Common use of Acceleration of Vesting Schedule Clause in Contracts

Acceleration of Vesting Schedule. If there is a change of control of -------------------------------- the Parent, pursuant to which one single person or entity has control of the Parent (as control is understood under the Internal Revenue Code or securities laws of the US), in 1998, the vesting schedule on all options previously granted to the Executive will be accelerated so that a total of 50% of the Executive's options will be vested on the effective date of such merger or acquisition. The vesting schedule shall thereafter remain the same so that the remaining shares vest without giving effect to the shares which vested on an accelerated basis.