Common use of Accelerated Vesting of Options Clause in Contracts

Accelerated Vesting of Options. Notwithstanding anything to the contrary in the Existing Agreement, the Options or the 2001 and 2006 Plans, (a) fifty percent (50%) of Employee’s then unvested option shares under the Options shall automatically vest upon the closing date of a Change of Control, if (i) Employee provides services to the Company as an employee or a consultant continuously through the closing date of such Change of Control or (ii) Employee’s employment with the Company ends by reason of an Involuntary Termination (as defined below) within three (3) months prior to the closing date of such Change of Control; and (b) the remaining fifty percent (50%) of the then unvested option shares under the Options shall automatically vest should Employee’s employment be terminated by reason of an Involuntary Termination on or within twenty-four (24) months following the closing date of such Change of Control.