Common use of Termination of Existing Options Clause in Contracts

Termination of Existing Options. Immediately prior to the Effective Time, the stock options set forth on Exhibit B granted to the Optionee pursuant to any of the Company's stock option plans and any stock option agreement entered into in connection therewith shall be terminated in their entirety and be of no further force and effect. In addition, the Optionee irrevocably waives any and all rights and benefits the Optionee has thereunder.

Appears in 4 contracts

Samples: Stock Option Agreement (Signal Medical Services), Stock Option Agreement (Signal Medical Services), Stock Option Agreement (Signal Medical Services)

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