Accelerated Vesting of Options. If: ------------------------------
(a) a Change of Control shall have occurred and the Executive's employment with the Company is terminated by the Executive for Good Reason; or
(b) during the period from ninety days prior to the commencement or public announcement of a Change of Control until two years after a Change of Control the Executive's employment with the Company is terminated by the Company other than for Cause; then all unvested options granted to the Executive by the Company or any successor entity prior to, simultaneously with or in connection with the Change of Control shall vest immediately prior to such termination of Employment.
Accelerated Vesting of Options. If Executive dies prior to the expiration of the Term, or if there is a “Change of Control” (as defined below) at SMG, Employer or Salem during the Term, any unvested or time-vested stock options previously granted to Executive by Employer shall become immediately one hundred percent (100%) vested as of the date of death or Change in Control.
Accelerated Vesting of Options. In the event of a Change in Control of the Company as defined in Article XII of Company's 2000 Stock, all unvested Options granted by the Company to Executive pursuant to Section 3.3 herein shall immediately become vested and Executive may exercise any or all of such Options in accordance with the terms and conditions of such Stock Option Plan.
Accelerated Vesting of Options. Notwithstanding any provision hereof ------------------------------ to the contrary, if a Change of Control (as defined below) occurs at any time prior to the third anniversary of this Agreement, and the Employee continues to be employed by the Company through the Change of Control Vesting Date (as defined below), then unvested Options shall become vested on the earlier of their normal vesting date or the Change of Control Vesting Date.
Accelerated Vesting of Options. Each Option is hereby amended to provide that it shall accelerate so that Employee shall have the right, at all times until the expiration or earlier termination of such Option, to exercise the unexercised portion of the Option, including the portions thereof which would otherwise not be exercisable, from and after any Involuntary Termination (as defined below) within twelve (12) months after a Change in Control (as defined below) that occurs while Employee is an employee of Videonics, any of its subsidiaries or any entity which assumes the rights and duties of Videonics under the Plans.
Accelerated Vesting of Options. If the Company enters into a transaction which is a Change in Control Transaction, then fifty percent (50%) of all options held by Executive as of the date of completion of the Change in Control Transaction shall become fully vested and exercisable (provided that such provision shall not apply if, as of such date, more than 50% of the options held by Executive are already fully vested).
Accelerated Vesting of Options. Notwithstanding anything to the contrary in the Existing Agreement, the Options or the 2001 and 2006 Plans,
(a) fifty percent (50%) of Employee’s then unvested option shares under the Options shall automatically vest upon the closing date of a Change of Control, if (i) Employee provides services to the Company as an employee or a consultant continuously through the closing date of such Change of Control or (ii) Employee’s employment with the Company ends by reason of an Involuntary Termination (as defined below) within three (3) months prior to the closing date of such Change of Control; and
(b) the remaining fifty percent (50%) of the then unvested option shares under the Options shall automatically vest should Employee’s employment be terminated by reason of an Involuntary Termination on or within twenty-four (24) months following the closing date of such Change of Control.
Accelerated Vesting of Options. In the event of a Change in Control, all of the options granted but not otherwise vested shall automatically vest so that the options shall, immediately prior to the effective date of the Change in Control, become fully exercisable for all of the options as fully vested shares of Common Stock and may be fully exercised for any or all of those vested shares. However, the options shall not vest on such an accelerated basis if and to the extent the options are, in connection with the Change in Control, assumed by the successor corporation (or parent thereof), replaced with a comparable option to purchase shares of the capital stock of the successor corporation (or parent thereof) or otherwise continued in full force and effect pursuant to the Change in Control transaction. The determination of option comparability shall be made by the Plan Administrator, and such determination shall be final, binding, and conclusive.
Accelerated Vesting of Options. Upon a Change of Control, all unvested options with respect to the Company’s stock held by the Executive shall vest and become immediately exercisable and shall be exercisable for a period ending on the later of (A) the fifth anniversary of the Change of Control Date or (B) the last date that such option would otherwise be exercisable under the terms of the option agreement or the plan pursuant to which such option was granted; provided, that in no event shall any option be exercisable after the expiration of the original term of the option.
Accelerated Vesting of Options. (i) SG was previously granted options to purchase 100,000 and 150,000 shares of the Company’s Common Stock at exercise prices of $0.001 and $0.01 per share, respectively. On the Effective Date, each of the aforementioned options shall be fully vested.
(ii) SG was granted an option to purchase 350,000 shares of the Company’s Common Stock, vesting monthly over 48 months, on August 22, 2005 (the “2005 Option”). As of a meeting between the Parties on August 25, 2006, 87,500 shares subject to the 2005 Option have vested, and 262,500 shares subject to the 2005 Option are unvested. Upon the Effective Date, the 2005 Option shall be amended such that SG shall be permitted to purchase 137,500 shares of the Company’s Common Stock, such 137,500 shall be considered fully vested, and no additional shares shall be subject to purchase under the 2005 Option.
