Terminating Events. Subject to Section 7 hereof, upon the effective date of (i) the liquidation or dissolution of the Company or (ii) a merger or consolidation of the Company (a "Transaction"), the Option shall continue in effect in accordance with its terms and the Optionee shall be entitled to receive in respect of all Shares subject to the Option, upon exercise of the Option, the same number and kind of stock, securities, cash, property, or other consideration that each holder of Shares was entitled to receive in the Transaction.
Appears in 21 contracts
Samples: Nonqualified Stock Option Agreement (National Service Industries Inc), Nonqualified Stock Option Agreement (National Service Industries Inc), Incentive Stock Option Agreement (National Service Industries Inc)
Terminating Events. Subject to Section 7 hereof, upon the effective date of (i) the liquidation or dissolution of the Company or (ii) a merger or consolidation of the Company (a "Transaction"), the Option shall continue in effect in accordance with its terms and the Optionee shall be entitled to receive in respect of all Shares subject to the Option, upon exercise of the Option, the same number and kind of stock, securities, cash, property, property or other consideration that each holder of Shares was entitled to receive in the Transaction.
Appears in 17 contracts
Samples: Incentive Stock Option Agreement (National Service Industries Inc), Incentive Stock Option Agreement (National Service Industries Inc), Nonqualified Stock Option Agreement (National Service Industries Inc)
Terminating Events. Subject to Section 7 8 hereof, upon the effective date of (i) the liquidation or dissolution of the Company or (ii) a merger or consolidation of the Company (a "Transaction"), the Option shall continue in effect in accordance with its terms and the Optionee shall be entitled to receive in respect of all Shares subject to the Option, upon exercise of the Option, the same number and kind of stock, securities, cash, property, property or other consideration that each holder of Shares was entitled to receive in the Transaction.
Appears in 2 contracts
Samples: Stock Option Agreement (Plains Resources Inc), Stock Option Agreement (Plains Resources Inc)
Terminating Events. Subject to Section 7 hereof, upon the effective date of (i) the liquidation or dissolution of the Company or (ii) a merger or consolidation of the Company (a "Transaction"), the Option shall continue in effect in accordance with its terms and the Optionee shall be entitled to receive in respect of all Shares subject to the Option, upon exercise of the Option, the same number and kind of stock, securities, cash, property, property or other consideration considera- tion that each holder of Shares was entitled to receive in the Transaction.
Appears in 1 contract
Samples: Employment Agreement (United Americas Bankshares Inc)
