Common use of Assumption or Replacement Clause in Contracts

Assumption or Replacement. For purposes of this Section 8, this Stock Option Award will be considered assumed or replaced if, in connection with the Change of Control transaction and in a manner consistent with Code Section 409A, either (i) the contractual obligations represented by this Award are expressly assumed by the surviving or acquiring entity (or its parent entity) with appropriate adjustments to the number and type of securities subject to this Award and the exercise price thereof that preserves the intrinsic value of this Award existing at the time of the Change of Control transaction, or (ii) you have received a comparable option award that preserves the intrinsic value of this Award existing at the time of the Change of Control transaction and is subject to substantially similar terms and conditions as this Award.