Conversion of Company Stock Options. Each Company Stock Option (as defined in Section 2.4(a) hereof), issued and outstanding immediately prior to the Effective Time shall be converted into (as provided in and subject to the limitations set forth in this Article II) the right to receive from the Surviving Corporation the Option Consideration (as defined in Section 2.4(a) hereof) without interest thereon. As of the Effective Time, all such Company Stock Options shall no longer be outstanding and shall automatically be canceled and retired and shall cease to exist, and each holder of any such Company Stock Option shall cease to have any rights with respect thereto, except the right to receive the Option Consideration into which their Company Stock Options have been converted by the Merger as provided in this Section 2.1(d) and Section 2.4(a) hereof.
Appears in 2 contracts
Samples: Agreement and Plan of Merger (OCM Principal Opportunities Fund IV, LP), Agreement and Plan of Merger (Nevada Chemicals Inc)
Conversion of Company Stock Options. Each Company Stock Option (as defined in Section 2.4(a2.03(a) hereof), issued and outstanding immediately prior to the Effective Time shall be converted into (as provided in and subject to the limitations set forth in this Article II) the right to receive from the Surviving Corporation the Option Consideration (as defined in Section 2.4(a2.03(a) hereof) without interest thereon. As of the Effective Time, all such Company Stock Options shall no longer be outstanding and shall automatically be canceled and retired and shall cease to exist, and each holder of any such Company Stock Option shall cease to have any rights with respect thereto, except the right to receive the Option Consideration into which their Company Stock Options have been converted by the Merger as provided in this Section 2.1(d2.01(e) and Section 2.4(a) hereof2.03(a).
Appears in 2 contracts
Samples: Recapitalization Agreement and Plan of Merger (Westaff Inc), Recapitalization Agreement and Plan of Merger (Cornerstone Equity Investors Iv Lp)
Conversion of Company Stock Options. Each Company Stock Option (as defined in Section 2.4(a2.03(a) hereof), issued and outstanding immediately prior to the Effective Time shall be converted into (as provided in and subject to the limitations set forth in this Article II) the right to receive from the Surviving Corporation the Option Consideration (as defined in Section 2.4(a2.03(a) hereof) without interest thereon. As of the Effective Time, all such Company Stock Options shall no longer be outstanding and shall automatically be canceled and retired and shall cease to exist, and each holder of any such Company Stock Option shall cease to have any rights with respect thereto, except the right to receive the Option Consideration cash into which their Company Stock Options have been converted by the Merger as provided in this Section 2.1(d2.01(e) and Section 2.4(a) hereof2.03(a).
Appears in 2 contracts
Samples: Recapitalization Agreement and Plan of Merger (Equitrac Corporation), Recapitalization Agreement and Plan of Merger (Equitrac Corporation)
