Common use of Consequences of an Acquisition Clause in Contracts

Consequences of an Acquisition. In the event of an Acquisition, AND (i) the successor (a "Successor To The Business") fails to assume the obligations of the Company under this Agreement or (ii) Employee's employment is (x) at the time of the Acquisition terminated by the Company without cause or (y) terminated by any Successor To The Business without Cause or the Employee terminates his employment for Good Reason (as defined in the Employment Agreement) and, in any such event, the Employee signs a comprehensive release in the form and of a scope acceptable to the Company, then the options granted hereby will become exercisable in full on the date of the Acquisition (in the case of (i)) or such termination (in the case of (ii)) PROVIDED, HOWEVER, that if an event described in this Section 13(a) occurs (x) before November 23, 2000, then only the first 150,000 options granted hereby will vest on the date of such termination and the remaining 350,000 options will be canceled, and any other option to purchase stock of the Company will be canceled or (y) after November 23, 2000 but before November 23, 2001, then only the first 325,000 options granted hereby will vest on the date of such termination and the remaining 175,000 options will be canceled, and any other option to purchase stock of the Company will be canceled.

Consequences of an Acquisition. In the event of an Acquisition, AND (i) the successor (a "Successor To The Business") fails to assume the obligations of the Company under this Agreement or (ii) Employee's employment is (x) at the time of the Acquisition terminated by the Company without cause or (y) terminated by any Successor To The Business without Cause or the Employee terminates his employment for Good Reason (as defined in the Employment Agreement) and, in any such event, the Employee signs a comprehensive release in the form and of a scope acceptable to the Company, then the options granted hereby will become exercisable in full on the date of the Acquisition (in the case of (i)) or such termination (in the case of (ii)) PROVIDED, HOWEVER, that if an event described in this Section 13(a) occurs (x) before November 23August 9, 2000, then only the first 150,000 options granted hereby will vest on the date of such termination and the remaining 350,000 options will be canceled, and any other option to purchase stock of the Company will be canceled or (y) after November 23, 2000 but before November 23, 2001, then only the first 325,000 options granted hereby will vest on the date of such termination and the remaining 175,000 options will be canceled, and any other option to purchase stock of the Company will be canceled.