Common use of Continued Vesting Clause in Contracts

Continued Vesting. As a result of your continuous service as an employee, all your stock options to purchase the Company’s Common Stock shall continue to vest until the Transition Ending Date. After the Transition Ending Date, in accordance with the your stock option agreements (the “Option Agreements”) and the stock option plans under which your options were granted (the “Option Plans”), you will have ninety (90) days to exercise your vested stock options, subject to certain exceptions as set forth in the Option Agreements and Option Plans. Upon the Transition Ending Date, all of your unvested stock options will terminate immediately.

Appears in 1 contract

Sources: Transition Agreement (Questcor Pharmaceuticals Inc)

Continued Vesting. As a result of your continuous service as an employeeemployee during the Transition Period, all your stock options to purchase the Company’s Common Stock shall continue to vest until the Transition Ending Date. After the Transition Ending Date, in accordance with the your stock option agreements (the “Option Agreements”) and the stock option plans Company’s 2006 Equity Incentive Award Plan under which your options were granted (the “Option PlansPlan”), you will have ninety (90) days to exercise your vested stock options, subject to certain exceptions as set forth in the Option Agreements and Option PlansPlan. Upon the Transition Ending Date, all of your unvested stock options will terminate immediately.

Appears in 1 contract

Sources: Employment Agreement (Questcor Pharmaceuticals Inc)