Common use of Subject to ss Clause in Contracts

Subject to ss. 2(b) above, in the event of a dissolution or liquidation of the Company or a merger or consolidation in which the Company is not the surviving corporation, the Employee shall, in such event, have the right, immediately prior to such dissolution, liquidation, merger or consolidation, to exercise this Option in whole or in part without regard to the installment provisions of Paragraph 2(a) above, unless this Option is assumed by the surviving or acquiring corporation, or its parent.