common Stock following the transaction changes by 80% or more as a result of such transaction, or of a sale of substantially all of the property or shares of the Company to another entity, corporate or otherwise (collectively, a "Transaction"); provided, however, that the Company may, in its discretion, and immediately prior to any such Transaction, cause a new option to be substituted for the Option or cause the Option to be assumed by an employer entity or a parent or subsidiary of such entity; and, subject to the terms of the Plan, the terms and conditions of any such new option shall apply to all Shares issued in addition to or in substitution, replacement or modification of the Shares covered by any Option canceled or replaced.
Other Terminations or Expirations. (a) In addition to any other event causing an expiration or termination of this Option, this Option shall expire and all rights to purchase Shares shall cease (to the extent not theretofore terminated or expired as herein provided) upon the effective date of a Change of Control. To the extent applicable, based upon the event causing a Change of Control, the Company shall give written notice to the Optionee of the proposed Change of Control not less than thirty (30) days prior to the anticipated effective date of the Change of Control. The Option shall be accelerated and, concurrent with the effective date of the Change of Control, the Optionee shall have the right to either (i) exercise the Option in respect to any or all of the Shares then subject thereto, or (ii) exchange this Option for cash in an amount equal to the number of Shares which as of the effective date of the Change of Control may be acquired upon the exercise of the Option, multiplied by the difference between (1) the fair market value of the consideration to be paid per Share in connection with the Change of Control as determined by the Board of Directors, which determination shall be final and binding on Optionee, and (2) The Exercise Price. Such cash payment shall be paid within thirty (30) days following the consummation of the Change of Control. Neither the approval of the Board or the Committee shall be required in connection with such election and the cash distribution.
Other Terminations or Expirations. In addition to any other event causing an expiration or termination of this Option, this Option shall expire and all rights to purchase Shares shall cease (to the extent not theretofore terminated or expired as herein provided) upon the effective date of the dissolution or liquidation of the Company or upon the completion of a Transaction; provided, however, that the Company may, in its discretion, and immediately prior to any such Transaction, cause a new option to be substituted for this Option or cause this Option to be assumed by an employer entity or a parent or subsidiary of such entity; and such new option shall apply to all shares issued in addition to or substitution, replacement or modification of the shares theretofore covered by such option; provided that,
Other Terminations or Expirations. Notwithstanding any other provision contained herein, in the event of a "Change of Control," as such term is defined in Section 9(a) of the Employment Agreement between the Company and Optionee of even date herewith, the Option shall immediately become fully vested and exercisable.
Other Terminations or Expirations. (a) In the event that a Change of Control (as defined below) occurs on or before November 16, 2000, the vesting of 50% of the shares subject to the Option shall be accelerated immediately prior thereto and Optionee shall have the right to exercise this Option in respect to 50% of the shares then subject thereto. In the event that a Change of Control (as defined below) occurs after November 16, 2000, the vesting of all of the shares subject to the Option shall be accelerated immediately prior thereto and Optionee shall have the right to exercise this Option in respect to any or all of the shares then subject thereto. The vesting acceleration described in this Section 6(a) shall occur only if at the time of the Change of Control, monthly vesting has commenced purusant to Section 3 above. If monthly vesting has not commenced then there will be no vesting acceleration on the Change of Control. To the extent possible, the Company's stock plan administrator shall cause written notice of the Change of Control to be given to the Optionee not less then 10 days prior to the anticipated effective date of the Change of Control.
Other Terminations or Expirations. (a) In the event that a Change of Control (as defined below) occurs on or before November 16, 2000, the vesting of 50% of the shares subject to the Option shall be accelerated immediately prior thereto and Optionee shall have the right to exercise this Option in respect to 50% of the shares then subject thereto. In the event that a Change of Control (as defined below) occurs after November 16, 2000, the vesting of all of the shares subject to the Option shall be accelerated immediately prior thereto and Optionee shall have the right to exercise this Option in respect to any or all of the shares then subject thereto. To the extent possible, the Company's stock plan administrator shall cause written notice of the Change of Control to be given to the Optionee not less then 10 days prior to the anticipated effective date of the Change of Control.
