Common use of Accelerated or Continued Vesting Clause in Contracts

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.

Appears in 2 contracts

Sources: Restricted Stock Unit Award Agreement (FGI Industries Ltd.), Restricted Stock Unit Award Agreement (Miromatrix Medical Inc.)