Effect of a Merger, Consolidation or Liquidation. Subject to Section 7 hereof, upon the effective date of (i) the liquidation or dissolution of the Company or (ii) a merger or consolidation of the Company (a "Transaction"), the Option shall continue in effect in accordance with its terms and the Optionee shall be entitled to receive in respect of all Shares subject to the Option, upon exercise of the Option, the same number and kind of stock, securities, cash, property or other consideration that each holder of Shares was entitled to receive in the Transaction.
Appears in 10 contracts
Samples: Nonqualified Stock Option Agreement (Aldila Inc), Director's Nonqualified Stock Option Agreement (Plains Resources Inc), Combination Incentive Stock Option and Nonqualified Stock Option Agreement (Plains Resources Inc)
Effect of a Merger, Consolidation or Liquidation. Subject to Section 7 hereof, upon the effective date of (i) the liquidation or dissolution of the Company or (ii) a merger or consolidation of the Company (a "Transaction"), the Option shall continue in effect in accordance with its terms and the Optionee shall be entitled to receive in respect of all Shares subject to the Option, upon exercise of the Option, the same number and kind of stock, securities, cash, property or other consideration that each holder of Shares was entitled to receive in the Transaction.. 25
Appears in 3 contracts
Samples: Employment Agreement (Orion Power Holdings Inc), Employment Agreement (Orion Power Holdings Inc), Employment Agreement (Orion Power Holdings Inc)
Effect of a Merger, Consolidation or Liquidation. Subject to Section 7 3 hereof, upon the effective date of (i) the liquidation or dissolution of the Company or (ii) a merger or consolidation of the Company (a "Transaction"), the Option shall continue in effect in accordance with its terms and the Optionee shall be entitled to receive in respect of all Shares subject to the Option, upon exercise of the Option, the same number and kind of stock, securities, cash, property or other consideration that each holder of Shares was entitled to receive in the Transaction.
Appears in 3 contracts
Samples: Performance Stock Option Agreement (Plains Resources Inc), Performance Stock Option Agreement (Plains Resources Inc), Performance Stock Option Agreement (Plains Resources Inc)
Effect of a Merger, Consolidation or Liquidation. Subject to Section 7 5 hereof, upon the effective date of (i) the liquidation or dissolution of the Company or (ii) a merger or consolidation of the Company (a "Transaction"), the Option shall continue in effect in accordance with its terms and the Optionee shall be entitled to receive in respect of all Shares subject to the Option, upon exercise of the Option, the same number and kind of stock, securities, cash, property or other consideration that each holder of Shares was entitled to receive in the Transaction.
Appears in 2 contracts
Samples: Performance Stock Option Agreement (Sable Management Lp), Performance Stock Option Agreement (Plains Resources Inc)
Effect of a Merger, Consolidation or Liquidation. Subject to Section 7 hereof, upon the effective date of (i) the liquidation or dissolution of the Company or (ii) a merger or consolidation of the Company (a "Transaction"), the Option shall continue in effect in accordance with its terms and the Optionee shall be entitled to receive in respect of all Shares subject to the Option, upon exercise of the Option, the same number and kind of stock, securities, cash, property or other consideration that each holder of Shares was entitled to receive in the Transaction.. 26
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