Common use of Accelerated Vesting Upon Termination Clause in Contracts

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).