Common use of Alternative Options Clause in Contracts

Alternative Options. Notwithstanding Sections 9(a), 9(b) and 9 ------------------- (c) hereof, no cash settlement or other payment shall be made with respect to any Option in the event that the transaction constituting the Change in Control is accounted for using the "pooling of interest" method of accounting. In such event, the portion of each Option then held by the Grantee that, but for the provisions of this paragraph (d), would have been settled for cash pursuant to paragraphs (a) or (b) of this Section 9 in connection with the Change in Control, shall become fully vested immediately prior to the consummation of such transaction and the Grantee shall have the right, subject to compliance with all applicable securities laws, to (i) exercise such portion of the Options in - connection with the Change in Control or (ii) provided such opportunity is made -- available by the New Employer, exchange such portion of the Options for fully exercisable options to purchase common stock of the New Employer having substantially equivalent economic value to the Options being exchanged therefor (determined at the time of the Change in Control).