payment for giving up employee share options when a company is taken over?

A friend has had an option to buy some shares at work and these are
available for up to 10 years at the price at which she was orginally
offered them. The company has been bought out and has to give up her
right to buy them and the new company is giving the difference between
the price at which she was offered them and the market price today.
The funds have been paid into her salary but has been deducted tax
etc.

i) we assume it is the case that the profit is taxable
ii) does the money have to be paid this way or as it is to do with
shares could the money be asked to be deposited into a shares isa etc

Any advice appreciated.
Regards
Colin

.

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