Acceleration of Option. In the event that the COMPANY or its shareholders enter into one or more agreements to dispose of all or substantially all of the assets or fifty percent (50%) or more of the outstanding capital stock of the COMPANY by means of sale (whether as a result of a tender offer or otherwise), merger, reorganization or liquidation in one or a series of related transactions (each, an "ACCELERATION EVENT"), then the OPTION shall become exercisable during the fifteen (15) days immediately prior to the scheduled consummation of the ACCELERATION EVENT with respect to the full number of COMMON SHARES subject to the OPTION. Upon consummation of the ACCELERATION EVENT, the OPTION, whether or not accelerated, will terminate and cease to be exercisable, unless assumed by the successor corporation or parent thereof.
Appears in 4 contracts
Samples: Stock Option Agreement (Barry R G Corp /Oh/), Stock Option Agreement (Barry R G Corp /Oh/), Stock Option Agreement (Barry R G Corp /Oh/)
