Accelerated Vesting Upon Termination Sample Clauses
The Accelerated Vesting Upon Termination clause provides that an employee’s unvested equity, such as stock options or restricted stock units, will become fully or partially vested if their employment ends under certain conditions, like termination without cause or a change in company control. In practice, this means that if an employee is laid off or the company is acquired, they may immediately gain ownership of shares that would otherwise vest over a longer period. This clause primarily serves to protect employees from losing out on equity compensation due to circumstances beyond their control, ensuring they receive the benefits they have been working toward.
Accelerated Vesting Upon Termination. This provision shall not apply if the Executive is terminated by reason of death or Disability.
Accelerated Vesting Upon Termination. In the event of a termination of Executive’s employment pursuant to any of Section 3.1, Section 3.2, Section 3.3 or Section 3.4, Executive’s outstanding equity shall be subject to the following: (i) full vesting and either exercisability or settlement, as applicable, of all time-based equity grants regardless of grant date, including, without limitation, the Pre-IPO Awards and the IPO Restricted Stock Grant and (ii) full vesting and either exercisability or settlement, as applicable, of all performance-based equity grants based on satisfaction of applicable performance conditions within 12 months of Executive’s termination. All outstanding equity grants shall fully vest (and become exercisable or settled, as applicable) upon a Change of Control (as defined herein).
Accelerated Vesting Upon Termination. Notwithstanding the foregoing, 100% of the PSUs set forth in the Grant Notice will accelerate and vest upon the occurrence of a Qualifying Termination Event (as defined below) A “Qualifying Termination Event” is any of the following events:
Accelerated Vesting Upon Termination. Unless the Participant’s employment agreement with the Company provides otherwise, the following terms shall apply to this Option:
(i) Termination of Employment without Cause or for Good Reason. In the event of the Participant’s Termination by the Company without Cause or by the Participant for Good Reason, then the unvested portion of the Option that would have vested on the next anniversary of the Grant Date specified above shall immediately vest and become exercisable upon the date of such termination.
Accelerated Vesting Upon Termination. Notwithstanding the foregoing, subject to Section 4.4, one-hundred percent (100%) of any then-unvested PSUs will accelerate and vest upon the termination of Participant’s Service due to the Participant’s death or Disability (each, an “Accelerated Vesting Termination Event”).
Accelerated Vesting Upon Termination. Notwithstanding the foregoing, subject to Section 3.3, one-hundred percent (100%) of any then-unvested RSUs will accelerate and vest upon the occurrence of an Accelerated Vesting Termination Event. An “Accelerated Vesting Termination Event” is any of the following events:
Accelerated Vesting Upon Termination. In the event that Executive’s service ceases during the Term due to Executive’s death or Disability, Executive shall be entitled to the Accelerated Vesting upon such termination.
Accelerated Vesting Upon Termination. At or After a Change of Control.
(i) In the event Purchaser is involuntarily Terminated without Cause simultaneously with, or within twelve (12) months following, a Change of Control, and Purchaser signs and does not revoke a standard release of claims with the Company, then all of the remaining Unvested Shares, if any, shall be released from the Repurchase Option upon the Termination Date.
(ii) In the event Purchaser terminates his employment with the Company simultaneously with, or within twelve (12) months following, a Change of Control in accordance with paragraph (iii) below for Constructive Termination (as defined in Section 6.2(c) below), and Purchaser signs and does not revoke a standard release of claims with the Company, then all of the Unvested Shares, if any, shall be released from the Repurchase Option on an accelerated basis upon the Termination Date.
(iii) If Purchaser believes that a Constructive Termination has occurred, or is about to occur, Purchaser shall notify the Board of Directors of the Company that events constituting a Constructive Termination have occurred or are about to occur. The notice (the “Constructive Termination Notice”) shall be in writing, shall set forth the events that constitute the Constructive Termination, shall be delivered to the Company’s Board of Directors no later than 45 days after the event or events occur which Purchaser believes constitute a Constructive Termination and shall specifically state that it is the Constructive Termination Notice provided for in this Agreement. The Company shall have 30 days following the delivery of the Constructive Termination Notice to rescind the actions giving rise to the Constructive Termination. If Purchaser delivers the Constructive Termination Notice and the Company does not rescind the actions within 30 days following Purchaser’s delivery of the Constructive Termination Notice, then Purchaser shall have 30 days within which to Terminate his employment and cause the remaining Unvested Shares to vest as set forth in paragraph (b) above. Such 30 day period will begin on the 31st day after the date on which Purchaser delivers the Constructive Termination Notice to the Company, unless the Company and Purchaser agree in writing that such period shall start on a different date. If Purchaser either (i) fails to deliver the Constructive Termination Notice within the 45 day period described above or (ii) fails to resign within the 30 day period provided for in this paragraph fo...
Accelerated Vesting Upon Termination. Unless the Participant’s employment agreement with the Company provides otherwise, the following terms shall apply to this Option:
Accelerated Vesting Upon Termination. (a) If Executive’s employment is terminated by Company without Cause under 5 (a)(vi) above, or under Sections 5 (a)(i), (ii), (iii) above, then Executive shall have sixty days after any such event to exercise all vested Options.
(b) For the avoidance of doubt, the term “Restricted Stock” as used in this Agreement shall not include any shares of common stock beneficially owned by Executive that were not issued under an equity compensation plan or which are no longer subject to forfeiture under any Restricted Stock agreement with Company.