Common use of Existing Options Clause in Contracts

Existing Options. The Company hereby undertakes to amend and restate each option agreement executed with Executive prior to the date hereof to provide that all such options shall vest immediately upon (A) the occurrence of an event which constitutes a Change of Control (as defined herein) of the Company and (B)(i) the termination of Executive's employment without Cause (as defined herein) or (ii) termination of employment by Executive with Good Reason (as defined herein), in either case within one (1) year of the date on which the Change of Control takes place.

Existing Options. The Company hereby undertakes to amend and restate each option agreement executed with Executive prior to the date hereof to provide that all such options option shall vest immediately upon (A) the occurrence of an event which constitutes a Change of Control (as defined herein) of the Company and (B)(i) the termination of Executive's employment without Cause (as defined herein) or (ii) termination of employment by Executive with Good Reason (as defined herein), in either case within one (1) year of the date on which the Change of Control takes place.