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This excerpt taken from the AN DEF 14A filed Mar 23, 2009. Change in
Control
We have not entered into any “change in control”
agreements with any of our named executive officers. However,
under our equity compensation plans, in the event of a
“change in control” (as defined in our equity
compensation plans and related agreements), all outstanding
stock options held by such executive shall become immediately
exercisable in full and, unless waived in advance of such change
in control by our Board, such executive shall have the right to
require us to pay, in cancellation of options, an amount equal
to the product of (i) the excess of (a) the fair
market value per share of the stock over (b) the option
price times (ii) the number of shares of stock specified by
such executive in a written notice to us. Additionally, in such
case, all unvested shares of restricted stock shall immediately
vest.
This excerpt taken from the AN DEF 14A filed Mar 27, 2008. Change in
Control
We have not entered into any “change in control”
agreements with any of our named executive officers. However,
under our stock option plans, in the event of a “change in
control” (as defined in our stock option plans), all
outstanding options held by such executive shall become
immediately exercisable in full and, unless waived in advance of
such change in control by our Board, such executive shall have
the right to require us to pay, in cancellation of options, an
amount equal to the product of (i) the excess of
(a) the fair market value per share of the stock over
(b) the option price times (ii) the number of shares
of stock specified by such executive in a written notice to us.
Accordingly, the following tables disclose the value of unvested
stock options realized by each of our named executive officers
in connection with a “change in control” based on the
excess of $15.66, the closing price on the last business day of
2007, over the exercise price times the number of outstanding
options held by such executive.
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