Common use of COMPANY NOT THE SURVIVOR Clause in Contracts

COMPANY NOT THE SURVIVOR. In the event of a dissolution or liquidation of the Company, a merger, consolidation, combination, or reorganization in which the Company is not the surviving corporation, or a sale of substantially all of the assets of the Company (as determined in the sole discretion of the Administrator), and if the Optionee does not exercise the entire Option within 90 days of such event, the Administrator and Optionee may agree to (i) cancel each outstanding Option upon payment in cash to the Optionee of the amount by which any cash and the fair market value of any other property which the Optionee would have received as consideration for the shares of Stock covered by the Option if the Option had been exercised before such liquidation, dissolution, merger, consolidation, or sale exceeds the exercise price of the Option, or (ii) assign the Option and all rights and Obligations under it to the successor entity, with all such rights and obligations being assumed by the successor entity.

COMPANY NOT THE SURVIVOR. In the event of a dissolution or liquidation of the Company, a merger, consolidation, combination, or reorganization in which the Company is not the surviving corporation, or a sale of substantially all of the assets of the Company (as determined in the sole discretion of the AdministratorBoard of Directors), and if the Optionee does not exercise the entire Option within 90 30 days of such event, the Administrator Board of Directors and Optionee may agree to (i) cancel each outstanding Option upon payment in cash to the Optionee of the amount by which any cash and the fair market value of any other property which the Optionee would have received as consideration for the shares of Stock covered by the Option if the Option had been exercised before such liquidation, dissolution, merger, consolidation, or sale exceeds the exercise price of the Option, Option or (ii) assign the Option and all rights and Obligations obligations under it to the successor entity, with all such rights and obligations being assumed by the successor entity.

COMPANY NOT THE SURVIVOR. In the event of a dissolution or liquidation of the Company, a merger, consolidation, combination, or reorganization in which the Company is not the surviving surviving, corporation, or a sale of substantially all of the assets of the Company (as determined in the sole discretion of the Administrator), and if the Optionee does not exercise the entire Option within 90 days of such event, the Administrator and Optionee may agree to (i) cancel each outstanding Option upon payment in cash to the Optionee of the amount by which any cash and the fair market value of any other property which the Optionee would have received as consideration for the shares of Stock covered by the Option if the Option had been exercised before such liquidation, dissolution, merger, consolidation, or sale exceeds the exercise price of the Option, or (ii) assign the Option and all rights and Obligations under it to the successor entity, with all such rights and obligations being assumed by the successor entity.