Substitute Options. For the purpose of this paragraph 6(b), a "Substitute Option" shall mean an option to purchase voting common stock of the corporation surviving the merger, consolidation or share exchange (or, if appropriate, the Parent of such surviving corporation) appropriate to protect the rights of the Optionee under this Option. If the Committee makes provision for the issuance of a Substitute Option, the Option will expire upon such issuance, and will not be accelerated or canceled pursuant to this paragraph 6(b).
Appears in 2 contracts
Sources: Nonstatutory Stock Option Agreement (Allaire Corp), Nonstatutory Stock Option Agreement (Allaire Corp)