Common use of Early Termination of Option Clause in Contracts

Early Termination of Option. The Option Period shall terminate on the date of the first to occur of the following: (a) June 25, 2006: (b) June 25, 2002, in the event all Option Shares have not vested; (c) the date immediately preceding the consummation of: (i) dissolution or liquidation of the Company; (ii) merger of the Company into another corporation, or any consolidation, share exchange, combination, reorganization, or like transaction in which the Company is not the survivor; or (iii) sale or transfer (other than as security of the Company's obligations) of at least a majority of the assets of the Company. The Company will use its best efforts to provide written notice to Optionee of such dissolution, liquidation, merger, consolidation, acquisition, separation, reorganization, sale, transfer, or like transaction, at least (30) days prior to the closing of such transaction to permit Optionee to exercise the Option."

Early Termination of Option. The Option Period shall terminate on the date of the first to occur of the following: (a) June 25, 2006:; (b) June 25, 2002, in the event all Option Shares have not vested; (c) the date immediately preceding the consummation of: (i) dissolution or liquidation of the Company; (ii) merger of the Company into another corporation, or any consolidation, share exchange, combination, reorganization, or like transaction in which the Company is not the survivor; or (iii) sale or transfer (other than as security of the Company's obligations) of at least a majority of the assets of the Company. The Company will use its best efforts to provide written notice to Optionee of such dissolution, liquidation, merger, consolidation, acquisition, separation, reorganization, sale, transfer, or like transaction, at least (30) days prior to the closing of such transaction to permit Optionee to exercise the Option."