Common use of Acceleration upon a Public Offering Clause in Contracts

Acceleration upon a Public Offering. At the closing of the ----------------------------------- Company's initial Public Offering (as defined in the Stock Purchase Agreement), if Executive is then employed by the Company, there will vest the number of Unvested Shares which were scheduled to vest within 12 months following such closing (and the remaining Unvested Shares, if any, shall continue to vest 20% on each anniversary of the Closing hereunder as long as Executive is employed by the Company, so that the vesting schedule set forth in paragraph 2(a) above shall have been effectively accelerated by one year).

Appears in 4 contracts

Samples: Executive Stock Agreement and Employment Agreement (Focal Communications Corp), Executive Stock Agreement and Employment Agreement (Focal Communications Corp), Executive Stock Agreement and Employment Agreement (Focal Communications Corp)

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Acceleration upon a Public Offering. At Upon the closing consummation of the ----------------------------------- Company's initial Public Offering (Offering, and so long as defined in the Stock Purchase Agreement), if Executive is then employed by the CompanyCompany or any of its Subsidiaries on the closing date of such offering, there will vest the number amount of Unvested Shares Securities which were scheduled to vest within 12 months the 365 days following such closing date (and the remaining Unvested SharesSecurities, if any, shall continue to vest 2025% on each anniversary of the Closing hereunder as long as Executive is employed by the CompanyPrior Date in accordance with clause (a) above, so such that the vesting schedule set forth in paragraph 2(a(a) above shall have been effectively accelerated by one year).

Appears in 1 contract

Samples: Executive Purchase Agreement (Allegiance Telecom Inc)

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