Common use of Special Acceleration of Option Clause in Contracts

Special Acceleration of Option. In the event of a Corporate Transaction, the Board or Committee may, in its discretion, (i) provide for the assumption or substitution of, or adjustment to, this Option; (ii) accelerate the vesting of this Option; and/or (iii) provide for termination of this Option as a result of the Corporate Transaction on such terms and conditions as it deems appropriate, including providing for the cancellation of this Option for a cash payment to Optionee. If this Option becomes fully vested and exercisable in the event of a Corporate Transaction, the Administrator shall notify the Optionee in writing or electronically that this Option shall be fully vested and exercisable for a period of fifteen (15) days from the date of such notice, and this Option shall terminate upon the expiration of such period.

Special Acceleration of Option. In the event of a Corporate Transaction, this Option shall be assumed or an equivalent option substituted by the Board successor corporation or Committee may, in its discretion, (i) provide a Parent or Subsidiary of the successor corporation. In the event that the successor corporation refuses to assume or substitute for the assumption or substitution of, or adjustment to, this Option; (ii) accelerate , the vesting of this Option; and/or (iii) provide for termination of Optionee shall fully vest in and have the right to exercise this Option as a result to all of the Corporate Transaction on such terms and conditions as it deems appropriateOptioned Shares, including providing Optioned Shares for the cancellation of which this Option for a cash payment to Optioneeis not otherwise exercisable. If this an Option becomes fully vested and exercisable in lieu of assumption or substitution in the event of a Corporate Transaction, the Administrator shall notify the Optionee in writing or electronically that this Option shall be fully vested and exercisable for a period of fifteen (15) days from the date of such notice, and this Option shall terminate upon the expiration of such period.

Special Acceleration of Option. In the event of a Corporate Transaction, this Option shall be assumed or an equivalent option substituted by the Board successor corporation or Committee may, in its discretion, (i) provide a Parent or Subsidiary of the successor corporation. In the event that the successor corporation refuses to assume or substitute for the assumption or substitution of, or adjustment to, this Option; (ii) accelerate , the vesting of this Option; and/or (iii) provide for termination of Optionee shall fully vest in and have the right to exercise this Option as a result to all of the Corporate Transaction on such terms and conditions as it deems appropriateOptioned Shares, including providing Optioned Shares for the cancellation of which this Option for a cash payment to Optioneeis not otherwise exercisable. If this an Option becomes fully vested and exercisable in lieu of assumption or substitution in the event of a Corporate Transactionmerger or sale of assets, the Administrator shall notify the Optionee in writing or electronically that this Option shall be fully vested and exercisable for a period of fifteen (15) days from the date of such notice, and this Option shall terminate upon the expiration of such period.