Common use of Acknowledgment by Company Clause in Contracts

Acknowledgment by Company. The parties hereby acknowledge and agree that the acceptance of any Shares for payment pursuant to the Offer or other tender offer for a majority of the outstanding Shares will constitute a "change of control" under the terms of the various agreements governing the Options set forth on Schedule II hereto and that for purposes of the transactions contemplated by this Agreement all restrictions on transferability and vesting applicable to any of the Unvested Stock or restricted Shares on Schedule I hereto shall be terminated.