Common use of Mergers, Reorganizations, Etc Clause in Contracts

Mergers, Reorganizations, Etc. In the event that the Company at any ----------------------------- time proposes to sell substantially all of its assets, merge into, consolidate with or to enter into any other reorganization in which the Company is not the surviving corporation, this Option shall terminate upon the effective date of such transaction unless provision is made in writing in connection with such transaction for (a) the assumption of this Option or the substitution of this Option of a new option or comparable value covering shares of a successor corporation, with the appropriate adjustments as to the number and kind of shares and the Exercise Price, in which event this Option or the new option substituted therefor shall continue in the manner and under the terms so provided, or (b) the substitution for this Option of a program or plan to provide rights to Optionee to receive, on exercise of such rights, the type and amount of consideration Optionee would have received had he or she exercised this Option prior to such transaction and less the aggregate Exercise Price therefor.

Mergers, Reorganizations, Etc. In the event that the Company at any ----------------------------- time proposes to sell substantially all of its assets, merge into, consolidate with another entity or to enter into any other reorganization in which the Company is not the surviving corporation, this Option shall terminate upon the effective date of such transaction unless provision is made in writing in connection with such transaction for (ai) the assumption of this Option or the substitution of this Option of with a new option or of comparable value covering shares of a successor corporation, with the appropriate adjustments as to the number and kind of shares and the Exercise Price, in which event this Option or the new option substituted therefor shall continue in the manner and under the terms so provided, ; or (bii) the substitution for this Option of a program or plan to provide rights to Optionee to receive, on exercise of such rights, the type and amount of consideration Optionee would have received had he or she exercised this Option prior to such transaction and less the aggregate Exercise Price therefor.

Mergers, Reorganizations, Etc. In the event that the Company at any ----------------------------- time proposes to sell substantially all of its assets, merge into, consolidate with another entity or to enter into any other reorganization in which the Company is not the surviving corporation, this Option shall terminate upon the effective date of such transaction unless provision is made in writing in connection with such transaction for (ai) the assumption of this Option or the substitution of this Option of with a new option or of comparable value covering shares of a successor corporation, with the appropriate adjustments as to the number and kind of shares and the Exercise Price, in which event this Option or the new option substituted therefor shall continue in the manner and under the terms so provided, ; or (bii) the substitution for this Option of a program or plan to provide rights to Optionee to receive, on exercise of such rights, the type and amount of consideration Optionee would have received had he or she exercised this Option prior to such transaction and less the aggregate Exercise Price therefor.