Accelerated Vesting. (a) On the Termination Date, stock options for the purchase of the Company’s securities held by you as of the Termination Date and not then exercisable shall immediately become exercisable in full. The options to which this accelerated vesting applies shall remain exercisable until the earlier of (a) the end of the 90-day period immediately following the later of (i) the Termination Date or (ii) the date of the Change of Control and (b) the date the stock option(s) would otherwise expire; and (b) On the Termination Date, the Company’s lapsing repurchase right with respect to shares of restricted stock held by you shall lapse in full (subject to your making satisfactory arrangements with the Company providing for the payment to the Company of all required withholding taxes). Notwithstanding anything to the contrary in this Agreement, the terms of any option agreement or restricted stock agreement shall govern the acceleration, if any, of vesting or lapsing of the Company’s repurchase rights and period of exercisability of such awards, as applicable, except to the extent that the terms of this Agreement are more favorable to you.
Appears in 9 contracts
Samples: Change of Control Agreement (Vertex Pharmaceuticals Inc / Ma), Change of Control Agreement (Vertex Pharmaceuticals Inc / Ma), Change of Control Agreement (Vertex Pharmaceuticals Inc / Ma)
Accelerated Vesting. (a) On the Termination Date, stock Stock options for the purchase of the Company’s 's securities held by you as of the Termination Date and not then exercisable shall immediately become exercisable in full. The options to which this accelerated vesting applies shall remain exercisable until the earlier of (a) the end of the 90-day period immediately following the later of (i) the Termination Date or (ii) the date of the Change of Control and (b) the date the stock option(s) would otherwise expire; and
(b) On the Termination Date, the Company’s 's lapsing repurchase right with respect to shares of restricted stock held by you shall lapse in full (subject to your making satisfactory arrangements with the Company providing for the payment to the Company of all required withholding taxes). Notwithstanding anything to the contrary in this Agreement, the terms of any option agreement or restricted stock agreement shall govern the acceleration, if any, of vesting or lapsing of the Company’s 's repurchase rights and period of exercisability of such awards, as applicable, except to the extent that the terms of this Agreement agreement are more favorable to you.
Appears in 4 contracts
Samples: Change of Control Agreement (Vertex Pharmaceuticals Inc / Ma), Change of Control Agreement (Vertex Pharmaceuticals Inc / Ma), Change of Control Agreement (Vertex Pharmaceuticals Inc / Ma)
Accelerated Vesting. (a) On the Termination Date, stock Stock options for the purchase of the Company’s 's securities held by you as of the Termination Date and not then exercisable shall immediately become be deemed to have been held by you for an additional 18 months, for purposes of calculating the number of options which are exercisable in fullon the Termination Date. The options to which this accelerated vesting applies shall remain exercisable until the earlier of (a) the end of the 90-day period immediately following the later of (i) the Termination Date Date, or (ii) the date of the Change of Control and (b) the date the stock option(s) would otherwise expire; and
(b) On the Termination Date, the Company’s 's lapsing repurchase right with respect to shares of restricted stock held by you shall lapse in full (subject to your making satisfactory arrangements with the Company providing for the payment respect to the Company Pro-Rata Share of all required withholding taxes). Restricted Stock.
(c) Notwithstanding anything to the contrary in this Agreementagreement, the terms of any option agreement or restricted stock agreement shall govern the acceleration, if any, of vesting or lapsing of the Company’s 's repurchase rights and period of exercisability of such awardsrights, as applicable, except to the extent that the terms of this Agreement agreement are more favorable to you.
Appears in 2 contracts
Samples: Change of Control Agreement (Vertex Pharmaceuticals Inc / Ma), Change of Control Agreement (Vertex Pharmaceuticals Inc / Ma)
Accelerated Vesting. (a) On the Termination Date, stock Stock options for the purchase of the Company’s securities held by you as of the Termination Date and not then exercisable shall immediately become exercisable in full. The options to which this accelerated vesting applies shall remain exercisable until the earlier of (a) the end of the 90-day period immediately following the later of (i) the Termination Date or (ii) the date of the Change of Control and (b) the date the stock option(s) would otherwise expire; and
(b) On the Termination Date, the Company’s lapsing repurchase right with respect to shares of restricted stock held by you shall lapse in full (subject to your making satisfactory arrangements with the Company providing for the payment to the Company of all required withholding taxes). Notwithstanding anything to the contrary in this Agreement, the terms of any option agreement or restricted stock agreement shall govern the acceleration, if any, of vesting or lapsing of the Company’s repurchase rights and period of exercisability of such awards, as applicable, except to the extent that the terms of this Agreement agreement are more favorable to you.
Appears in 2 contracts
Samples: Change of Control Agreement (Vertex Pharmaceuticals Inc / Ma), Change of Control Agreement (Vertex Pharmaceuticals Inc / Ma)
Accelerated Vesting. (a) On the Termination Date, stock Stock options for the purchase of the Company’s securities held by you as of the Termination Date and not then exercisable shall immediately become exercisable in full. The options to which this accelerated vesting applies shall remain exercisable until the earlier of (a) the end of the 90-day period immediately following the later of (i) the Termination Date or (ii) the date of the Change of Control and (b) the date the stock option(s) would otherwise expire; and
(b) On the Termination Date, the Company’s lapsing repurchase right with respect to shares of restricted stock held by you shall lapse in full (subject to your making satisfactory arrangements with the Company providing for the payment to the Company of all required withholding taxes). Notwithstanding anything to the contrary in this Agreement, the terms of any option agreement or restricted stock agreement shall govern the acceleration, if any, of vesting or lapsing of the Company’s repurchase rights and period of exercisability of such awards, as applicable, except to the extent that the terms of this Agreement are more favorable to you.
Appears in 2 contracts
Samples: Change of Control Agreement (Vertex Pharmaceuticals Inc / Ma), Change of Control Agreement (Vertex Pharmaceuticals Inc / Ma)
Accelerated Vesting. (a) On the Termination Date, stock Stock options for the purchase of the Company’s 's securities held by you as of the Termination Date and not then exercisable shall immediately become exercisable in full. The options to which this accelerated vesting applies shall remain exercisable until the earlier of (a) the end of the 90-day period immediately following the later of (i) the Termination Date or (ii) the date of the Change of Control and or (b) the date the stock option(s) would otherwise expire; and
(b) On the Termination Date, the Company’s 's lapsing repurchase right with respect to shares of restricted stock held by you shall lapse in full (subject to your making satisfactory arrangements with the Company providing for the payment to the Company of all required withholding taxes). Notwithstanding anything to the contrary in this Agreement, the terms of any option agreement or restricted stock agreement shall govern the acceleration, if any, of vesting or lapsing of the Company’s 's repurchase rights and period of exercisability of such awardsrights, as applicable, except to the extent that the terms of this Agreement are more favorable to you.
Appears in 1 contract
Samples: Change of Control Agreement (Vertex Pharmaceuticals Inc / Ma)
Accelerated Vesting. (a) On the Termination Date, stock Stock options for the purchase of the Company’s securities held by you as of the Termination Date and not then exercisable shall immediately become exercisable in full. The options to which this accelerated vesting applies shall remain exercisable until the earlier of (a) the end of the 90-day period immediately following the later of (i) the Termination Date or (ii) the date of the Change of Control and or (b) the date the stock option(s) would otherwise expire; and
(b) On the Termination Date, the Company’s lapsing repurchase right with respect to shares of restricted stock held by you shall lapse in full (subject to your making satisfactory arrangements with the Company providing for the payment to the Company of all required withholding taxes). Notwithstanding anything to the contrary in this Agreement, the terms of any option agreement or restricted stock agreement shall govern the acceleration, if any, of vesting or lapsing of the Company’s repurchase rights and period of exercisability of such awardsrights, as applicable, except to the extent that the terms of this Agreement are more favorable to you.
Appears in 1 contract
Samples: Change of Control Agreement (Vertex Pharmaceuticals Inc / Ma)
Accelerated Vesting. (a) On the Termination Date, stock options for the purchase of the Company’s securities held by you as of the Termination Date and not then exercisable shall immediately become exercisable in full. The options to which this accelerated vesting applies shall remain exercisable until the earlier of (a) the end of the 90-day period immediately following the later of (i) the Termination Date or (ii) the date of the Change of Control and or (b) the date the stock option(s) would otherwise expire; and
(b) On the Termination Date, the Company’s lapsing repurchase right with respect to shares of restricted stock held by you shall lapse in full (subject to your making satisfactory arrangements with the Company providing for the payment to the Company of all required withholding taxes). Notwithstanding anything to the contrary in this Agreement, the terms of any option agreement or restricted stock agreement shall govern the acceleration, if any, of vesting or lapsing of the Company’s repurchase rights and period of exercisability of such awardsrights, as applicable, except to the extent that the terms of this Agreement are more favorable to you.
Appears in 1 contract
Samples: Change of Control Agreement (Vertex Pharmaceuticals Inc / Ma)
Accelerated Vesting. (a) On the Termination Date, stock Stock options for the purchase of the Company’s 's securities held by you as of the Termination Date and not then exercisable shall immediately become exercisable in full. The options to which this accelerated vesting applies shall remain exercisable until the earlier of (a) the end of the 90-day period immediately following the later of (i) the Termination Date or (ii) the date of the Change of Control and (b) the date the stock option(s) would otherwise expire; and
(b) On the Termination Date, the Company’s 's lapsing repurchase right with respect to shares of restricted stock held by you shall lapse in full (subject to your making satisfactory arrangements with the Company providing for the payment to the Company of all required withholding taxes). Notwithstanding anything to the contrary in this Agreement, the terms of any option agreement or restricted stock agreement shall govern the acceleration, if any, of vesting or lapsing of the Company’s 's repurchase rights and period of exercisability of such awards, as applicable, except to the extent that the terms of this Agreement are more favorable to you.
Appears in 1 contract
Samples: Change of Control Agreement (Vertex Pharmaceuticals Inc / Ma)
Accelerated Vesting. (a) On the Termination Date, stock options for the purchase of the Company’s securities held by you as of the Termination Date and not then exercisable shall immediately become exercisable in full. The options to which this accelerated vesting applies shall remain exercisable until the earlier of (a) the end of the 90-day period immediately following the later of (i) the Termination Date or (ii) the date of the Change of Control and (b) the date the stock option(s) would otherwise expire; and
(b) On the Termination Date, the Company’s lapsing repurchase right with respect to shares of restricted stock held by you shall lapse in full (subject to your making satisfactory arrangements with the Company providing for the payment to the Company of all required withholding taxes). Notwithstanding anything to the contrary in this Agreement, the terms of any option agreement or restricted stock agreement shall govern the acceleration, if any, of vesting or lapsing of the Company’s repurchase rights and period of exercisability of such awards, as applicable, except to the extent that the terms of this Agreement agreement are more favorable to you.. 113459.4 Dr. Xxxxx Xxxxxxx November 15, 2012
Appears in 1 contract
Samples: Change of Control Agreement (Vertex Pharmaceuticals Inc / Ma)