Accelerated or Continued Vesting Sample Clauses
The Accelerated or Continued Vesting clause defines circumstances under which an employee’s unvested equity awards, such as stock options or restricted stock units, become fully or partially vested sooner than originally scheduled, or continue to vest after certain events. Typically, this clause is triggered by events like a company acquisition, merger, or the employee’s termination without cause, allowing the employee to gain ownership of equity that would otherwise remain unvested. Its core practical function is to protect employees from losing potential equity benefits due to events beyond their control, thereby aligning incentives and providing financial security in the face of organizational changes.
Accelerated or Continued Vesting. The vesting of outstanding Units will be accelerated or continued under the circumstances provided below:
Accelerated or Continued Vesting a. Upon termination of your employment within the Restricted Period by reason of death or Disability (as defined in the Plan), the Restricted Period shall end upon such termination due to death or Disability, and the Restricted Stock will vest and no longer be subject to forfeiture.
b. Upon termination of your employment within the Restricted Period due to Retirement, if you continue to comply with the restrictive covenants in Section 4 below and Exhibit A, the Shares of Restricted Stock will continue to vest in accordance with the terms of this Agreement as if you had remained in employment with the Employer.
c. In the event of a Change in Control (as defined in the Plan), if this Award Agreement is not assumed by the surviving entity or otherwise equitably converted or substituted in connection with the Change in Control in a manner approved by the Committee or the Board, then the Shares of Restricted Stock shall immediately become fully vested and delivered to you. If this Award Agreement is assumed by the surviving entity or otherwise equitably converted or substituted in connection with the Change in Control in manner approved by the Committee or the Board, and if within two years after the effective date of the Change in Control, your employment with the surviving entity and all of its affiliates (the “employer”) is involuntarily terminated without Cause, then the Shares of Restricted Stock shall immediately become fully vested and delivered to you.
Accelerated or Continued Vesting. All unvested Units shall vest in full upon the occurrence of a Change in Control that occurs while you continue to be a Service Provider.
Accelerated or Continued Vesting. The vesting of outstanding Options will be accelerated or continued under the circumstances provided below:
Accelerated or Continued Vesting. The vesting of your outstanding Units will be accelerated in full upon a Change in Control in which you cease to be a Service Provider. In addition, the vesting of your outstanding Units will be accelerated in full immediately prior to the effective time of a Corporate Transaction that constitutes a Change in Control if this Award is not continued, assumed or replaced in connection with such Change in Control. For purposes of this Section 4(b)(3), this Award will be considered assumed or replaced under the circumstances specified in Section 12(b)(1) of the Plan.
Accelerated or Continued Vesting. Upon termination of your employment within the Restricted Period by reason of death or Disability (as defined in the Plan), the Restricted Period shall end upon such termination due to death or Disability, and the Restricted Stock will vest and no longer be subject to forfeiture.
Accelerated or Continued Vesting. Subject to Section 14 of this Agreement, vesting of outstanding Units (i) will be accelerated as provided in Section 6(e) of the Plan if your Service terminates due to your death or Disability; (ii) will continue as provided in Section 6(e) of the Plan if your Service terminates due to your Retirement; and (iii) will or may be accelerated in connection with a Change in Control under the circumstances and to the extent described in Sections 12(b) and 12(c) of the Plan, or at the discretion of the Committee in accordance with Section 3(b)(2) of the Plan.
Accelerated or Continued Vesting. The vesting and exercisability of this Stock Option will be accelerated or continued under the circumstances provided below:
Accelerated or Continued Vesting. Vesting and exercisability of this Option (i) will be accelerated as provided in Section 6(e) of the Plan if your Service terminates due to your death or Disability prior to the expiration of the Option; (ii) will continue as provided in Section 6(e) of the Plan if your Service terminates due to your Retirement prior to the expiration of the Option; and (iii) will or may be accelerated in connection with a Change of Control under the circumstances and to the extent described in Sections 12(b) and 12(c) of the Plan, or at the discretion of the Committee in accordance with Section 3(b)(2) of the Plan.
Accelerated or Continued Vesting a. Upon termination of your employment within the Restricted Period by reason of death or Disability (as defined in the Plan), the Restricted Period shall end upon such termination due to death or Disability, and the RSUs will vest and no longer be subject to forfeiture.
b. In the event of a Change in Control (as defined in the Plan), if this Award Agreement is not assumed by the surviving entity or otherwise equitably converted or substituted in connection with the Change in Control in a manner approved by the Committee or the Board, then the Restricted Stock Units shall immediately become fully vested and delivered to you. If this Award Agreement is assumed by the surviving entity or otherwise equitably converted or substituted in connection with the Change in Control in manner approved by the Committee or the Board, and if within two years after the effective date of the Change in Control, your employment with the surviving entity and all of its affiliates (the “employer”) is involuntarily terminated without Cause, then the Restricted Stock Units shall immediately become fully vested and delivered to you.