Acceleration of Vesting Schedule. Notwithstanding Part 3, the Restricted Shares or the applicable portion thereof may become fully vested immediately (at the option of the recipient) under the following circumstances:
Acceleration of Vesting Schedule. If there is a change of control of -------------------------------- the Parent, pursuant to which one single person or entity has control of the Parent (as control is understood under the Internal Revenue Code or securities laws of the US), in 1998, the vesting schedule on all options previously granted to the Executive will be accelerated so that a total of 50% of the Executive's options will be vested on the effective date of such merger or acquisition. The vesting schedule shall thereafter remain the same so that the remaining shares vest without giving effect to the shares which vested on an accelerated basis.
Acceleration of Vesting Schedule. In the event that Employee is -------------------------------- terminated by the Company without Cause, the vesting schedule for any and all unexercised stock options granted to, and then held by, Employee shall accelerate and, in such event, all such options shall be immediately vested, and will be immediately exercisable by Employee, subject to the terms and conditions of the Company's stock option plan(s), Employee's stock option agreement(s) and applicable laws.
Acceleration of Vesting Schedule. Notwithstanding the vesting schedule described above in Section 2, effective immediately prior to an Acquisition (as defined below), this option shall become exercisable for such number of additional Shares as is equal to 25% of the total number of Shares originally covered by this option, except that for employees who have been employed by the Company for less than one year as of the date of such Acquisition, this option only shall become exercisable for such number of Shares as is equal to 12.5% of the total number of Shares originally covered by this option, with the remaining shares in each case continuing to vest in accordance with a vesting schedule that has been shortened by one year or six months, respectively. For purposes of this option, the term "Acquisition" shall mean (1) any merger or consolidation in which (i) the Company is a constituent party or (ii) a subsidiary of the Company is a constituent party and the Company issues shares of its capital stock pursuant to such merger or consolidation (except, in the case of both clauses (i) and (ii) above, any such merger or consolidation involving the Company or a subsidiary in which the holders of capital stock of the Company immediately prior to such merger or consolidation continue to hold immediately following such merger or consolidation at least 51% by voting power of the capital stock of (x) the surviving or resulting corporation or (y) if the surviving or resulting corporation is a wholly owned subsidiary of another corporation immediately following such merger or consolidation, of the parent corporation of such surviving or resulting corporation) or (2) the sale or transfer, in a single transaction or series of related transactions, of outstanding capital stock representing at least 51% of the voting power of the outstanding capital stock of the Company immediately following such transaction or (3) the sale of all or substantially all of the assets of the Company.
Acceleration of Vesting Schedule. Notwithstanding the vesting schedule described above in Section 2, effective immediately prior to an Acquisition (as defined below), this option shall become exercisable for such number of additional Shares as is equal to 20% of the total number of Shares originally covered by this option, except that for employees who have been employed by the Company for less than one year as of the date of the Acquisition, this option only shall become exercisable for such number of Shares as is equal to 10% of the total number of Shares originally covered by this option, with the remaining shares in each case continuing to vest in accordance with a vesting schedule that has been shortened by one year or six months, respectively. For purposes of this option, the term "
Acceleration of Vesting Schedule. (a) Notwithstanding any other provision of this Agreement, in the event of a "Change of Control" (as defined below) of the Company (or its successor), on the closing date of the "Change of Control" event, Fifty Percent (50%) of Purchaser's then Unvested Shares shall be accelerated and shall immediately become Vested Shares. "
Acceleration of Vesting Schedule. Notwithstanding the above and to the extent provided in Grantee's employment agreement (if any) or the Meritage Homes Corporation Executive Severance Plan ("Severance Plan"), the Restricted Stock Units shall immediately vest and all restrictions on the Restricted Stock Units shall lapse to the extent provided in such employment agreement or Severance Plan.
Acceleration of Vesting Schedule. Notwithstanding the above and to the extent provided in Grantee's employment agreement (if any) or the Meritage Homes Corporation Executive Severance Plan ("Severance Plan"), the time- or service-based vesting portion of the Performance Shares shall immediately vest and all restrictions on the time- or service-based vesting portion of the Performance Shares shall lapse to the extent provided in such employment agreement or Severance Plan.
Acceleration of Vesting Schedule. In the event (i) the Company enters into a purchase and sale agreement whereby substantially all of the Company's assets will be sold to an unrelated thirty party or (ii) more than ninety-five percent (95%) of the total issued and outstanding shares of the Company are to be sold pursuant to a stock transfer agreement to an unrelated third party (herein an "Accelerating Event"), any installments of the option not yet vested shall conditionally vest and the Employee will have the right to exercise such installment(s) of the option subject to the following:
Acceleration of Vesting Schedule. The Vesting Schedule shall be accelerated and all of the Options shall become fully exercisable upon the first to occur of the following events involving a change in control of the Company: (1) upon the sale of 50% or more of the assets of the Company to a third party, (2) upon the consummation of a merger (other than a merger the principal purpose of which is to change the state of Company's incorporation or a merger in which the Company is the surviving corporation and the pre-merger directors of the Company retain control of the Board of Directors of the surviving corporation), (3) upon the election of the majority of the Board of Directors pursuant to the acquisition of a controlling interest in the equity of the Company by a hostile third party, or (4) any other events involving a change in control of the Company.
