Common use of Stock Option Plans; Employee Benefits Clause in Contracts

Stock Option Plans; Employee Benefits. (a) the Company has no stock option plans providing for the grant by the Company of stock options to directors, officers or employees. (b) the Company has no employee benefit plans or arrangements covering their present and former employees or providing benefits to such persons in respect of services provided the Company. (c) Neither the consummation of the transactions contemplated hereby alone, nor in combination with another event, with respect to each director, officer, employee and consultant of the Company, will result in (a) any payment (including, without limitation, severance, unemployment compensation or bonus payments) becoming due from the Company (except as otherwise contemplated by this Agreement), (b) any increase in the amount of compensation or benefits payable to any such individual, or (c) any acceleration of the vesting or timing of payment of compensation payable to any such individual. No agreement, arrangement or other contract of the Company provides benefits or payments contingent upon, triggered by, or increased as a result of a change in the ownership or effective control of the Company.

Stock Option Plans; Employee Benefits. (a) the Company has no stock option plans providing for the grant by the Company of stock options to directors, officers or employees. (b) the Company has no employee benefit plans or arrangements covering their present and former employees or providing benefits to such persons in respect of services provided the Company. (c) Neither the consummation of the transactions contemplated hereby alone, nor in combination with another event, with respect to each director, officer, employee and consultant of the Company, will result in (ai) any payment (including, without limitation, severance, unemployment compensation or bonus payments) becoming due from the Company (except as otherwise contemplated by this Agreement), (bii) any increase in the amount of compensation or benefits payable to any such individual, or (ciii) any acceleration of the vesting or timing of payment of compensation payable to any such individual. No agreement, arrangement or other contract of the Company provides benefits or payments contingent upon, triggered by, or increased as a result of a change in the ownership or effective control of the Company.

Stock Option Plans; Employee Benefits. (a1) the The Company has no stock option plans providing for the grant by the Company of stock options to directors, officers or employees. (b2) the The Company has no employee benefit plans or arrangements covering their present and former employees or providing benefits to such persons in respect of services provided the Company. (c3) Neither the consummation of the transactions contemplated hereby alone, nor in combination with another event, with respect to each director, officer, employee and consultant of the CompanyCompany or Subsidiary, will result in (a) any payment (including, without limitation, severance, unemployment compensation or bonus payments) becoming due from the Company (except as otherwise contemplated by this Agreement)or any Subsidiary, (b) any increase in the amount of compensation or benefits payable to any such individual, individual or (c) any acceleration of the vesting or timing of payment of compensation payable to any such individual. No agreement, arrangement or other contract of the Company or any Subsidiary provides benefits or payments contingent upon, triggered by, or increased as a result of a change in the ownership or effective control of the Company.