Termination of Option Plans Sample Clauses

Termination of Option Plans. Except as may otherwise be agreed in writing by Merger Sub and the Company, the Company Stock Option Plans shall terminate as of the Effective Time, and no holder of Company Stock Options or any participant in the Company Stock Option Plans shall have any rights thereunder to acquire any equity securities of the Company, the Surviving Corporation or any subsidiary thereof.
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Termination of Option Plans. Prior to the Effective Date, Vista --------------------------- will (i) terminate any and all stock option, stock purchase or other plans or arrangements providing for the grant to any person or entity of any option or other right to purchase or otherwise acquire any securities of Vista, and (ii) provide to Peritus evidence reasonably satisfactory to Peritus of such termination.
Sample 1
Termination of Option Plans. At or prior to the Effective Time, the Company and the Company Board shall adopt any resolutions and take any actions (including obtaining any participant consents) that may be necessary to effectuate the provisions of clause (i) of this Section 1.9(c), and shall terminate all of the Company Option Plans, effective as of, and subject to the occurrence of, the Effective Time. As of the Effective Time, all Company Options shall automatically cease to exist, and each holder of a Company Option shall cease to have any rights with respect thereto, except the right to receive payment pursuant to this Section 1.9.
Sample 1
Termination of Option Plans. The Company’s Board of Directors will have passed and not rescinded resolutions effectively terminating any Incentive Stock Option Plans or similar equity incentive plans implemented by the Company immediately prior to the Closing and no rights to purchase or acquire any of the Company’s securities will remain outstanding.
Sample 1

Related to Termination of Option Plans

  • Termination of Options The Options, which become exercisable as provided in paragraphs 3 and 4 above, shall terminate and be of no force or effect as follows:

  • Termination of Option (a) Any unexercised portion of the Option shall automatically and without notice terminate and become null and void at the time of the earliest to occur of:

  • Termination of 401(k) Plan The Company agrees to terminate its 401(k) plan immediately prior to the Closing, unless Parent, in its sole and absolute discretion, agrees to sponsor and maintain such plan by providing the Company with notice of such election at least five days before the Effective Time.

  • Termination of Option and Accelerated Vesting This Option will terminate upon the expiration date, except as set forth in the following provisions:

  • Expiration of Options Except as otherwise provided in Section 5 or 6 of the Management Stockholder's Agreement, the Options may not be exercised to any extent by the Optionee after the first to occur of the following events:

  • Early Termination of Option The Option, to the extent not previously exercised, and all other rights in respect thereof, whether vested and exercisable or not, shall terminate and become null and void prior to the Expiration Date in the event of: • the termination of the Participant’s employment or services as provided in Section 5.6 of the Plan, or • the termination of the Option pursuant to Section 7.3 of the Plan.

  • Expiration of Option The Option may not be exercised to any extent by anyone after the first to occur of the following events:

  • Exercisability of Options Options granted under the Plan shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall determine in its sole discretion. After an Option is granted, the Committee, in its sole discretion, may accelerate the exercisability of the Option.

  • Duration of Option The Option shall be exercisable to the extent and in the manner provided herein for a period of ten (10) years from the Grant Date (the "Exercise Term"); provided, however, that the Option may be earlier terminated as provided in Section 6 hereof.

  • Termination of Benefit Plans Effective as of the day immediately preceding the Closing Date, the Company shall terminate all Company Employee Plans that are “employee benefit plans” subject to ERISA including any Company Employee Plans intended to include a Code Section 401(k) arrangement (unless Buyer provides written notice to the Company no later than three Business Days prior to the Closing Date that such 401(k) plans shall not be terminated). Unless Buyer provides such written notice to the Company, no later than three Business Days prior to the Closing Date, the Company shall provide Buyer with evidence that such Company Employee Plan(s) have been terminated (effective no later than the day immediately preceding the Closing Date) pursuant to resolutions of the Company Board. The form and substance of such resolutions shall be subject to review and approval of Buyer. The Company also shall take such other actions in furtherance of terminating such Company Employee Plan(s) as Buyer may reasonably require. In the event that termination of the Company’s 401(k) Plan would reasonably be anticipated to trigger liquidation charges, surrender charges or other fees then the Company shall take such actions as are necessary to reasonably estimate the amount of such charges and/or fees and provide such estimate in writing to Buyer no later than ten Business Days prior to the Closing Date.

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