Common use of Impact of Change in Control Clause in Contracts

Impact of Change in Control. If a Change in Control (as defined in the Plan) of the Company occurs, this Option will become immediately exercisable in full and will remain exercisable until the Time of Termination, regardless of whether the Optionee remains in the employ or service of the Company or any Subsidiary. In addition, if a Change in Control of the Company occurs, the Committee, in its sole discretion and without the consent of the Optionee, may determine that the Optionee will receive, with respect to some or all of the Option Shares, as of the effective date of any such Change in Control of the Company, cash in an amount equal to the excess of the Fair Market Value (as defined in the Plan) of such Option Shares immediately prior to the effective date of such Change in Control of the Company over the option exercise price per share of this Option.

Appears in 4 contracts

Samples: Non Statutory Stock Option Agreement (Northern Technologies International Corp), Form of Non Statutory Stock Option Agreement (Northern Technologies International Corp), Form of Non Statutory Stock Option Agreement (Mocon Inc)

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Impact of Change in Control. If a Change in Control (as defined in the Plan) of the Company occurs, this Option will become immediately exercisable in full and will remain exercisable until the Time of Termination, regardless of whether the Optionee remains in the employ or service of the Company or any Subsidiary. In addition, if a Change in Control of the Company occurs, the Committee, in its sole discretion and without the consent of the Optionee, may determine that the Optionee will receive, with respect to some or all of the Option Shares, as of the effective date of any such Change in Control of the Company, cash in an amount equal to the excess of the Fair Market Value (as defined in the Plan) of such Option Shares immediately prior to the effective date of such Change in Control of the Company over the option exercise price per share of this Option.

Appears in 4 contracts

Samples: Incentive Stock Option Agreement (Northern Technologies International Corp), Form of Incentive Stock Option Agreement (Mocon Inc), Form of Incentive Stock Option Agreement (Northern Technologies International Corp)

Impact of Change in Control. If a Change in Control (as defined in the PlanSection 9 of this Agreement) of the Company occurs, this and the Option has been outstanding for at least two months, the Option will become immediately exercisable in full and will remain exercisable until the Time of Option Termination, regardless of whether the Optionee remains in the employ or service of the Company or any Subsidiary. In addition, if a Change in Control of the Company occurs, the Committee, in its sole discretion and without the consent of the Optionee, may determine that the Optionee will receive, with respect to some or all of the Option Shares, as of the effective date of any such Change in Control of the Company, cash in an amount equal to the excess of the Fair Market Value (as defined in the Plan) of such Option Shares immediately prior to the effective date of such Change in Control of the Company over the option exercise price per share of this the Option.

Appears in 4 contracts

Samples: Non Qualified Stock Option Agreement (Arbitron Inc), Non Qualified Stock Option Agreement (Ceridian Corp /De/), Non Qualified Stock Option Agreement (Ceridian Corp)

Impact of Change in Control. If any event constituting a Change in Control (as defined in the Plan) of the Company occurs, this Option will become immediately exercisable in full and will remain exercisable until the Time of Termination, regardless of whether the Optionee remains in the employ or service of the Company or any Subsidiary. In addition, if a Change in Control of the Company occurs, the Committee, in its sole discretion and without the consent of the Optionee, may determine that the Optionee will receive, with respect to some or all of the Option Shares, as of the effective date of any such Change in Control of the Company, cash in an amount equal to the excess of the Fair Market Value (as defined in the Plan) of such Option Shares immediately prior to the effective date of such Change in Control of the Company over the option exercise price per share of this Option.

Appears in 3 contracts

Samples: Non Statutory Stock Option Agreement (Rdo Equipment Co), Non Statutory Stock Option Agreement (Rdo Equipment Co), Non Statutory Stock Option Agreement (Rdo Equipment Co)

Impact of Change in Control. If a Change in Control (as defined in the Plan) of the Company occurs, this the Option will become immediately exercisable in full and will remain exercisable until the Time of Termination, regardless of whether the Optionee remains in the employ or service of the Company or any Subsidiary. In addition, if a Change in Control of the Company occurs, the Committee, in its sole discretion and without the consent of the Optionee, may determine that the Optionee will receive, with respect to some or all of the Option Shares, as of the effective date of any such Change in Control of the Company, cash in an amount equal to the excess of the Fair Market Value (as defined in the Plan) of such Option Shares immediately prior to the effective date of such Change in Control of the Company over the option exercise price per share of this the Option.

Appears in 2 contracts

Samples: Form of Incentive Stock Option Agreement (Northern Technologies International Corp), Form of Incentive Stock Option Agreement (Northern Technologies International Corp)

Impact of Change in Control. If a Change in Control (as defined in the Plan) of the Company occurs, this the Option will become immediately exercisable in full and will remain exercisable until the Time of Termination, regardless of whether the Optionee remains in the employ or service of the Company or any Subsidiary. In addition, if a Change in Control of the Company occurs, the Committee, in its sole discretion and without the consent of the Optionee, may determine that the Optionee will receive, with respect to some or all of the Option Shares, as of the effective date of any such Change in Control of the Company, cash in an amount equal to the excess of the Fair Market Value (as defined in the Plan) of such Option Shares immediately prior to the effective date of such Change in Control of the Company over the option exercise price per share of this the Option.

Appears in 2 contracts

Samples: Form of Non Statutory Stock Option Agreement (Northern Technologies International Corp), Form of Non Statutory Stock Option Agreement (Northern Technologies International Corp)

Impact of Change in Control. If any events constituting a Change in Control (as defined in the Plan) of the Company occursoccur, this Option will become immediately exercisable in full and will remain exercisable until the Time of Termination, regardless of whether the Optionee remains in the employ or service of the Company or any Subsidiary. In addition, if a Change in Control of the Company occurs, the Committee, in its sole discretion and without the consent of the Optionee, may determine that the Optionee will receive, with respect to some or all of the Option Shares, as of the effective date of any such Change in Control of the Company, cash in an amount equal to the excess of the Fair Market Value (as defined in the Plan) of such Option Shares immediately prior to the effective date of such Change in Control of the Company over the option exercise price per share of this OptionOption (or, in the event that there is no excess, such Option will be terminated).

Appears in 1 contract

Samples: Non Statutory Stock Option Agreement (Synovis Life Technologies Inc)

Impact of Change in Control. If any events constituting a Change in Control (as defined in the Plan) of the Company occursoccur, this Option will become immediately exercisable in full and will remain exercisable until the Time of Termination, regardless of whether the Optionee remains in the employ or service of the Company or any Subsidiary. In addition, if a Change in Control of the Company occurs, the Committee, in its sole discretion and without the consent of the Optionee, may determine that the Optionee will receive, with respect to some or all of the Option Shares, as of the effective date of any such Change in Control of the Company, cash in an amount equal to the excess of the Fair Market Value (as defined in the Plan) of such Option Shares immediately prior to the effective date of such Change in Control of the Company over the option exercise price per share of this OptionOption (or, in the event that there is no excess, such Option will be terminated).

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Synovis Life Technologies Inc)

Impact of Change in Control. If a Change in Control (as defined in the Plan) of the Company occurs, this Option will become immediately exercisable in full and will remain exercisable until the Time of Termination, regardless of whether the Optionee remains in the employ or service of the Company or any Subsidiary. In addition, if a Change in Control of the Company occurs, the Committee, in its sole discretion and without the consent of the Optionee, may determine that the Optionee will receive, with respect to some or all of the Option Shares, as of the effective date of any such Change in Control of the Company, cash in an amount equal to the excess of the Fair Market Value (as defined in the Plan) of such Option Shares immediately prior to the effective date of such Change in Control of the Company over the option exercise price per share of this Option.. (b)

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Select Comfort Corp)

Impact of Change in Control. If a Change in Control Event (as defined in the PlanSection 9 of this Agreement) of the Company occursoccurs before the Option is fully exercisable, this the Option will become immediately fully exercisable in full and will remain exercisable until exercisable, except as the Time of Termination, regardless of whether Committee determines otherwise in connection with the Optionee remains Change in the employ or service of the Company or any SubsidiaryControl Event. In addition, if a Change in Control Event of the Company occurs, the Committee, in its sole discretion and without the consent of the Optionee, may determine that the Optionee will receive, with respect to some or all of the Option Shares, as of the effective date of any such Change in Control Event of the Company, cash in an amount equal to the excess of the Fair Market Value (as defined in the Plan) of such Option Shares immediately prior to the effective date of as determined by taking into account such Change in Control Event of the Company over the option exercise price per share of this the Option.

Appears in 1 contract

Samples: Stock Option Agreement (Arbitron Inc)

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Impact of Change in Control. If any event constituting a Change in Control (as defined in the Plan) of the Company occurs, this Option will become immediately exercisable in full and will remain exercisable until the Time of Termination, regardless of whether the Optionee remains in the employ or service of the Company or any Subsidiary. In addition, if a Change in Control of the Company occurs, the Committee, in its sole discretion and without the consent of the Optionee, may determine that the Optionee will receive, with respect to some or all of the Option Shares, as of the effective date of any such Change in Control of the Company, cash in an amount equal to the excess of the Fair Market Value (as defined in the Plan) of such Option Shares immediately prior to the effective date of such Change in Control of the Company over the option exercise price per share of this Option.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Rdo Equipment Co)

Impact of Change in Control. If any events constituting a Change in Control (as defined in the Plan) of the Company occursoccur, this Option will become immediately exercisable in full and will remain exercisable until the Time of Termination, regardless of whether the Optionee remains in the employ or service of the Company or any Subsidiary. In addition, if a Change in Control of the Company occurs, the Committee, in its sole discretion and without the consent of the Optionee, may determine that the Optionee will receive, with respect to some or all of the Option Shares, as of the effective date of any such Change in Control of the Company, cash in an amount equal to the excess of the Fair Market Value (as defined in the Plan) of such Option Shares immediately prior to the effective date of such Change in Control of the Company over the option exercise price per share of this Option.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Tech Squared Inc)

Impact of Change in Control. If any events constituting a Change in Control (as defined in the Plan) of the Company occursoccur, this Option will become immediately exercisable in full and will remain exercisable until the Time of Termination, regardless of whether the Optionee remains in the employ or service of the Company or any Subsidiary. In addition, if a Change in Control of the Company occurs, the Committee, in its sole discretion and without the consent of the Optionee, may determine that the Optionee will receive, with respect to some or all of the Option Shares, as of the effective date of any such Change in Control of the Company, cash in an amount equal to the excess of the Fair Market Value (as defined in the Plan) of such Option Shares immediately prior to the effective date of such Change in Control of the Company over the option exercise price per share of this Option.

Appears in 1 contract

Samples: Non Statutory Stock Option Agreement (Tech Squared Inc)

Impact of Change in Control. If a Change in Control (as defined in the Plan) of the Company occurs, this Option Option, if it has been outstanding for at least six months, will become immediately exercisable in full and will remain exercisable until the Time of Termination, regardless of whether the Optionee remains in the employ or other service of the Company or any Subsidiary. In addition, if a Change in Control of the Company occurs, the Committee, in its sole discretion and without the consent of the Optionee, may determine that the Optionee will receive, with respect to some or all of the Option Shares, as of the effective date of any such Change in Control of the Company, cash in an amount equal to the excess of the Fair Market Value (as defined in the Plan) of such Option Shares immediately prior to the effective date of such Change in Control of the Company over the option exercise price per share of this Option.

Appears in 1 contract

Samples: Non Statutory Stock Option Agreement (Nash Finch Co)

Impact of Change in Control. If a Change in Control (as defined in the Plan) of the Company occurs, this Option will become immediately exercisable in full and will remain exercisable until the Time of Termination, regardless of whether the Optionee remains in the employ or service as a Director of the Company or any Subsidiary. In addition, if a Change in Control of the Company occurs, the Committee, in its sole discretion and without the consent of the Optionee, may determine that the Optionee will receive, with respect to some or all of the Option Shares, as of the effective date of any such Change in Control of the Company, cash in an amount equal to the excess of the Fair Market Value (as defined in the Plan) of such Option Shares immediately prior to the effective date of such Change in Control of the Company over the option exercise price per share of this Option.

Appears in 1 contract

Samples: Non Statutory Stock Option Agreement (Fargo Electronics Inc)

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