Common use of Outstanding Stock Options Clause in Contracts

Outstanding Stock Options. The Offeror acknowledges and agrees that: (a) the Board of Directors may resolve to permit all persons holding Options, which by their terms are otherwise currently exercisable or not, to exercise or terminate such Options concurrent with the expiry of the Offer, including by causing the vesting thereof to be accelerated; (b) it shall agree with the Company to tendering arrangements in respect of the Offer in order to facilitate the conditional exercise or termination of the Options and tender of the Shares to be issued as a result of such conditional exercise or termination (including providing for the ability of holders of Options to tender their Options or to tender Shares on the basis of guaranteed deliveries); and (c) (i) holders of Options will be permitted to tender Shares issuable thereunder and for such purpose to exercise or terminate their Options, conditional upon the Offeror taking up and paying for the Shares under the Offer, which Options shall be deemed to have been exercised concurrently with the take-up of Shares and (ii) all Shares that are to be issued pursuant to any such conditional exercise or termination shall be accepted as validly tendered under the Offer, provided that the holders of such Options indicate that the Shares are tendered pursuant to the Offer and otherwise validly accept the Offer in accordance with their terms with respect to such Shares.