Common use of Acceleration Upon Change in Control Clause in Contracts

Acceleration Upon Change in Control. This Option shall become immediately fully exercisable in the event that, prior to the termination of the Option pursuant to Section 6 hereof, and during the Optionee's Continuous Service, there is a “Change in Control,” as defined in Section 9(b) of the Plan, unless either (i) the Company is the surviving entity in the Change in Control and the Option Award continues to be outstanding after the Change in Control on substantially the same terms and conditions as were applicable immediately prior to the Change in Control or (ii) the successor company or its parent company assumes or substitutes for the Option Award, as determined in accordance with Section 10(c)(ii) of the Plan.

Appears in 3 contracts

Samples: Non Qualified Stock Option Agreement (Lifepoint Health, Inc.), Non Qualified Stock Option Agreement (Lifepoint Hospitals, Inc.), Non Qualified Stock Option Agreement (Lifepoint Hospitals, Inc.)

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Acceleration Upon Change in Control. This Option shall become immediately fully exercisable in the event that, prior to the termination of the Option pursuant to Section 6 hereof, and during the Optionee's ’s Continuous Service, there is a “Change in Control,” as defined in Section 9(b8(b) of the Plan, unless either (i) the Company is the surviving entity in the Change in Control and the Option Award continues to be outstanding after the Change in Control on substantially the same terms and conditions as were applicable immediately prior to the Change in Control or (ii) the successor company or its parent company assumes or substitutes for the Option Award, as determined in accordance with Section 10(c)(ii9(c)(ii) of the Plan.

Appears in 2 contracts

Samples: Compensation Plan Incentive Stock Option Agreement (Quest Resource Holding Corp), Compensation Plan Non Qualified Stock Option Agreement (Quest Resource Holding Corp)

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Acceleration Upon Change in Control. This Option shall become immediately fully exercisable in the event that, prior to the termination of the Option pursuant to Section 6 hereof, and during the Optionee's ’s Continuous Service, there is a “Change in Control,” as defined in Section 9(b) of the Plan, unless either (i) the Company is the surviving entity in the Change in Control and the Option Award continues to be outstanding after the Change in Control on substantially the same terms and conditions as were applicable immediately prior to the Change in Control or (ii) the successor company or its parent company assumes or substitutes for the Option Award, as determined in accordance with Section 10(c)(ii) of the Plan.

Appears in 2 contracts

Samples: Non Qualified Stock Option Agreement (Quest Resource Holding Corp), Incentive Stock Option Agreement (Quest Resource Holding Corp)

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