Common use of Delta Options Clause in Contracts

Delta Options. Each outstanding Delta Option held by an Ultra Group Employee at the Effective Time, whether vested or unvested, shall be converted into an option to purchase Ultra Common Stock issued under the Ultra Equity Plan (each such Option, an “Ultra Option”), subject to terms and conditions after the Effective Time that are substantially similar to the terms and conditions applicable to the corresponding Delta Option immediately prior to the Effective Time, and shall be adjusted pursuant to Section 4.2(b)(i) and (ii) below. (i) The number of shares of Ultra Common Stock subject to each such Ultra Option shall be equal to (A) the number of shares of Delta Common Stock subject to the corresponding Delta Option immediately prior to the Effective Time divided by (B) the Ultra Ratio, with any fractional share rounded down to the nearest whole share; and (ii) the per-share exercise price of each such Ultra Option shall be equal to (A) the per-share exercise price of the corresponding Delta Option immediately prior to the Effective Time multiplied by (B) the Ultra Ratio, rounded up to the nearest whole cent.

Delta Options. Each outstanding Delta Option held by an Ultra Group Employee at the Effective Time, whether vested or unvested, shall be converted into an option to purchase Ultra Common Stock issued under the Ultra Equity Plan (each such Option, an “Ultra Option”), subject to terms and conditions after the Effective Time that are substantially similar to the terms and conditions applicable to the corresponding Delta Option immediately prior to the Effective Time, and shall be adjusted pursuant to Section 4.2(b)(i) and (ii) below. (i) The number of shares of Ultra Common Stock subject to each such Ultra Option shall be equal to (A) the number of shares of Delta Common Stock subject to the corresponding Delta Option immediately prior to the Effective Time divided by (B) the Ultra Ratio, with any fractional share rounded down to the nearest whole share; andand US-DOCS\101492795.4 (ii) the per-share exercise price of each such Ultra Option shall be equal to (A) the per-share exercise price of the corresponding Delta Option immediately prior to the Effective Time multiplied by (B) the Ultra Ratio, rounded up to the nearest whole cent.