Common use of Accelerated Vesting Upon Termination Clause in Contracts

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. Unless the If a Participant’s employment agreement with the Company provides otherwise, the following terms shall apply to this Option: or its affiliates is terminated (i) Termination of Employment without Cause or for Good Reason. In the event of the Participant’s Termination by the Company without Cause or Cause, (ii) by the such Participant for Good ReasonReason (applicable only if the Participant is party to an employment agreement with a Good Reason concept) or (iii) due to such Participant’s death or Disability during employment (any such termination, then the unvested a “Qualifying Termination”), a portion of the Option that would have vested on the next anniversary of the Grant Date specified above shall immediately Emergence Grants will vest or remain outstanding and become exercisable upon the date of such termination.eligible to vest, as applicable, as follows: •