Common use of Accelerated Vesting of Stock Awards Clause in Contracts

Accelerated Vesting of Stock Awards. The vesting and exercisability of all outstanding stock options and other stock awards covering the Company’s common stock that are held by Executive as of immediately prior to the Involuntary Termination, to the extent such awards are subject to time-based vesting requirements, shall be accelerated (and lapse, in the case of reacquisition or repurchase rights) as if Executive had completed an additional twelve (12) months of service with the Company as of the date of Executive’s Involuntary Termination.

Appears in 4 contracts

Samples: Severance Agreement (Xencor Inc), Severance Agreement (Xencor Inc), Severance Agreement (Xencor Inc)

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Accelerated Vesting of Stock Awards. The vesting and exercisability of all outstanding stock options and other stock awards covering the Company’s common stock that are held by Executive as of immediately prior to the Involuntary Termination, to the extent such awards are subject to time-based vesting requirements, shall be accelerated (and lapse, in the case of reacquisition or repurchase rights) as if Executive had completed an additional twelve twenty-four (1224) months of service with the Company as of the date of Executive’s Involuntary Termination.

Appears in 1 contract

Samples: Severance Agreement (Xencor Inc)

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