Common use of Acceleration of Vesting of Equity Compensation Awards and Exercisability thereof Clause in Contracts

Acceleration of Vesting of Equity Compensation Awards and Exercisability thereof. Except as may be otherwise agreed to by the Executive, all equity compensation awards granted to the Executive under the Stock Compensation Plan, or any predecessor thereto, at or after the Change in Control Date, shall become immediately vested and exercisable with respect to all or any portion of the shares covered thereby and not previously forfeited or lapsed regardless of whether such awards are otherwise vested and exercisable. In additional, the Executive will have at least 90 days after Termination of Employment to exercise all stock options, stock appreciation rights and similar awards, or such longer period as may be provided for in the separate stock option agreement, to exercise such awards, provided that such extended exercise period shall not extend beyond the maximum term of such awards determined without regard to the Executive’s Termination of Employment.