Sale of Company. In the event that a controlling interest (over 50%) of --------------- ELCOM is sold to a third party, other then the Public markets, EMPLOYEE may exercise one hundred percent (100%) of all options granted under Section 2 herein. EMPLOYEE must exercise said options within sixty (60) days of notification of the acquisition of a controlling interest by a third party. Any Options not exercised by EMPLOYEE within this sixty (60) day period will terminate in full upon expiration of said sixty (60) day period.
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Samples: Stock Option Agreement (Elcom Technologies Corp), Stock Option Agreement (Elcom Technologies Corp), Stock Option Agreement (Elcom Technologies Corp)
Sale of Company. In the event that a controlling interest (over 50%) of --------------- ELCOM is sold to a third party, other then than the Public markets, EMPLOYEE may exercise one hundred percent (100%) of all options granted under Section 2 herein. EMPLOYEE must exercise said options within sixty (60) days of notification of the acquisition of a controlling interest by a third party. Any Options not exercised by EMPLOYEE within this sixty (60) day period will terminate in full upon expiration of said sixty (60) day period.
Appears in 2 contracts
Samples: Stock Option Agreement (Elcom Technologies Corp), Stock Option Agreement (Elcom Technologies Corp)
Sale of Company. In the event that a controlling interest (over 50%) of --------------- ELCOM is sold to a third party, other then the Public markets, EMPLOYEE DIRECTOR may exercise one hundred percent (100%) of all options granted under Section 2 herein. EMPLOYEE DIRECTOR must exercise said options within sixty (60) days of notification of the acquisition of a controlling interest by a third party. Any Options not exercised by EMPLOYEE DIRECTOR within this sixty (60) day period will terminate in full upon expiration of said sixty (60) day period.
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Sale of Company. In the event that a controlling interest (over 50%) of --------------- ELCOM is sold to a third party, other then the Public markets, EMPLOYEE may exercise one hundred percent (100%) of all options granted under Section 2 herein. EMPLOYEE must exercise said options within sixty (60) days of notification of the acquisition of a controlling interest by a third party. Any Options not exercised by EMPLOYEE within this sixty (60) day period will terminate in full upon expiration of said sixty (60) day period.
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