Common use of Other Alternatives Clause in Contracts

Other Alternatives. Notwithstanding the foregoing, subject to subsection (e) below, in the event of a Change of Control, the Board may take one or both of the following actions: the Board may (i) require that the Holder surrender this Warrant in exchange for a payment by the Company, in cash or Common Stock as determined by the Board, in an amount equal to the amount by which the then Fair Market Value of the Shares subject to this Warrant exceeds the aggregate Exercise Price of the Shares, or (ii) after giving the Holder an opportunity to exercise this Warrant, terminate any or all rights to purchase Shares unexercised at such time as the Board deems appropriate. Such surrender or termination shall take place as of the date of the Change of Control or such other date as the Board may specify.