Common use of Accelerated Vesting of Options; Restricted Stock Clause in Contracts

Accelerated Vesting of Options; Restricted Stock. Then-outstanding and unvested stock options in Company common stock, stock appreciation rights and similar equity awards held by Executive (“Options”) will immediately vest and become exercisable as to all shares underlying such Options. The Options will remain exercisable following the termination for the period prescribed in the respective option agreement, which will not extend past the term of each Option. Additionally, any shares of restricted stock, restricted stock units and similar equity awards (“Restricted Stock”) then-held by Executive will immediately vest and the applicable Company right of repurchase or reacquisition with respect to such shares of Restricted Stock will lapse as to all such shares.

Appears in 3 contracts

Samples: Employment and Severance Agreement, Employment and Severance Agreement (Fluidigm Corp), Employment and Severance Agreement (Fluidigm Corp)

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Accelerated Vesting of Options; Restricted Stock. Then-outstanding and unvested stock options in Company common stock, stock appreciation rights and similar equity awards held by Executive (“Options”) will immediately vest and become exercisable as to an all shares underlying such Options. The Options will remain exercisable following the termination for the period prescribed in the respective option agreement, which will not extend past the term of each Option. Additionally, any shares of restricted stock, restricted stock units and similar equity awards (“Restricted Stock”) then-held by Executive will immediately vest and the applicable Company right of repurchase or reacquisition with respect to such shares of Restricted Stock will lapse as to all such shares.

Appears in 3 contracts

Samples: Agreement and Plan of Reorganization (Digerati Technologies, Inc.), Employment and Severance Agreement (Fluidigm Corp), Employment and Severance Agreement (Fluidigm Corp)

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Accelerated Vesting of Options; Restricted Stock. Then-outstanding and unvested stock options in Company common stock, stock appreciation rights and similar equity awards held by Executive (“Options”) will immediately vest and become exercisable as to all fifty percent (50%) of the unvested shares underlying such OptionsOptions (the “Option Acceleration Amount”). The Options will remain exercisable following the termination for the period prescribed in the respective option agreement, which will not extend past the term of each Option. Additionally, fifty percent (50%) of any shares of restricted stock, restricted stock units and similar equity awards (“Restricted Stock”) then-held by Executive will immediately vest and the applicable Company right of repurchase or reacquisition with respect to such shares of Restricted Stock will lapse as to all such shares(the “Restricted Stock Acceleration Amount”).

Appears in 1 contract

Samples: Change of Control Severance Agreement (Iridex Corp)

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