Acceleration upon a Public Offering. At the closing ----------------------------------- of a Public Offering, if the 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 on each anniversary of the Closing hereunder following the closing of a Public Offering, if the Executive is then employed by the Company, there will vest 20% of the original Unvested Shares (so that the vesting schedule set forth in paragraph 2(a) above shall have been effectively accelerated by one year)." (b) The first two sentences of paragraph 2(e) of the Executive Stock Agreement are hereby deleted and replaced with the following:
Appears in 2 contracts
Samples: Executive Stock Agreement and Employment Agreement (Focal Communications Corp), Executive Stock Agreement and Employment Agreement (Focal Communications Corp)
Acceleration upon a Public Offering. At the ----------------------------------- closing ----------------------------------- of a Public Offering, ,if the 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 on each anniversary of the Closing hereunder following the closing of a Public Offering, if the Executive is then employed by the Company, there will vest 20% of the original Unvested Shares (so that the vesting schedule set forth in paragraph 2(a) above shall have been effectively accelerated by one year)."
(b) The first two sentences of paragraph 2(e) of the Executive Stock Agreement are hereby deleted and replaced with the following:
Appears in 1 contract
Samples: Executive Stock Agreement and Employment Agreement (Focal Communications Corp)
Acceleration upon a Public Offering. At the closing ----------------------------------- of a ----------------------------------- Public Offering, if the 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 on each anniversary of the Closing hereunder following the closing of a Public Offering, if the Executive is then employed by the Company, there will vest 20% of the original Unvested Shares (so that the vesting schedule set forth in paragraph 2(a) above shall have been effectively accelerated by one year)."
(b) The first two sentences of paragraph 2(e) of the Executive Stock Agreement are hereby deleted and replaced with the following:
Appears in 1 contract
Samples: Executive Stock Agreement and Employment Agreement (Focal Communications Corp)
