Acceleration of Option Vesting. Any unvested options you hold to purchase shares of the Company’s capital stock outstanding at the time you are either terminated by the Company without “Cause” or voluntarily terminate your employment with the Company for “Good Reason” will become fully vested and exercisable pursuant to the terms and conditions of your Stock Option Agreement. The following table indicates the number of stock options you currently hold which are not vested as of the date of this Letter Agreement and thus are hereby covered by the provisions of this section: 04/24/2003 $ 1.35 72,500 04/23/2004 $ 3.20 30,000 Finally, any future grant to you of options to purchase shares of the Company’s capital stock will include the appropriate language providing that any of the related unvested options outstanding at the time you are either terminated by the Company without “Cause” or voluntarily terminate your employment with the Company for “Good Reason” as the result of a Change in Control as defined herein will become fully vested and exercisable pursuant to the terms and conditions of the related Stock Option Agreement.
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Samples: Change in Control Letter Agreement (Bakbone Software Inc)
Acceleration of Option Vesting. Any unvested options you hold to purchase shares of the Company’s capital stock outstanding at the time you are either terminated by the Company without “Cause” or voluntarily terminate your employment with the Company for “Good Reason” will become fully vested and exercisable pursuant to the terms and conditions of your Stock Option Agreement. The following table indicates the number of stock options you currently hold which are not vested as of the date of this Letter Agreement and thus are hereby covered by the provisions of this section: 04/24/2003 06/24/2003 $ 1.35 72,500 04/23/2004 $ 3.20 30,000 1.86 35,417 Finally, any future grant to you of options to purchase shares of the Company’s capital stock will include the appropriate language providing that any of the related unvested options outstanding at the time you are either terminated by the Company without “Cause” or voluntarily terminate your employment with the Company for “Good Reason” as the result of a Change in Control as defined herein will become fully vested and exercisable pursuant to the terms and conditions of the related Stock Option Agreement.
Appears in 1 contract
Samples: Change in Control Letter Agreement (Bakbone Software Inc)
Acceleration of Option Vesting. Any unvested options you hold to purchase shares of the Company’s capital stock outstanding at the time you are either terminated by the Company without “Cause” or voluntarily terminate your employment with the Company for “Good Reason” will become fully vested and exercisable pursuant to the terms and conditions of your Stock Option Agreement. The following table indicates the number of stock options you currently hold which are not vested as of the date of this Letter Agreement and thus are hereby covered by the provisions of this section: 04/24/2003 $ 1.35 72,500 04/23/2004 $ 3.20 30,000 886 Finally, any future grant to you of options to purchase shares of the Company’s capital stock will include the appropriate language providing that any of the related unvested options outstanding at the time you are either terminated by the Company without “Cause” or voluntarily terminate your employment with the Company for “Good Reason” as the result of a Change in Control as defined herein will become fully vested and exercisable pursuant to the terms and conditions of the related Stock Option Agreement.
Appears in 1 contract
Samples: Change in Control Letter Agreement (Bakbone Software Inc)
Acceleration of Option Vesting. Any unvested options you hold to purchase shares of the Company’s capital stock outstanding at the time you are either terminated by the Company without “Cause” or voluntarily terminate your employment with the Company for “Good Reason” will become fully vested and exercisable pursuant to the terms and conditions of your Stock Option Agreement. The following table indicates the number of stock options you currently hold which are not vested as of the date of this Letter Agreement and thus are hereby covered by the provisions of this section: 04/24/2003 $ 1.35 72,500 04/23/2004 $ 3.20 30,000 9,375 Finally, any future grant to you of options to purchase shares of the Company’s capital stock will include the appropriate language providing that any of the related unvested options outstanding at the time you are either terminated by the Company without “Cause” or voluntarily terminate your employment with the Company for “Good Reason” as the result of a Change in Control as defined herein will become fully vested and exercisable pursuant to the terms and conditions of the related Stock Option Agreement.
Appears in 1 contract
Samples: Change in Control Letter Agreement (Bakbone Software Inc)