Common use of Consolidation; Merger; Dissolution and Conversion Clause in Contracts

Consolidation; Merger; Dissolution and Conversion. a. Subject to any required action by the shareholders of the Company, if the Company shall be the surviving corporation in any merger or consolidation, while any part of this Option remains unexercised, such unexercised part of this Option shall pertain to and apply to the securities to which a holder of the number of Shares subject hereto would have been entitled (i.e., the Employee shall be entitled to purchase such number of securities as he would have received had this Option been exercised prior to such merger or consolidation).

Consolidation; Merger; Dissolution and Conversion. a. Subject to any required action by the shareholders stockholders of the Company, if the Company shall be the surviving corporation in any merger or consolidation, consolidation while any part of this a Performance Option remains unexercised, such unexercised part of this the Performance Option shall pertain to and apply to the securities to which a holder of the number of Shares subject hereto would have been entitled (i.e., the Employee shall be entitled to purchase such number of securities as he would have received had this the Performance Option been exercised prior to such merger or consolidation).