Common use of Acceleration of Stock Options Clause in Contracts

Acceleration of Stock Options. (i) Any options held by the Executive as of the date of a Change of Control which are not exercisable by their terms as of the date of such Change of Control shall become exercisable as follows, subject to the provisions of subsection (ii) below: 50% of such options shall become fully exercisable immediately prior to the Change of Control and 50% of such options shall become fully exercisable on the first anniversary date of the Change of Control (unless by their terms they become exercisable sooner). Such options shall remain exercisable until the date which is ninety-one days following the first anniversary of the Change of Control.