Target Options. (i) Prior to the Effective Time, Target shall cause all stock options (“Target Stock Options”) issued pursuant to the Target Benefit Plans listed on Section 4.11(a)(1) of the Target Disclosure Letter to be vested and shall cancel such Target Stock Options immediately prior to the Effective Time for consideration equal to the difference between (1) the product of (I) Common Conversion Consideration Value times (II) the number of Target Common Shares issuable upon exercise of such Target Stock Option minus (2) the aggregate exercise price of such Stock Option, and if such Target Stock Options are not exercised prior to the Effective Time, such options shall terminate as of the Effective Time. “
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Samples: Agreement and Plan of Merger (Plains Exploration & Production Co), Agreement and Plan of Merger (Stone Energy Corp)
Target Options. (i) Prior to the Effective Time, Target shall cause all each of the stock options (“"Target Stock Options”") issued pursuant to the Target Benefit Plans listed on Section 4.11(a)(1) of the Target Disclosure Letter to be vested and shall cancel each such Target Stock Options Option immediately prior to the Effective Time for consideration equal to the difference between excess, if any, of (1) the product of (I) Common Conversion the Per Share Cash Consideration Value times (II) the number of Target Common Shares issuable upon exercise of such Target Stock Option minus over (2) the aggregate exercise price of such Target Stock OptionOptions, and if such Target Stock Options are not exercised prior to the Effective Time, such options shall terminate as of the Effective Time. “.
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Target Options. (i) Prior to the Effective Time, Target shall cause all each of the stock options (“Target Stock Options”) issued pursuant to the Target Benefit Plans listed on Section 4.11(a)(1) of the Target Disclosure Letter to be vested and shall cancel each such Target Stock Options Option immediately prior to the Effective Time for consideration equal to the difference between excess, if any, of (1) the product of (I) Common Conversion the Per Share Cash Consideration Value times (II) the number of Target Common Shares issuable upon exercise of such Target Stock Option minus over (2) the aggregate exercise price of such Target Stock OptionOptions, and if such Target Stock Options are not exercised prior to the Effective Time, such options shall terminate as of the Effective Time. “.
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