Common use of Assumption of Options Clause in Contracts

Assumption of Options. Subject to the provisions of Section 8, upon dissolution or liquidation of the Corporation, or consolidation of the Corporation into a new entity, or merger, acquisition, or reorganization of the Corporation into or with one or more other corporations, the surviving, resulting or acquiring corporation, as the case may be, or a parent or subsidiary corporation of such corporation, may (but shall not be obligated to) substitute a new Option for this Option, or may (but shall not be obligated to) assume this Option, if: (a) the Employee is then employed by such surviving, resulting or acquiring corporation, or a parent or subsidiary corporation of such corporation; (b) the excess of the aggregate Fair Market Value of the shares subject to the Option immediately after the substitution or assumption over the aggregate Option price of such shares does not exceed the excess of the aggregate Fair Market Value of the Option Shares immediately (c) the new option or the assumption of this Option does not give the Employee additional benefits that the Employee did not have under this Option, as determined in accordance with Section 424(a) of the Internal Revenue Code

Assumption of Options. Subject to the provisions of Section 8, upon dissolution or liquidation of the Corporation, or consolidation of the Corporation into a new entity, or merger, acquisition, or reorganization of the Corporation into or with one or more other corporations, the surviving, resulting or acquiring corporation, as the case may be, or a parent or subsidiary corporation of such corporation, may (but shall not be obligated to) substitute a new Option for this Option, or may (but shall not be obligated to) assume this Option, if: (a) the Employee Optionee is then employed retained as an employee/consultant by such surviving, resulting or acquiring corporation, or a parent or subsidiary corporation of such corporation; (b) the excess of the aggregate Fair Market Value Cause of the shares subject to the Option immediately after the substitution or assumption over the aggregate Option price of such shares does not exceed the excess of the aggregate Fair Market Value of the Option Shares immediatelyimmediately before such substitution or assumption over the aggregate purchase price of the Option Shares; and (c) the new option or the assumption of this Option does not give the Employee additional benefits that the Employee did not have under this Option, as determined in accordance with Section 424(a) of the Internal Revenue Code

Assumption of Options. Subject to the provisions of Section 8, upon dissolution or liquidation of the Corporation, or consolidation of the Corporation into a new entity, or merger, acquisition, or reorganization of the Corporation into or with one or more other corporations, the surviving, resulting or acquiring corporation, as the case may be, or a parent or subsidiary corporation of such corporation, may (but shall not be obligated to) substitute a new Option for this Option, or may (but shall not be obligated to) assume this Option, if: (a) the Employee Optionee is then employed retained as an employee/consultant by such surviving, resulting or acquiring corporation, or a parent or subsidiary corporation of such corporation; (b) the excess of the aggregate Fair Market Value of the shares subject to the Option immediately after the substitution or assumption over the aggregate Option price of such shares does not exceed the excess of the aggregate Fair Market Value of the Option Shares immediatelyimmediately before such substitution or assumption over the aggregate purchase price of the Option Shares; and (c) the new option or the assumption of this Option does not give the Employee additional benefits that the Employee did not have under this Option, as determined in accordance with Section 424(a) of the Internal Revenue Code

Assumption of Options. Subject to the provisions of Section 8, upon dissolution or liquidation of the Corporation, or consolidation of the Corporation into a new entity, or merger, acquisition, or reorganization of the Corporation into or with one or more other corporations, the surviving, resulting or acquiring corporation, as the case may be, or a parent or subsidiary corporation of such corporation, may (but shall not be obligated to) substitute a new Option for this Option, or may (but shall not be obligated to) assume this Option, if: (a) the Employee is then employed by such surviving, resulting or acquiring corporation, or a parent or subsidiary corporation of such corporation; (b) the excess of the aggregate Fair Market Value of the shares subject to the Option immediately after the substitution or assumption over the aggregate Option price of such shares does not exceed the excess of the aggregate Fair Market Value of the Option Shares immediatelyimmediately before such substitution or assumption over the aggregate purchase price of the Option Shares; and (c) the new option or the assumption of this Option does not give the Employee additional benefits that the Employee did not have under this Option, as determined in accordance with Section 424(a) of the Internal Revenue Code