Accelerated Vesting Upon a Change in Control. If a Change in Control occurs during the Term, then, effective upon the Change in Control: (a) each outstanding option to purchase shares of Common Stock of the Company held by the Executive shall become immediately exercisable in full and will no longer be subject to a right of repurchase by the Company; and (b) each outstanding restricted stock award shall be deemed to be fully vested and will no longer be subject to a right of repurchase by the Company.
Appears in 5 contracts
Samples: Employment Agreement (Polymedica Corp), Employment Agreement (Polymedica Corp), Employment Agreement (Polymedica Corp)