Just saying……….
Change of control provisions
Listed issuers may consider it appropriate to include certain provisions in the event that there is a change of control, for example, as a result of a take-over bid for the listed issuer. Most change of control provisions provide for, or permit the board of directors (or authorized board committee) to authorize, the accelerated vesting of all options or other entitlements. This allows participants to tender their securities to the bid. Some change of control provisions also provide for the cashless exercise of options upon or following a change of control event. Any such provision should define change of control events.
http://www.tmx.com/en/pdf/SBCA_guide.pdf