Conversion of Target Options. At and as of the Effective Time, by virtue of the Merger and without any action on the part of Acquiror, Merger Sub, Target, or Stockholder, Acquiror shall assume all outstanding Target Options pursuant to the terms of Target’s equity incentive plan and each Target Share that is subject to an outstanding Target Option shall automatically be converted into a right to receive 1.13552971 of a share of Acquiror Shares at an exercise price proportionally adjusted for such conversion.
Appears in 2 contracts
Samples: Merger Agreement (Q2 Holdings, Inc.), Merger Agreement (Q2 Holdings, Inc.)
Conversion of Target Options. At and as of the Effective Time, by virtue of the Merger and without any action on the part of Acquiror, Merger Sub, Target, or Stockholder, Acquiror shall assume all outstanding Target Options pursuant to the terms of Target’s equity incentive plan and each Target Share that is subject to an outstanding Target Option shall automatically be converted into a right to receive 1.13552971 0.32720209 of a share of Acquiror Shares at an exercise price proportionally adjusted for such conversion.
Appears in 2 contracts
Samples: Merger Agreement (Q2 Holdings, Inc.), Merger Agreement (Q2 Holdings, Inc.)
