Alternative Awards. Notwithstanding Section 5(a), no cancellation, termination, acceleration of exercisability or vesting, or settlement or other payment shall occur with respect to the Options if the Committee (as constituted immediately prior to the Change in Control) reasonably determines, in good faith, prior to the Change in Control that the Options shall be honored or assumed or new rights substituted therefor by an Alternative Award, in accordance with the terms of Section 9.2 of the Plan.
Appears in 4 contracts
Samples: Employee Stock Option Agreement (Herc Holdings Inc), Employee Stock Option Agreement (Hertz Rental Car Holding Company, Inc.), Employee Stock Option Agreement (Hertz Global Holdings Inc)
Alternative Awards. Notwithstanding Section 5(a6(a), no cancellation, termination, acceleration of exercisability or vesting, or settlement or other payment shall occur with respect to the Options if the Committee (as constituted immediately prior to the Change in Control) reasonably determines, in good faith, prior to the Change in Control that the Options shall be honored or assumed or new rights substituted therefor by an Alternative Award, in accordance with the terms of Section 9.2 of the Plan.
Appears in 2 contracts
Samples: Employment Agreement (Hertz Corp), Employee Stock Option Agreement (Hertz Corp)
Alternative Awards. Notwithstanding Section 5(aSections 2(j)(i), 2(j)(ii) and 2(j)(iii), no cancellation, termination, acceleration of exercisability or vesting, or settlement or other payment shall occur with respect to the Options if the Committee (as constituted immediately prior to the Change in Control) reasonably determines, in good faith, prior to the Change in Control that the Options shall be honored or assumed or new rights substituted therefor by an Alternative Award, in accordance with the terms of Section 9.2 8.2 of the Plan.
Appears in 1 contract
Samples: Incentive Stock Option Award Agreement (Emcore Corp)
