Amendment of Stock Options. As soon as practicable following the date hereof, the Company shall use its commercially reasonable efforts to cause each issued and outstanding option under the Company Stock Plans to be amended to permit the conversion of such options at the Effective Time as provided in Section 3.08 hereof to the extent such options do not permit such treatment; provided, however, that in no event shall the Company provide any benefit or consideration to the holder of any such option in obtaining such amendment or take any other action prohibited in connection with the transactions contemplated by this Agreement under Rule 14d-10 promulgated under the Exchange Act.
Amendment of Stock Options. The Company has never adjusted or amended the exercise price of any stock options previously awarded, whether through amendment, cancellation, replacement grant, repricing, or any other means. Except as set forth in the Company’s Certificate of Incorporation, the Company has no obligation (contingent or otherwise) to purchase or redeem any of its capital stock.
Amendment of Stock Options. Pursuant to authorization of the Board of Directors of the Company, the non-qualified stock option held by Mr. Chaltiel to purchase up to 166,667 shares of common stock of the Company (the "Stock Option") is hereby amended to provide that the unvested portion of the Stock Option (covering 55,555 shares) shall be deemed fully vested as of the Effective Date. The Stock Option shall be exercisable at any time prior to August 4, 2002, and shall expire on such date to the extent not exercised prior thereto.
Amendment of Stock Options. The amendment set forth below shall apply to those stock option grants (each an “Option”) set forth on Schedule A attached hereto. The section of each Notice of Grant entitled “Vesting Schedule” or “Time Vesting Portion of the Option”, as applicable, shall be amended by:
Amendment of Stock Options. Pursuant to authorization of the Board of Directors of the Company, all stock options held by Xx. Xxxx to purchase common stock of the Company (each, a "Stock Option") are hereby amended to (i) provide that they shall continue to vest for one (1) year following the Effective Date in the same manner as if Xx. Xxxx were employed by the Company during such period, (ii) extend the exercise period of that portion of each Stock Option that was vested as of July 19, 1999 such that Xx. Xxxx may exercise such Stock Option to the extent vested as of July 19, 1999 at any time during the one year period ending on the first anniversary of the Effective Date, (iii) provide that, with respect to any portion of any Stock Option which vests during the one year period ending on the first anniversary of the Effective Date, Xx. Xxxx may, after the date on which such Stock Option vests, exercise such portion of such Stock Option during the period provided for in such Stock Option for the exercise of the vested portion of such Stock Option following a termination of employment without cause (as if the date on which such Stock Option vests were the effective date of such termination without cause), and (iv) provide that, upon the consummation of a Change of Control (as such term was defined in Section 3.6(a) of the Employment Agreement) at any time during the one (1) year period ending on the first anniversary of the Effective Date, such portion of each Stock Option as would have vested during such one (1) year period shall, to the extent not vested as of the date on which such Change of Control is consummated, be accelerated and shall be deemed to have vested immediately prior to such Change of Control and Xx. Xxxx may, after the date on which such Change of Control is consummated, exercise such portion of such Stock Option during the period provided for in such Stock Option for the exercise of the vested portion of such Stock Option following a termination of employment without cause (as if the date on such Change of Control is consummated were the effective date of such termination without cause).
Amendment of Stock Options. This Agreement shall serve to -------------------------- memorialize the amendment approved by the Board of Directors of the Company on March 2, 1998 to any and all stock options held by Employee prior to such date (the "Options") to provide that the Options may be exercised through the delivery of shares of Common Stock owned by Employee having a fair market value as of the date of such exercise equal to the cash exercise price of the Options being exercised, provided that such shares of Common Stock being so delivered have been owned by Employee for at least six (6) months prior to the date of such exercise. The parties acknowledge and agree that, the Options will become fully vested and exercisable without regard to their vesting provisions in the event that Employee is terminated by the Company for any reason at any time following a Change of Control as set forth in Section 3.4(a) hereof.
Amendment of Stock Options. Pursuant to authorization of the Compensation Committee of the Board of Directors of the Corporation, all stock options held by Owenx xx purchase Common Stock of the Corporation ("Stock Options") with an exercise price of $7.40 per share are hereby amended effective as of September 16, 1998 to provide that, subject to Owenx' xxmpliance with the terms and conditions hereof, such options may be exercised at any time during the Term and shall terminate on August 10, 1999 to the extent not exercised prior to the close of business on the last day of the Term. All Stock Options held by Owenx xxxh an exercise price of $2.78 per share shall not be amended in any way. Owenx xxxll notify the Corporation in writing prior to any sale of shares of Common Stock, whether acquired upon the exercise of Stock Options or otherwise.
Amendment of Stock Options. Notwithstanding any provision of any existing stock option agreement between the Company and the Employee, in the event the Employee becomes entitled to receive a payment under Section 4 of this Agreement, any stock options vested as of the date of such entitlement shall terminate on the later of (a) two (2) years from the date of such entitlement or (b) the date specified in the stock option agreement. This Section shall not affect the vesting, manner of exercise or any provision of such options other than the termination date.
Amendment of Stock Options. Promptly after execution of this Agreement, the Company shall take such action as may be practicable under the terms of all outstanding Company Stock Options and the Company SECT to ensure that at the Effective Time, each Company Stock Option then outstanding shall be converted into the right to receive payment from the Company SECT of the amount of the excess, if any, of the Merger Price Per Share for each share of Company Common Stock for which that Company Stock Option was theretofore exercisable over the exercise price per share for each such share of Company Common Stock. It is understood that, since the Company will not receive the exercise price for any Company Stock Option amended as provided in this paragraph, there will be no Principal Reduction (as defined in section 2.3 of the Amended and Restated Trust Agreement effective as of March 25, 1998) with respect to any payment by the Company SECT to the holder of any Company Stock Option so converted.
Amendment of Stock Options. The Company shall have completed the action to modify the terms of outstanding Company Stock Options as provided in Section 6.3 hereof.
