Termination of Company Stock Plans. The Company Stock Plans shall terminate as of the Effective Time, and the provisions in any other Company Employee Plan providing for the issuance, transfer or grant of any capital stock of the Company or any interest in respect of any capital stock of the Company shall terminate and be deleted as of the Effective Time or (if permissible) at Purchaser’s request, upon the initial acceptance of the shares of Company Common Stock pursuant to the Offer, and the Company shall ensure that following the Effective Time no holder of a Company Stock Option or any participant in any Company Stock Plan or other Company Employee Plan shall have any right thereunder to acquire any capital stock of the Company or the Surviving Corporation.
Appears in 3 contracts
Samples: Merger Agreement (Nortel Networks Inc.), Merger Agreement (Pec Solutions Inc), Merger Agreement (Nortel Networks LTD)
Termination of Company Stock Plans. The Company Stock Plans shall terminate as of the Effective Time, and the provisions in any other Company Employee Plan providing for the issuance, transfer or grant of any capital stock of the Company or any interest in respect of any capital stock of the Company shall terminate and be deleted as of the Effective Time or (if permissible) at Purchaser’s request, upon the initial acceptance of the shares of Company Common Stock pursuant to the OfferTime, and the Company shall use its commercially reasonable efforts to ensure that following the Effective Time no holder of a Company Stock Option or any participant in any Company Stock Plan or other Company Employee Plan shall have any right thereunder to acquire any capital stock of the Company or the Surviving Corporation.
Appears in 2 contracts
Samples: Merger Agreement (Bell Microproducts Inc), Merger Agreement (Avnet Inc)
Termination of Company Stock Plans. The Company Stock Plans shall terminate as of the Effective Time, and the provisions in any other Company Employee Plan providing for the issuance, transfer or grant of any capital stock of the Company or any interest in respect of any capital stock of the Company shall terminate and be deleted as of the Effective Time or (if permissible) at Purchaser’s the Merger Sub's request, upon the initial acceptance of the shares of Company Common Stock Shares pursuant to the Offer, and the Company shall ensure that following the Effective Time no holder of a Company Stock Option or any participant in any Company Stock Plan or other Company Employee Plan shall have any right thereunder to acquire any capital stock of the Company or the Surviving Corporation.
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Termination of Company Stock Plans. The Company Stock Plans shall ---------------------------------- terminate as of the Effective Time, and the provisions in any other Company Employee Plan providing for the issuance, transfer or grant of any capital stock of the Company or any interest in respect of any capital stock of the Company shall terminate and be deleted as of the Effective Time or (if permissible) at Purchaser’s the Merger Sub's request, upon the initial acceptance of the shares of Company Common Stock Shares pursuant to the Offer, and the Company shall ensure that following the Effective Time no holder of a Company Stock Option or any participant in any Company Stock Plan or other Company Employee Plan shall have any right thereunder to acquire any capital stock of the Company or the Surviving Corporation.
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