ACCELERATED EXERCISE RIGHTS Sample Clauses
The Accelerated Exercise Rights clause allows a party, typically an employee or option holder, to exercise their stock options or rights to purchase shares earlier than the standard vesting schedule would normally permit. In practice, this means that under certain conditions—such as a company acquisition, merger, or other triggering events—the individual can purchase or claim their shares immediately, regardless of how much time has passed since the options were granted. This clause is designed to protect the interests of option holders by ensuring they are not disadvantaged by corporate events that could otherwise prevent them from realizing the value of their equity compensation.
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ACCELERATED EXERCISE RIGHTS. Notwithstanding periodic exercise rights, all of Executive's options that are not already exercisable in accordance with Sub-section 3(B)(i) shall become immediately exercisable at such time that the common stock of the Company trades at or above 37 and 5/8ths dollars per share (the "Target Price") as quoted on the securities exchange where the Company stock is currently being traded and during either of the two periods, chosen at the option of the Executive:
a. the closing price for the stock is at or above the Target Price for fifteen (15) consecutive trading days; or
b. the closing price for the stock is at or above the Target Price for twenty (20) out of any thirty (30) consecutive trading days. The determination of the Target Price during either of such periods shall be conclusive as reported by any independent financial reporting service, such as Reuters or Bloomberg Financial Markets.