Acceleration of Stock Awards. For purposes of this Agreement, to the extent the vesting and/or exercisability of any of Executive’s outstanding Stock Awards and/or the lapsing of any restrictions with respect to Stock Awards that Executive holds shall be accelerated pursuant to this Agreement, if any Stock Award had previously been partially exercised such that an unexercised portion of the Stock Award still remains outstanding as of the date of such acceleration, the vesting acceleration provisions of this Agreement shall be applied to the total number of shares subject to such Award that consist of (i) then unvested exercised shares that were previously acquired upon the partial exercise of such Stock Award, plus (ii) the remaining unexercised portion of the Stock Award. The acceleration of vesting shall be first applied toward the unvested previously exercised shares such that no unexercised shares shall vest on an accelerated basis in accordance with the provisions of this Agreement unless and until all of the unvested exercised shares subject to such Stock Award have first vested. In addition, the acceleration of vesting shall be applied to each Stock Award individually.
Appears in 37 contracts
Samples: Employment Agreement (Santarus Inc), Employment Agreement (Santarus Inc), Employment Agreement (Santarus Inc)
Acceleration of Stock Awards. For purposes of this Agreement, to the extent the vesting and/or exercisability of any of Executive’s 's outstanding Stock Awards and/or the lapsing of any restrictions with respect to Stock Awards that Executive holds shall be accelerated pursuant to this Agreement, if any Stock Award had previously been partially exercised such that an unexercised portion of the Stock Award still remains outstanding as of the date of such acceleration, the vesting acceleration provisions of this Agreement shall be applied to the total number of shares subject to such Award that consist of (i) then unvested exercised shares that were previously acquired upon the partial exercise of such Stock Award, plus (ii) the remaining unexercised portion of the Stock Award. The acceleration of vesting shall be first applied toward the unvested previously exercised shares such that no unexercised shares shall vest on an accelerated basis in accordance with the provisions of this Agreement unless and until all of the unvested exercised shares subject to such Stock Award have first vested. In addition, the acceleration of vesting shall be applied to each Stock Award individually.
Appears in 7 contracts
Samples: Employment Agreement (Santarus Inc), Employment Agreement (Santarus Inc), Employment Agreement (Santarus Inc)
Acceleration of Stock Awards. For purposes of this Agreement, to the extent the vesting and/or exercisability of any of Executive’s outstanding Stock Awards and/or the lapsing of any restrictions with respect to Stock Awards that Executive holds shall be accelerated pursuant to this Agreement, if any Stock Award had previously been partially exercised such that an unexercised portion of the Stock Award still remains outstanding as of the date of such acceleration, the vesting acceleration provisions of this Agreement shall be applied to the total number of shares subject to such Award that consist of (i) then unvested exercised shares that were previously acquired upon the partial exercise of such Stock Award, plus (ii) the remaining unexercised portion of the Stock Award. The acceleration of vesting shall be first applied toward the unvested previously exercised shares such that no unexercised shares shall vest on an accelerated basis in accordance with the provisions of this Agreement unless and until all of the unvested exercised shares subject to such Stock Award have first vested. In addition, the acceleration of vesting shall be applied to each Stock Award individually.first
Appears in 6 contracts
Samples: Employment Agreement (Santarus Inc), Employment Agreement (Santarus Inc), Employment Agreement (Santarus Inc)