Common use of Acquisition Events Clause in Contracts

Acquisition Events. Except to the extent otherwise provided herein or in any other agreement between the Optionee and the Company, upon the occurrence of an Acquisition Event (as hereinafter defined), fifty percent (50%) of the portion of this Option then outstanding and unvested, shall become vested and immediately exercisable upon the occurrence of the Acquisition Event or such earlier date as may be specified by the Board by written notice to the Optionee, and, as applicable, the Board may take one or both of the following additional actions with respect to the Option: (i) provide that such Option shall be assumed, or equivalent Options be substituted by the acquiring or succeeding corporation (or an affiliate thereof), or (ii) upon written notice to the Optionee, provide that all the unexercised portion of the Option, or, in the Board's discretion, such portions thereof as become vested solely by reason of this provision, will terminate to the extent not exercised by the Optionee prior to the consummation of such Acquisition Event or such earlier date as may be specified by the Board by written notice to Optionee.

Acquisition Events. Except to the extent otherwise provided herein or in any other agreement between the Optionee and the Company, upon the occurrence of an Acquisition Event (as hereinafter defined), fifty percent (50percent(50%) of the portion of this Option then outstanding and unvested, shall become vested and immediately exercisable upon the occurrence of the Acquisition Event or such earlier date as may be specified by the Board by written notice to the Optionee, and, as applicable, the Board may take one or both of the following additional actions with respect to the Option: (i) provide that such Option shall be assumed, or equivalent Options be substituted by the acquiring or succeeding corporation (or an affiliate thereof), or (ii) upon written notice to the Optionee, provide that all the unexercised portion of the Option, or, in the Board's ’s discretion, such portions thereof as become vested solely by reason of this provision, will terminate to the extent not exercised by the Optionee prior to the consummation of such Acquisition Event or such earlier date as may be specified by the Board by written notice to Optionee.