Acceleration of Vesting Upon a Sale Event. Upon the occurrence of a Sale Event (as defined below), all of the unvested Restricted Shares will become vested and free from forfeiture pursuant to Section 2(b) immediately prior to the closing of such Sale Event. For purposes of this Agreement, a “Sale Event” shall mean either: (i) a transaction or series of related transactions in which a person, or a group of related persons, acquires from stockholders of the Company shares representing more than fifty percent (50%) of the outstanding voting power of the Company, or (ii) a transaction that qualifies as a “Deemed Liquidation Event” as defined in the Company’s Certificate of Incorporation then in effect.
Appears in 4 contracts
Samples: Restricted Stock Award Agreement (Collegium Pharmaceutical, Inc), Restricted Stock Award Agreement (Collegium Pharmaceutical, Inc), Restricted Stock Award Agreement (Collegium Pharmaceutical Inc)
