Restricted Stock Units and Stock Options. During Associate’s employment with the Company, Associate has been granted as a retention incentive certain restricted stock units and stock options. All unvested restricted stock units and any unvested stock options with a strike price less than 110% of the Company stock price on the day prior to the Change of Control shall be subject to accelerated vesting upon a Change of Control if the Change of Control results in either (i) ownership of the Company by a non-publicly traded entity such that the stock is no longer liquid or (ii) ownership of the Company by a publicly traded entity that has not agreed as part of any purchase and sale agreement to continue the Associate’s unvested restricted stock units and stock options in substantially the same form as existed immediately prior to the Change of Control.
Appears in 2 contracts
Sources: Associate Retention Agreement (Red Lion Hotels CORP), Associate Retention Agreement (Red Lion Hotels CORP)