Common use of Acceleration Upon a Change in Control Clause in Contracts

Acceleration Upon a Change in Control. In the event of a Change in Control all Incentive Stock Options held by a Participant as of the date of the Change in Control shall immediately become exercisable and shall remain exercisable until the expiration of the term of the Incentive Stock Options. Any Option originally designated as an Incentive Stock Option shall be treated as a Non-Statutory Stock Option to the extent the Option does not otherwise qualify as an Incentive Stock Option pursuant to Section 422 of the Code.

Appears in 2 contracts

Samples: 1999 Stock Based Incentive Plan (First Bancorp of Indiana Inc), 1999 Stock Based Incentive Plan (First Bancorp of Indiana Inc)

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Acceleration Upon a Change in Control. In the event of a Change in --------------------------------------- Control all Incentive Stock Options held by a Participant as of the date of the Change in Control shall immediately become exercisable and shall remain exercisable until the expiration of the term of the Incentive Stock Options. Any Option originally designated as an Incentive Stock Option shall be treated as a Non-Statutory Stock Option to the extent the Option does not otherwise qualify as an Incentive Stock Option pursuant to Section 422 of the Code.

Appears in 1 contract

Samples: Stock Based Incentive Plan (First Capital Inc)

Acceleration Upon a Change in Control. In the event of a Change in Control all Incentive Stock Options held by a Participant as of the date of the a Change in Control shall immediately become exercisable and shall remain exercisable until the expiration of the term of the Incentive Stock OptionsOption. Any Option originally designated as an Incentive Stock Option shall be treated as a Non-Statutory Stock Option to the extent the Option which, by operation of this provision, does not otherwise qualify as an Incentive Stock Option pursuant to meet the requirements of Section 422 of the Code, shall be considered a Non-statutory Stock Option.

Appears in 1 contract

Samples: Stock Based Incentive Plan (Pulaski Bancorp Inc)

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Acceleration Upon a Change in Control. In the event of a Change in --------------------------------------- Control all Incentive Stock Options held by a Participant as of the date of the Change in Control shall immediately become exercisable and shall remain exercisable until the expiration of the term of the Incentive Stock OptionsOptions regardless of termination of employment or service. Any Option originally designated as an Incentive Stock Option shall be treated as a Non-Statutory Stock Option to the extent the Option does not otherwise qualify as an Incentive Stock Option pursuant to Section 422 of the Code.

Appears in 1 contract

Samples: Stock Based Incentive Plan (Pulaski Financial Corp)

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