Change of Control Vesting Acceleration. (a) In the event of a Change of Control (as defined below), one hundred percent (100%) of Executive’s then-unvested Restricted Stock, RSUs, Options or Shares shall immediately vest, all Performance Bonus (both current and future) are immediately due and payable, regardless of whether the milestone has been achieved. After a Change of Control (as defined below), in the event that (i) Executive’s aggregate compensation is substantially diminished (regardless of Executive’s title, duties, or responsibilities) or (ii) Executive is required to relocate more than one hundred (100) miles from Executive’s then-current residence in order to continue to perform Executive’s duties under this Agreement, all of Executive’s then-unvested Restricted Stock, RSUs, Options or Shares and other equity awards shall immediately vest in full, and if, after a Change of Control, Executive terminates Executive’s employment with the Company, he shall be entitled to receive all severance benefits set forth in Section 4(c). (b) For the purposes of this Agreement, “Change of Control” is defined as the occurrence of any of the following after the Employment Commencement Date:
Appears in 2 contracts
Samples: Executive Employment Agreement (Atlantic International Corp.), Executive Employment Agreement (SeqLL, Inc.)
Change of Control Vesting Acceleration. (a) In the event of a Change of Control (as defined below), one hundred percent (100%) of Executive’s then-unvested Restricted Stockrestricted stock awards, RSUs, Options Options, Warrants or Shares shall immediately vest, all Performance Bonus (both current and future) are immediately due and payable, regardless of whether the milestone has been achieved. .
(b) After a Change of Control (as defined below), in the event that (i) Executive’s aggregate compensation is substantially diminished (regardless of Executive’s title, duties, or responsibilities) or (ii) Executive is required to relocate more than one hundred (100) miles from Executive’s then-current residence in order to continue to perform Executive’s duties under this Agreement, all of Executive’s then-unvested Restricted Stock, RSUs, Options or Shares and other equity awards shall immediately vest in full, and if, after a Change of Control, Executive terminates Executive’s employment with the Company, he shall be entitled to receive all severance benefits set forth in Section 4(c).
(bc) For the purposes of this Agreement, “Change of Control” is defined as the occurrence of any of the following after the Employment Commencement Date:
Appears in 2 contracts
Samples: Executive Employment Agreement (Atlantic International Corp.), Executive Employment Agreement (SeqLL, Inc.)
Change of Control Vesting Acceleration. (a) In the event of a Change of Control (as defined below), one hundred percent (100%) of Executive’s then-unvested Restricted Stockrestricted stock awards, RSUs, Options or Options, Warrants, Shares shall immediately vest, all Performance Bonus (both current and future) are immediately due and payable, regardless of whether the milestone has been achieved. .
(b) After a Change of Control (as defined below), in the event that (i) Executive’s aggregate compensation is substantially diminished (regardless of Executive’s title, duties, or responsibilities) or (ii) Executive is required to relocate more than one hundred (100) miles from Executive’s then-current residence in order to continue to perform Executive’s duties under this Agreement, all of Executive’s then-unvested Restricted Stock, RSUs, Options or Shares and other equity awards shall immediately vest in full, and if, after a Change of Control, Executive terminates Executive’s employment with the Company, he shall be entitled to receive all severance benefits set forth in Section 4(c).
(bc) For the purposes of this Agreement, “Change of Control” is defined as the occurrence of any of the following after the Employment Commencement Date:
Appears in 2 contracts
Samples: Executive Employment Agreement (Atlantic International Corp.), Executive Employment Agreement (SeqLL, Inc.)