Common use of A Change in Control Clause in Contracts

A Change in Control. In the event of the Participant’s Termination of Service following a Change in Control, all unvested Options held by the Participant will expire and be forfeited. Vested Options will be exercisable for one (1) year following the date of Involuntary Termination following a Change in Control. A “Change in Control” will be deemed to have occurred as provided in Section 4.2 of the Plan.

Appears in 1 contract

Sources: Stock Option Agreement (Carver Bancorp Inc)

A Change in Control. In the event of the Participant’s Termination of Service following a Change in Control, all unvested Options held by the Participant will expire and be forfeited. Vested Options will be exercisable for one (1) year following the date of Involuntary Termination following a Change in Control. A “Change in Control” will be deemed to have occurred as provided in Section 4.2 of the Plan.

Appears in 1 contract

Sources: Stock Option Agreement (Carver Bancorp Inc)