Cash Mergers. Upon the occurrence of a merger on consolidation of the Company with another corporation in a transaction in which the stockholders of the Company receive cash consideration in exchange for their shares of capital stock of the Company (a "cash merger"), the Option shall automatically terminate; provided, however, that the Optionee shall be given (i) written notice of such cash merger at least 20 days prior to its proposed effective date (as specified in such notice) and (ii) an opportunity, during the period commencing with delivery of such notice and ending ten (10) days prior to such proposed effective date, to exercise the Option in full as to all of the Option Shares, whether or not then vested.
Appears in 7 contracts
Samples: Nontransferable Incentive Stock Option Agreement (Synaptic Pharmaceutical Corp), Nontransferable Nonqualified Stock Option Agreement (Synaptic Pharmaceutical Corp), Nonqualified Stock Option Agreement (Synaptic Pharmaceutical Corp)
