Acceleration of Vesting of Stock Options Sample Clauses

Acceleration of Vesting of Stock Options. Vesting of stock options granted to Employee shall be accelerated upon any Change of Control to the extent set forth in the applicable stock option agreement(s) between the Company and Employee. Employee will be entitled to exercise such stock options in accordance with such option agreements.
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Acceleration of Vesting of Stock Options. The Compensation Committee of the Board of Directors has resolved, in accordance with Section 6.03(c) of the 2000 Stock Plan, to accelerate the vesting of certain non-qualified stock options held by the Executive as set forth on Schedule 2 hereto.
Sample 1
Acceleration of Vesting of Stock Options. If (i) your employment with the Company is terminated because the Company is acquired or (ii) you terminate your employment with the Company after an acquisition of the Company because you are not offered a position with the successor in interest of the Company comparable in salary and responsibility to the position with the Company which you held prior to such acquisition, then each option to purchase shares of the Company's Common Stock under the Company's 1996 Equity Incentive Plan or a successor plan which you hold, including the option described in Section 4 of this agreement, shall become vested as to one hundred percent (100%) of the Shares as to which such option is unvested as of such time, and you will be permitted to exercise each such option, to the extent (and only to the extent) that it has not yet been exercised as of your date of termination, at any time until the earlier to occur of (i) twelve (12) months after your date of termination or (ii) the expiration date of such option. If you terminate your employment with the Company at your own discretion after an acquisition of the Company in which you are offered a position with the successor in interest of the Company comparable in salary and responsibility to the position with the Company which you held prior to such acquisition, then each option to purchase shares of the Company's Common Stock under the Company's 1996 Equity Incentive Plan or a successor plan which you hold, including the option described in Section 4 of this agreement, shall become vested as to fifty percent (50%) of the Shares as to which such option is unvested as of such time, and you will be permitted to exercise each such option, to the extent (and only to the extent) that it is vested and has not yet been exercised as of your date of termination, at any time until the earlier to occur of (i) twelve (12) months after your date of termination or (ii) the expiration date of such option.
Sample 1
Acceleration of Vesting of Stock Options. As of the Separation Date, Employee has 157,169 unvested stock options. Company agrees to provide Employee with 50,000 accelerated vesting of certain unvested options (“Accelerated Options). The Accelerated Options shall vest on the Effective Date of this Separation Agreement. In addition, the period for Employee to exercise certain vested options shall be 10 months commencing on March 1, 2013. Other than specifically provided herein, Employee’s stock options shall continue to be governed by the Unify Corporation Amended and Restricted 1991 Stock Option Plan, Unify Corporation 2001 Stock Option Plan, and Unify Corporation 2010 Stock Plan, as applicable.
Sample 1
Acceleration of Vesting of Stock Options. The stock options that were vested but subject to a no-sale restriction will be taken into account when calculating the total number of unvested options to be subject to acceleration of vesting as follows: 111,375 stock options subject to “no sale” restriction + 86,000 unvested options as of Termination Date = a total of 197,375. 197,375 * 25% = 49,343 unvested options to be subject to acceleration of vesting. Only the 49,343 unvested options with the lowest Exercise Price will be subject to acceleration of vesting as set forth in the table below. Grant Date Grant Number Governing Plan Exercise Price Number Of Options Subject To Acceleration Of Vesting 8/11/2003 21000631 1998 Plan $ 12.88 5,000 8/1/2006 21009180 2006 Plan $ 17.94 44,343 Total 49,343
Sample 1
Acceleration of Vesting of Stock Options. The Company granted the Executive two (2) stock options on June 12, 1997 (Option Numbers 001300 and 001301) (the "Options"). As of the date hereof, approximately 99,144 shares subject to Option Number 001300 are unvested and approximately 21,690 shares subject to Option Number 001301 are unvested. The vesting of the shares subject to such Options shall be accelerated as follows: (a) If, after the Effective Date and prior to March 10, 1999, the Company executes a letter of intent or similar agreement providing for a financing transaction in which the Company is to receive gross proceeds of at least $15,000,000 on terms acceptable to the Board of Directors of the Company, then a total of 60,000 of the unvested shares subject to Option Number 001300 shall become vested as of the date of such execution by the Company, regardless of whether the anticipated financing is consummated. (b) On the Term Date, an additional 60,834 unvested shares subject to the Options (or, if lesser, the aggregate number of unvested shares subject to the Options) shall become vested. (c) The Executive acknowledges that to the extent that either Option was an incentive stock option within the meaning of Section 422 of the Internal Revenue Code of 1986, the acceleration of vesting described above may cause the exercise of such Option to be treated as the exercise of a nonstatutory stock option to the extent required by Section 422. The Executive is encouraged to consult with his own tax advisor regarding the tax treatment of his Options.
Sample 1
Acceleration of Vesting of Stock Options. If You remain employed by jcpenney until Your Employment Termination Date all outstanding stock option awards granted under the Equity Plan and the LTIP that are unvested and would, by the terms of the applicable stock option grant notice, be forfeited as of Your Employment Termination Date will fully vest on Your Employment Termination Date and You will have until the earlier of (i) the second anniversary of Your Employment Termination Date, or (ii) the option’s “normal expiration date,” as provided in the applicable stock option grant notice, in which to exercise the option.
Sample 1
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Acceleration of Vesting of Stock Options. The Company granted the Executive a total of four (4) stock options on December 12, 1996 and April 17, 1997 (Option Numbers 001285, 001286, 001391 and 001392) (the "Options"). As of the date hereof, approximately 62,968 shares subject to Option Number 001285 are unvested, approximately 5,781 shares subject to Option Number 001286 are unvested, approximately 9,772 shares subjection to Option Number 001391 are unvested, and approximately 29,603 shares subject to Option Number 001301 are unvested. The vesting of the shares subject to such Options shall be accelerated as follows: (a) If, after the Effective Date, the Company concludes an agreement with an Internet portal company to provide the Portico service, or a subset of that service, to users of its web site on terms acceptable to the Board of Directors of the Company, then a total of 60,000 of the unvested shares subject to Option Numbers 001285, 001286, 001391 and 001392 shall become vested as of the date of the execution of such an agreement by the Company. (b) On the Term Date, an additional 48,124 unvested shares subject to the Options (or, if lesser, the aggregate number of unvested shares subject to the Options) shall become vested. (c) The Executive acknowledges that to the extent that either Option was an incentive stock option within the meaning of Section 422 of the Internal Revenue Code of 1986, the acceleration of vesting described above may cause the exercise of such Option to be treated as the exercise of a nonstatutory stock option to the extent required by Section 422. The Executive is encouraged to consult with his own tax advisor regarding the tax treatment of his Options.
Sample 1

Related to Acceleration of Vesting of Stock Options

  • Vesting of Stock Options All unvested stock options held by Executive, if any, shall vest immediately upon a Change of Control Termination as defined in Section 6.1.

  • Acceleration of Vesting (a) In the event your employment with Deluxe is terminated by reason of death, Disability (as defined in the Addendum), or Approved Retirement (as defined in the Addendum) any time during the Restricted Period, all of the yet unvested Units will vest and the Units shall become non-forfeitable as of the date of such termination. (b) Subject to Section 4(c), in the event your employment is terminated during the Restricted Period after the first anniversary of the Award Date by reason of involuntary termination without Cause, a pro rata portion of the next segment of Units scheduled to vest after the termination date (based on the number of completed days between the termination date and the scheduled vesting date immediately prior to the termination date (or the Award Date if there was no such scheduled vesting date) divided by 365) shall vest and become non-forfeitable as of the date of such termination. (c) Notwithstanding any provision contained in this Agreement that would result in Units vesting in full or in part at a later date, if, in connection with any Change of Control, the acquiring Person, surviving or acquiring corporation or entity, or an Affiliate of such corporation or entity, elects to assume the obligations of Deluxe under this Agreement and to replace the Shares issuable upon settlement of the Units with other equity securities that are listed on a national securities exchange (including by use of American Depository Receipts or any similar method) and are freely transferable under all applicable federal and state securities laws and regulations (“Replacement Equity Securities”), the Units then subject to restriction shall continue to vest as set forth in Section 2, provided, however, the Units shall vest in full and become non-forfeitable if, within twelve months of the date of the Change of Control: (i) Your employment with the Company is terminated by the Company without Cause, (ii) Your employment with the Company is terminated by you for Good Reason, or (iii) Vesting would otherwise occur on any earlier date as provided under this Agreement. In the event of any such Change of Control, the number of Replacement Equity Securities issuable under this Agreement shall be determined by the Committee in accordance with Section 4(c) of the Plan. In the event of any such Change of Control, all references herein to the Shares shall thereafter be deemed to refer to the Replacement Equity Securities, references to Deluxe or the Company shall thereafter be deemed to refer to the issuer of such Replacement Equity Securities, and all other terms of this Agreement shall continue in effect except as and to the extent modified by this subparagraph. (d) If the Change of Control does not meet the continuation or replacement criteria specified in Section 4(c) above, all Units then subject to restriction shall vest in full immediately and become non-forfeitable upon the Change of Control. (e) The provisions of this Section 4 shall be subject to Sections 5(b) and 8.

  • Vesting of Options The Option shall vest (become exercisable) in accordance with the vesting schedule shown on page 1 of this Award Agreement. Notwithstanding the vesting schedule on page 1, the Option will also vest and become exercisable: (a) Upon your death or Disability during your Continuous Status as a Participant; or (b) Upon a Change in Control.

  • Grant of Stock Options This non-qualified Stock Option is granted under and pursuant to the Plan and is subject to each and all of the provisions thereof.

  • Vesting of Award Subject to Section 2(b) below and the other terms and conditions of this Agreement, this Award shall become vested in three equal annual installments on the first, second and third anniversaries of the date hereof. Unless otherwise provided by the Company, all dividends and other amounts receivable in connection with any adjustments to the Shares under Section 4(c) of the Plan shall be subject to the vesting schedule in this Section 2(a).

  • Vesting of Option (a) Subject to the provisions of Paragraphs 3(c), 3(d), 3(e), 3(f) and 3(g) hereof, the Option to purchase Shares shall become vested and may be exercised by said Employee as to the number of Shares and on or after the dates set out on the following schedule: First anniversary of this Agreement 400 Second anniversary of this Agreement 400 Third anniversary of this Agreement 400 Fourth anniversary of this Agreement 400 Fifth anniversary of this Agreement 400 All Options granted hereunder expire and are void unless exercised within ten (10) years of the date of grant (the “Option Termination Date”). (b) In the event of a Change in Control (as defined in section 7(c)(i) of the Plan), the Option shall be fully vested and exercisable immediately as to all Common Stock granted under the Option; provided, such Change in Control transaction is executed during the period commencing as of the date of an agreement providing for such transaction and ending as of the earlier of the expiration date of such Option or the date on which the disposition of assets or stock contemplated by such agreement is consummated. Provided, however, if such Employee should breach any covenant regarding proprietary information or other protective covenants of an employment agreement with the Company or Bank following termination, then any Option granted hereunder but not exercised as of the date of such breach shall be immediately forfeited. (c) In the event that the employment of Employee with the Bank, Company or a subsidiary of the Company is terminated by reason of such Employee’s death, any Options granted under this Agreement which have not vested as of the date of such Employee’s death shall immediately expire and shall become unexercisable on such date. All vested and exercisable Options granted under this Agreement to such Employee shall be exercisable until the earlier of the Option Termination Date or the date twelve months after the date of such Employee’s death. Any such vested Option of a deceased Employee may be exercised prior to their expiration only by a person or persons to whom such Employee’s Option rights pass by will or by the laws of descent and distribution. (d) In the event that the employment of an Employee with the Bank, Company or a subsidiary of the Company is terminated by reason of such Employee’s permanent and total disability (as defined under Section 22(e)(3) of the Internal Revenue Code), any Options which have not vested as of the date of such Employee’s termination of employment by reason of permanent and total disability shall immediately expire and shall become unexercisable on such date. All vested and exercisable Options granted under pursuant to this Agreement to such Employee shall be exercisable until the earlier of the Option Termination Date or the date twelve months after the date of such Employee’s permanent and total disability. (e) In the event that the employment of an Employee with the Bank, Company or a subsidiary of the Company is terminated for cause (i.e., fraud, dishonesty or willful misconduct), all Options granted under this Agreement shall immediately expire and the Employee shall immediately forfeit all Options granted under this Agreement. (f) In the event that the employment of an Employee with the Bank, Company or a subsidiary of the Company is terminated by reason of such Employee’s retirement, any Options which have not vested as of such Employee’s retirement date shall expire and become unexercisable on the earlier of the Option Termination Date or the date three months after such Employee’s retirement date. All vested and exercisable Options granted under this Agreement to such Employee shall expire on the earlier of the Option Termination Date or the date three months after such Employee’s retirement date. (g) In the event that the employment of an Employee with the Bank, Company or a subsidiary of the Company terminates employment for any reason other than for cause or retirement, death or permanent and total disability, any Options which have not vested as of such Employee’s termination date, shall expire and become unexercisable on the earlier of the Option Termination Date or the Employee’s termination date. All vested and exercisable options as of such Employee’s termination date shall expire on the earlier of the Option Termination Date or 90 days after termination. A leave of absence approved in writing by the Board shall not be deemed a termination of employment for purposes of this section, but no Option may be exercised during any such leave of absence.

  • Vesting of PSUs The PSUs granted pursuant to this Award shall vest, if at all, as follows: (a) The Committee, in its sole discretion, has established, or within 90 days following the Date of Grant will establish, Performance Goals based on factors consistent with Section 3.1(e)(ii) of the Executive Employment Agreement by and between NIL, NII and the Grantee effective as of January 2, 2020, as amended from time to time (the “Employment Agreement”), which will be measured over a one-year performance period commencing on _____________ and ending on _____________ (such period, the “Performance Period”). (b) Up to 200% of the Target PSUs subject to this Award are eligible to become earned based upon achievement of the applicable Performance Goals. The Committee shall have sole discretion to determine the level of achievement of the applicable Performance Goals and the percentage of the Target PSUs subject to this Award that shall become earned based on such performance (the “Earned PSUs”). The Committee’s determinations pursuant to the exercise of discretion with respect to all matters described in this paragraph shall be final and binding on the Grantee. The Committee shall make this determination within 60 days following the end of the Performance Period or as soon as administratively practicable thereafter (the “Performance Determination Date”). (c) If, on the Performance Determination Date or any other applicable date as set forth in this Section 3, the Committee determines that any of the PSUs subject to this Award shall not become Earned PSUs, then any such PSUs that did not become Earned PSUs (and all rights arising from such PSUs and from being a holder thereof) will terminate automatically without any further action by the Company and will be forfeited without further notice and at no cost to the Company. (d) One-third of the Earned PSUs shall become vested on each of the first three anniversaries of the Date of Grant if the Grantee remains continuously employed by NIL and/or NII from the Date of Grant through the applicable vesting date; provided that any Earned PSUs scheduled to vest prior to the Performance Determination Date shall instead vest upon the Performance Determination Date; provided further, that if the preceding calculation results in any fractional shares, such fractional shares shall be rounded down to the next whole number of shares, with the remainder of shares due to be paid in the third annual instalment. (e) In the event of a Change in Control of NIL (as defined in the Employment Agreement), notwithstanding anything to the contrary in the Employment Agreement, all of the Earned PSUs subject to this Award that remain unvested shall become vested as of the date of such Change in Control if the Grantee remains continuously employed by NIL and/or NII from the Date of Grant through the date of such Change in Control; provided that, if such Change in Control of NIL occurs prior to the Performance Determination Date, the Earned PSUs shall be deemed to equal 100% of the Target PSUs. (f) In the event of the Grantee’s Termination due to the Grantee’s death or Disability (as defined in the Employment Agreement), all of the Earned PSUs subject to this Award that remain unvested shall become vested as of the date of such Termination; provided that, if the date of such Termination occurs prior to the conclusion of the Performance Period, then the Grantee shall forfeit all PSUs subject to this Award, and if the date of such Termination occurs after the conclusion of the Performance Period but prior to the Performance Determination Date, then the number of Earned PSUs shall be determined based on actual performance. (g) In the event of the Grantee’s Termination either due to the Grantee’s Constructive Termination Without Cause or by the Company Without Cause (each as defined in the Employment Agreement), all of the Earned PSUs subject to this Award that remain unvested shall become vested as of the date of such Termination; provided that, if the date of such Termination occurs prior to the conclusion of the Performance Period, then the Grantee shall forfeit all PSUs subject to this Award, and if the date of such Termination occurs after the conclusion of the Performance Period but prior to the Performance Determination Date, then the number of Earned PSUs shall be determined based on actual performance. ​ (h) Anything herein notwithstanding, in the event of the Grantee’s Termination by the Company for Cause or by the written voluntary resignation of the Grantee (each as defined or contemplated, as applicable, in the Employment Agreement), the Grantee shall forfeit any PSUs subject to this Award that remain unvested as of the date of such Termination.

  • Grant of Stock Option The Company hereby grants the Optionee an Option to purchase shares of Common Stock, subject to the following terms and conditions and subject to the provisions of the Plan. The Plan is hereby incorporated herein by reference as though set forth herein in its entirety. The Option is not intended to be and shall not be qualified as an “incentive stock option” under Section 422 of the Code.

  • Acceleration of Options One hundred (100%) percent of the Executive’s outstanding, unvested options, restricted stock and/or equity awards (“Equity Awards”) shall, immediately prior to the consummation of the Change in Control, become fully and immediately vested to the extent not already so provided under the terms of such Equity Awards; provided, however, that if the acquirer in a Change in Control grants Equity Awards having (in the reasonable opinion of the Board) a value at least equal to the value of Executive’s then-unvested Company Equity Awards, then 50% of the Executive’s outstanding, unvested Company Equity Awards shall become fully and immediately vested immediately prior to the consummation of the Change in Control (and the remaining 50% shall terminate upon the consummation of the Change in Control). Notwithstanding any provisions of the stock option plan or stock option agreement pursuant to which any stock options subject to the preceding sentence were granted, the Executive shall be entitled to exercise such Equity Awards until three years from the date of termination of employment or the expiration of the stated period of the Equity Award, whichever period is the shorter.

  • Accelerated Vesting of Equity Awards One hundred percent (100%) of Executive’s then-outstanding and unvested Equity Awards will become vested in full. If, however, an outstanding Equity Award is to vest and/or the amount of the award to vest is to be determined based on the achievement of performance criteria, then the Equity Award will vest as to one hundred percent (100%) of the amount of the Equity Award assuming the performance criteria had been achieved at target levels for the relevant performance period(s).

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