Common use of Change of Control Option Acceleration Clause in Contracts

Change of Control Option Acceleration. In the event of a Change of Control, the vesting and/or exercisability of fifty percent (50%) of Executive’s then-outstanding Stock Awards shall be automatically accelerated immediately prior to the effective date of such Change of Control.

Appears in 15 contracts

Samples: Executive Severance Benefits Agreement, Executive Severance Benefits Agreement (Sunesis Pharmaceuticals Inc), Executive Severance Benefits Agreement (Sunesis Pharmaceuticals Inc)

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Change of Control Option Acceleration. In the event of a Change of Control, the vesting and/or exercisability of fifty percent (50%) of Executive’s then-outstanding Stock Awards shall be automatically accelerated immediately prior to the effective date of such Change of Control.

Appears in 9 contracts

Samples: Executive Severance Benefits Agreement (Sunesis Pharmaceuticals Inc), Executive Severance Benefits Agreement (Sunesis Pharmaceuticals Inc), Executive Severance Benefits Agreement (Sunesis Pharmaceuticals Inc)

Change of Control Option Acceleration. In the event of a Change of Control, the vesting and/or exercisability of fifty percent (50%) of Executive’s then-outstanding Stock Awards shall be accelerated automatically accelerated immediately prior to the effective date of such Change of ControlControl as to fifty percent (50%) of the unvested shares subject to Executive’s outstanding Stock Awards. For the avoidance of doubt, the fifty percent (50%) of shares subject to acceleration of vesting described in this Section 2.1 shall be limited to the portion of Executive’s outstanding Stock Awards that is unvested as of the date of the accelerated vesting.

Appears in 1 contract

Samples: Executive Severance Benefits Agreement (Novacea Inc)

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Change of Control Option Acceleration. In the event of a Change of Control, the vesting and/or exercisability of fifty percent (50%) of Executive’s then-outstanding Stock Awards shall be accelerated automatically accelerated immediately prior to the effective date of such Change of ControlControl as to fifty percent (50%) of the unvested shares subject to such Stock Awards. For the avoidance of doubt, the fifty percent (50%) of shares subject to acceleration of vesting described in this Section 2.1 shall be limited to the portion of Executive’s outstanding Stock Awards that is unvested as of the date of the accelerated vesting.

Appears in 1 contract

Samples: Executive Severance Benefits Agreement (Novacea Inc)

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