Common use of Acceleration of Unvested Shares Following Change of Control Clause in Contracts

Acceleration of Unvested Shares Following Change of Control. Subject to the continued employment of the Employee, any unvested shares following the acceleration provided in paragraph (a)(ii) above shall vest on the date of the first anniversary following the Change of Control. If, however, the Employee's employment is terminated within the twelve (12) month period following a Change of Control, then, subject to Section 4 of the Agreement, any shares held by the Employee under any common stock purchase agreement with the Corporation shall become vested shares as follows:

Appears in 2 contracts

Samples: Change of Control Agreement (Snap Appliances Inc), Change of Control Agreement (Quantum Corp /De/)

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Acceleration of Unvested Shares Following Change of Control. Subject to the continued employment of the Employee, any unvested shares following the acceleration provided in paragraph (a)(ii) above shall vest on the date of the first anniversary following the Change of Control. If, however, the Employee's ’s employment is terminated within the twelve (12) month period following a Change of Control, then, subject to Section 4 of the Agreement, any shares held by the Employee under any common stock purchase agreement with the Corporation shall become vested shares as follows:

Appears in 2 contracts

Samples: Executive Change of Control Agreement (Quantum Corp /De/), Chief Executive Change of Control Agreement (Quantum Corp /De/)

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