Cancellation of Target Options. Promptly upon execution of this Agreement, the Target shall notify in writing all holders of all outstanding options to purchase shares of common stock of the Target (“Options”) of the pending Merger and shall give each such holder an opportunity to exercise such Options in accordance with their terms prior to the Effective Time. All Options that are not exercised prior to the Effective Time shall be cancelled and cease to exist, and no consideration will be delivered in exchange therefor.
Appears in 4 contracts
Samples: Merger Agreement (Rubicon Financial Inc), Merger Agreement (Rubicon Financial Inc), Merger Agreement (Issg, Inc.)
