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

Acceleration Upon a Change of Control. Upon the occurrence of a Change of Control, fifty percent (50%) of all unvested options held pursuant to each option grant by the Company to Employee that is outstanding as of July 18, 2003 (the "Options") shall become vested and exercisable upon a Change of Control. Subject to Section 5 hereof, if Employee continues to be employed by the Company or any successor thereto following the Change of Control until the first anniversary of the Change of Control, then the remaining fifty percent (50%) of the Options shall become vested and exercisable as of that one year anniversary.

Appears in 3 contracts

Samples: Management Retention Agreement (Crystal Decisions Inc), Management Retention Agreement (Crystal Decisions Inc), Management Retention Agreement (Crystal Decisions Inc)

AutoNDA by SimpleDocs

Acceleration Upon a Change of Control. Upon the occurrence of a Change of Control, fifty percent (50%) of all unvested options held pursuant shares subject to each option grant granted by the Company to Employee that is outstanding as immediately prior to the Change of July 18, 2003 Control (the "Options") shall become vested and exercisable upon a Change of Control. Subject to Section 5 hereof, if Employee continues to be employed by the Company or any successor thereto following the Change of Control until the first anniversary of the Change of Control, then the remaining fifty percent (50%) of the Options shall become vested and exercisable as of that one year anniversary.

Appears in 2 contracts

Samples: Management Retention Agreement (Crystal Decisions Inc), Management Retention Agreement (Crystal Decisions Inc)

AutoNDA by SimpleDocs

Acceleration Upon a Change of Control. Upon the occurrence of a Change of Control, fifty percent (50%) of all unvested options held pursuant shares subject to each option grant granted by the Company to Employee that is outstanding as of July 18, 2003 (the "Options") shall become vested and exercisable upon a Change of Control. Subject to Section 5 hereof, if Employee continues to be employed by the Company or any successor thereto following the Change of Control until the first anniversary of the Change of Control, then the remaining fifty percent (50%) of the Options shall become vested and exercisable as of that one year anniversary.

Appears in 1 contract

Samples: Management Retention Agreement (Crystal Decisions Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!