Common use of Treatment of Company Options Clause in Contracts

Treatment of Company Options. At the Effective Time, each outstanding option to purchase Shares (a “Company Option”) granted under the Stock Plan, whether vested or unvested, shall, automatically and without any action on the part of the holder thereof, fully vest and shall be cancelled and converted into the right to receive (without interest), as soon as reasonably practicable following the Effective Time, an amount in cash equal to the product of (i) the number of Shares subject to the Company Option immediately prior to the Effective Time multiplied by (ii) the excess, if any, of (A) the Merger Consideration over (B) the exercise price per Share of such Company Option. Any Company Option that has an exercise price per Share that is greater than or equal to the Merger Consideration shall be cancelled at the Effective Time for no consideration or payment.

Treatment of Company Options. At the Effective Time, each then outstanding option to purchase Shares (a “Company Option”) granted under the Stock Plan), whether vested or unvested, shall, automatically and without any action on the part of the holder thereof, fully vest and shall be cancelled and converted into the right to receive (without interest), as soon as reasonably practicable at the time of the first regularly scheduled payroll date that is at least five Business Days following the Effective Time, an amount in cash equal to the product of (i) the number of Shares subject to the Company Option immediately prior to the Effective Time multiplied by (ii) the excess, if any, of (A) the Merger Consideration over (B) the exercise price per Share of such Company Option. Any Each Company Option that has an for which the exercise price per Share that is equal to or greater than or equal to the Merger Consideration shall be cancelled at the Effective Time for no consideration or paymentClosing without payment of consideration.

Treatment of Company Options. At the Effective Time, each outstanding option to purchase Shares (a “Company Option”) granted under the Stock PlanPlans, whether vested or unvested, shall, automatically and without any action on the part of the holder thereof, fully vest and shall be cancelled and converted into the right to receive (without interest), as soon as reasonably practicable (but not more than thirty (30) calendar days) following the Effective Time, an amount in cash equal to the product of (i) the number of Shares subject to the Company Option immediately prior to the Effective Time multiplied by (ii) the excess, if any, of (A) the Merger Consideration over (B) the exercise price per Share of such Company Option. Any Company Option that has an exercise price per Share that is greater than or equal to the Merger Consideration shall be cancelled at the Effective Time for no consideration or payment.

Treatment of Company Options. At (a) As of the Effective Time, each Company Option that is then outstanding option to purchase Shares (a “Company Option”) granted under the Stock Planand unexercised, whether vested or unvestednot vested, shall, automatically and without any action on the part of the holder thereof, fully vest and shall be cancelled and converted into the right to receive (without interest), as soon as reasonably practicable following the Effective Time, cash in an amount in cash equal to the product of (i) the total number of Shares shares of Company Common Stock subject to the such Company Option immediately prior to the Effective Time (without regard to vesting) multiplied by (ii) the excess, if any, of (Ax) the Merger Consideration over (By) the exercise price payable per Share share of Company Common Stock under such Company Option, which amount shall be paid in accordance with Section 1.8(b). Any No holder of a Company Option that has an exercise price per Share share of Company Common Stock that is equal to or greater than or equal to the Merger Consideration shall be entitled to any payment with respect to such cancelled at Company Option before or after the Effective Time for no consideration or paymentTime.

Treatment of Company Options. At the Effective Time, each then outstanding option to purchase Shares (a “Company Option”) granted under the Stock PlanPlans, whether vested or unvested, shall, automatically and without any action on the part of the holder thereof, fully vest and shall be cancelled and converted into the right to receive (without interest), as soon as reasonably practicable within five Business Days following the Effective Time, an amount in cash equal to the product of (i) the number of Shares subject to the Company Option immediately prior to the Effective Time multiplied by (ii) the excess, if any, of (A) the Merger Consideration over (B) the exercise price per Share of such Company Option. Any Each Company Option that has an for which the exercise price per Share that is equal to or greater than or equal to the Merger Consideration shall be cancelled at the Effective Time for no consideration or paymentClosing without payment of consideration.