Common use of Accelerated Vesting and Exercisability Clause in Contracts

Accelerated Vesting and Exercisability. If (i) any person or entity other than the Company and/or any officer, director or principal stockholder (i.e., a holder [beneficially or of record] of more than ten percent of the Company's voting stock) of the Company acquires securities of the Company (in one or more transactions) having 25% or more of the total voting power of all the Company's securities then outstanding and (ii) the Board of Directors of the Company does not authorize or otherwise approve such acquisition, then the vesting periods of the Option shall be accelerated and the Option shall immediately and entirely vest. In such event, Employee shall have the immediate right to purchase all the Option Shares, subject to the provisions of this Agreement.

Accelerated Vesting and Exercisability. If (i) any person or entity other than the Company and/or any officer, director or principal stockholder (i.e., a holder [beneficially or of record] of more than ten percent of the Company's voting stock) stockholders of the Company acquires as of the Effective Date acquire securities of the Company (in one or more transactions) having 25% or more of the total voting power of all the Company's securities then outstanding and (ii) the Board of Directors of the Company does not authorize or otherwise approve such acquisition, then then, the vesting periods of any and all Options and other awards granted and outstanding under the Option Plan shall be accelerated and the Option shall all such Options and awards will immediately and entirely vest. In such event, Employee shall and the respective holders thereof will have the immediate right to purchase and/or receive any and all the Option Shares, Stock subject to such Options and awards on the provisions of terms set forth in this AgreementPlan and the respective agreements respecting such Options and awards. Section 12.

Accelerated Vesting and Exercisability. If (i) any person or entity other than the Company and/or any officer, director or principal stockholder (i.e., a holder [beneficially or of record] of more than ten percent of the Company's voting stock) of the Company acquires securities of the Company (in one or more transactions) having 25% or more of the total voting power of all the Company's securities then outstanding and (ii) the Board of Directors of the Company does not authorize or otherwise approve such acquisition, then the vesting periods of the Option shall be accelerated and the Option shall immediately and entirely vest. vest In such event, Employee shall have the immediate right to purchase all the Option Shares, subject to the provisions of this Agreement.