Common use of Acceleration of Exercisability of Option Clause in Contracts

Acceleration of Exercisability of Option. (a) This Option shall immediately vest and become fully exercisable in the event that, prior to the termination of the Option pursuant to Section 6 hereof, (i) the Option is terminated pursuant to Section 6(b)(i) hereof, or (ii) the Company exercises its discretion to provide a cancellation notice with respect to the Option pursuant to Section 6(b)(ii) hereof.

Appears in 2 contracts

Samples: Non Qualified Stock Option Agreement (FX Real Estate & Entertainment Inc.), Non Qualified Stock Option Agreement (FX Real Estate & Entertainment Inc.)

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Acceleration of Exercisability of Option. (a) This Option shall become immediately vest and become fully exercisable in the event that, prior to the termination of the Option pursuant to Section 6 hereof, (ia) there is a “Change in Control”, as defined in Section 8(b) of the Plan, that occurs while the Optionee serves the Company as a Director, (b) the Option is terminated pursuant to Section 6(b)(i) hereof, Committee or (ii) the Company Board exercises its discretion to provide a cancellation notice with respect to the Option pursuant to Section 6(b)(ii) hereof, or (c) the Option is terminated pursuant to Section 6(b)(i) hereof.

Appears in 1 contract

Samples: Option Agreement (Continucare Corp)

Acceleration of Exercisability of Option. (a) This Option shall become immediately vest and become fully exercisable in the event that, prior to the termination of the Option pursuant to Section 6 hereof, (i) the Option is terminated pursuant to Section 6(b)(i) hereof, or (ii) the Company exercises its discretion to provide a cancellation notice with respect to the Option pursuant to Section 6(b)(ii) hereof, or (ii) the Option is terminated pursuant to Section 6(b)(i) hereof.

Appears in 1 contract

Samples: MDwerks, Inc.

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Acceleration of Exercisability of Option. (a) This Option shall become immediately vest and become fully exercisable in the event that, prior to the termination of the Option pursuant to Section 6 hereof, (i) the Option is terminated pursuant to Section 6(b)(i) hereof, or (ii) the Company exercises its discretion to provide a cancellation notice with respect to the Option pursuant to Section 6(b)(ii) hereof., or (ii) the Option is terminated pursuant to Section 6(b)(i) hereof

Appears in 1 contract

Samples: Stock Option Agreement (MDwerks, Inc.)

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