Acceleration of Vesting Upon Change of Control. Notwithstanding the provisions of Sections 3(a) and 3(b) above, in the event the Company undergoes a "change of control" as defined below, and provided that Optionee is employed by the Company on such date, then all non-vested Optioned Shares shall immediately vest and Optionee shall have the right to exercise this Option for the full amount of Optioned Shares, less any previously exercised shares. For purposes of this Option, a change of control shall mean any of the following events:
Appears in 7 contracts
Samples: Stock Option Agreement (ABC Funding, Inc), Stock Option Agreement (ABC Funding, Inc), Stock Option Agreement (Baseline Oil & Gas Corp.)
