Grant of Replacement Options Sample Clauses
Grant of Replacement Options. In exchange for the cancelation of the Vested Change Options, in addition to additional grants of options and cash pursuant to that certain Tranche I Stock Option Agreement and that certain Tranche III Stock Option Agreement among the Company, Change, and the Participant, the Company hereby grants to the Participant the vested right and option to purchase, on the terms and conditions hereinafter set forth, all or any part of the number of Shares subject to Company Options as set forth on the signature page hereto, subject to adjustment as set forth in the Plan and this Agreement, and subject to the terms and conditions set forth in this Agreement and the Plan. The exercise price per Share subject to the Company Options shall be the “Option Price” specified on the signature page hereto. The Company Options are intended to be nonqualified stock options, and are not intended to be treated as options that comply with Section 422 of the Code.
Grant of Replacement Options. 12.1 If the Optionholder is offered a new option in connection with an event specified in Rule 5.1.1 to 5.1.3 on similar terms in exchange for his Option, his Option may not be exercised pursuant to Rule 5 and shall lapse at the end of the period during which the new option is offered.
Grant of Replacement Options. If any company ("the Acquiring Company"):
(a) obtains Control of the Company as a result of making a general offer in accordance with Rule 12.1; or
(b) obtains Control of the Company as a result of a Compromise in accordance with Rule 12.3 or
(c) becomes bound or entitled to acquire the Shares under Section 428 in accordance with Rule 12.4, or
(d) obtains all the Shares as a result of a Qualifying Exchange within Rule 13.3, an Option Holder may (or, in the case where the Option Holder is a Significant Participant and the Acquiring Company so requires, shall) at any time within the period set out in Rule 13.2, by agreement with the Acquiring Company, release any Qualifying Option which has not lapsed ("the Old Option") in consideration of the grant to him of an Option ("the New Option") which relates to shares in the Acquiring Company and qualifies as a Replacement Option as set out in Rule 13.4.