Accelerated Vesting for Certain Terminations. If the Optionee ceases to be employed by the Company (and its Affiliates, as applicable) after the first anniversary of the Effective Date of Grant and prior to the Second Anniversary as a result of: (i) his or her Disability, or (ii) his or her death, then the Option will vest and become exercisable with respect to twenty five percent (25%) of the Option Shares and will remain exercisable for the applicable time period provided in Section 5.
Appears in 5 contracts
Samples: Employment Agreement (Innovative Software Technologies Inc), Non Qualified Stock Option Agreement (Five Below, Inc), Non Qualified Stock Option Agreement (Five Below, Inc)
Accelerated Vesting for Certain Terminations. If the Optionee ceases to be employed by the Company (and its Affiliates, as applicable) after the first anniversary of the Effective Date of Grant and prior to the Second Anniversary as a result of: (i) his or her Disability, or (ii) his or her deathdeath or (iii) a termination by the Company without Cause, then the Option will vest and become exercisable with respect to twenty five percent (25%) of the Option Shares and will remain exercisable for the applicable time period provided in Section 5.
Appears in 2 contracts
Samples: Non Qualified Stock Option Agreement (Five Below, Inc), Non Qualified Stock Option Agreement (Five Below, Inc)
Accelerated Vesting for Certain Terminations. If the Optionee ceases to be employed by the Company (and its Affiliates, as applicable) after the first anniversary of the Effective Date of Grant and prior to the Second Anniversary as a result of: (i) his or her Disability, or (ii) his or her deathdeath or (iii) a termination by the Company (or its Affiliate(s), as applicable) without Cause, then the Option will vest and become exercisable with respect to twenty five percent (25%) of the Option Shares and will remain exercisable for the applicable time period provided in Section 5.
Appears in 2 contracts
Samples: Non Qualified Stock Option Agreement (Five Below, Inc), Non Qualified Stock Option Agreement (Five Below, Inc)
Accelerated Vesting for Certain Terminations. If the Optionee ceases to be employed by the Company (and its Affiliates, as applicable) after the first anniversary of the Effective Date of Grant and prior to the Second Anniversary as a result of: (i) his or her Disability, or (ii) his death or her death(iii) a termination by the Company without Cause, then the Option will vest and become exercisable with respect to twenty five percent (25%) of the Option Shares and will remain exercisable for the applicable time period provided in Section 5.
Appears in 1 contract
Samples: Non Qualified Stock Option Agreement (Five Below, Inc)