Acceleration Benefit Sample Clauses

Acceleration Benefit. The vesting of the Option and RSUs as set forth in subsections (d) and (e) above shall accelerate such that all unvested Options shall become vested and exercisable and all unvested RSUs shall become vested and settled in the Company’s Common Stock upon a Change in Control (as defined in the Stock Plan) of the Company.
Sample 1
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Acceleration Benefit. If there is a Corporate Transaction and you experience an Involuntary Termination in connection with such Corporate Transaction within two (2) months prior to such Corporate Transaction or at any time subsequent to such Corporate Transaction causing any outstanding option held by you during your continuing service to the Company to be terminated (in whole or in part) pursuant to the Stock Plan, the vesting and exercisability of each such options shall accelerate such that the options shall become vested and exercisable in full at such time and on such conditions as the Administrator shall determine. Also, if you experience an Involuntary Termination without Cause during the course of your employment with the Company, causing any outstanding option held by you during your continuing service to the Company to be terminated (in whole or in part) pursuant to the Stock Plan, the vesting and exercisability of each such option shall accelerate as follows: (1) in the event such Involuntary Termination takes place on or prior to the one year anniversary of the Commencement Date, the options shall become vested and exercisable as to 25% of the remaining unvested shares subject to the options, (2) in the event such Involuntary Termination takes place after the one year anniversary of the Commencement Date and on or prior to the two year anniversary of the Commencement Date, the options shall become vested and exercisable as to 50% of the remaining unvested shares subject to the options, (3) in the event such Involuntary Termination takes pace after the two year anniversary of the Commencement Date and on or prior to the three year anniversary of the Commencement Date, the options shall become vested and exercisable as to 75% of the remaining unvested shares subject to the options and (4) in the event such Involuntary Termination takes place after the three year anniversary of the Commencement Date and on or prior to the four year anniversary of the Commencement Date, the options shall become vested and exercisable as to 100% of the remaining unvested shares subject to the options. The Administrator shall notify you that the Option will terminate at least three (3) days prior to the date on which the Option will terminate. Provided however, that in all cases in order for you to be eligible for such acceleration of vesting benefit, you must execute the Company’s standard form of release of all claims agreement. For purposes of this paragraph, unless a capitalized term ...
Sample 1
Acceleration Benefit. Upon satisfaction of the Severance Preconditions, the Company shall accelerate the vesting of your outstanding Equity Awards that are subject to time- based vesting requirements as if you had completed an additional twelve (12) months of service with the Company following the Separation Date (the “Acceleration Benefit”). For clarity, the restricted stock units granted to you on December 1, 2021 will not be subject to the Acceleration Benefit. Your rights to exercise or otherwise acquire any vested shares shall be governed and controlled by the applicable Equity Documents, as modified by Section 7 below. All terms, ‌ ​ conditions and limitations applicable to the Equity Awards will continue to be governed by the applicable Equity Documents, subject to the provisions hereof.
Sample 1
Acceleration Benefit. Provided the Company has either: (i) not requested for your employment to continue immediately after a Triggering Event or (ii) has requested for your employment to continue immediately after a Triggering Event on terms significantly similar to your employment terms, including Base Salary, immediately prior to the Trigger Event, and you have not rejected such request, then, effective immediately before the consummation of a Triggering Event, any and all of your outstanding unvested equity awards of the Company shall accelerate and become fully exercisable, and any repurchase right of the Company as a result of the Triggering Event applicable to such equity award shall lapse as to all of the number of shares of capital stock of the Company underlying such equity awards In addition, the acceleration of vesting and lapse of repurchase rights provided for in the previous sentence shall occur immediately prior to the effective date of termination of your Continuous Service Status as provided in Section 7. In order to be eligible for such acceleration of vesting benefit, you must execute the Company’s standard reasonable form of mutual release of all claims agreement.
Sample 1
Acceleration Benefit. Please note that the Option will be subject to accelerated vesting upon a Change of Control (as defined in the Stock Option Agreement) only as explicitly set forth in the Stock Option Agreement; provided, however, that in order to be eligible for such acceleration of vesting benefit, you must execute the Company’s standard form of release of all claims agreement.
Sample 1

Related to Acceleration Benefit

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Early Termination Benefit If Early Termination occurs, the Bank shall distribute to the Executive the benefit described in this Section 2.2 in lieu of any other benefit under this Article.

  • Termination Benefits (a) If Executive’s employment is voluntarily (in accordance with Section 2(a) of this Agreement) or involuntarily terminated within two (2) years of a Change in Control, Executive shall receive:

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

  • Early Retirement Benefit If the Executive terminates employment after the Early Retirement Date but before the Normal Retirement Date, and for reasons other than death or Disability, the Bank shall pay to the Executive the benefit described in this Section 2.2.

  • Change in Control Benefit If a Change in Control occurs followed within twenty-four (24) months by Separation from Service prior to Normal Retirement Age, the Bank shall distribute to the Executive the benefit described in this Section 2.4 in lieu of any other benefit under this Article.

  • Change of Control Benefit Upon a Change of Control, the Company shall pay to the Executive the benefit described in this Section 2.4 in lieu of any other benefit under this Agreement.

  • PAYMENT OF DEATH BENEFIT The Company will require due proof of death before any death benefit is paid. Due proof of death will be:

  • Supplemental Retirement Benefit In addition to the foregoing, Executive shall be eligible to participate in the Supplemental Executive Retirement Plan maintained by Cleco Utility Group Inc. or such other supplemental retirement benefit plans which the Company or its Affiliates may adopt, from time to time, for similarly situated executives (the "Supplemental Plan").

  • Other Termination Benefits In addition to any amounts or benefits payable upon a Termination of Employment hereunder, Executive shall, except as otherwise specifically provided herein, be entitled to any payments or benefits provided under the terms of any plan, policy or program of the Company in which Executive participates or as otherwise required by applicable law.

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