Common use of Change of Control; Option Vesting Clause in Contracts

Change of Control; Option Vesting. If a Change of Control occurs while Employee is employed by the Company, then, whether or not Employee is terminated in connection with the Change of Control and notwithstanding any contrary or inconsistent provision of any option granted to the Employee by the Company, the unvested options held by the Employee immediately before such Change of Control shall vest upon such Change of Control.

Appears in 12 contracts

Samples: Severance Compensation and Change of Control Agreement (Centra Software Inc), Severance Compensation and Change of Control Agreement (Centra Software Inc), Severance Compensation and Change of Control Agreement (Centra Software Inc)

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Change of Control; Option Vesting. If a Change of Control occurs while Employee the Executive is employed by the Company, Company then, whether or not Employee Executive is terminated in connection with the Change of Control and notwithstanding any contrary or inconsistent provision of any option granted to the Employee Executive by the Company, the unvested options held by the Employee Executive immediately before such Change of Control shall vest upon such Change of Control.

Appears in 1 contract

Samples: Severance Compensation and Change of Control Agreement (Centra Software Inc)

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