Common use of CIC Qualified Termination Clause in Contracts

CIC Qualified Termination. Upon your CIC Qualified Termination, you will be entitled to the following benefits, subject to the terms and conditions of the Policy: • Equity Vesting: 100% of the then-unvested shares subject to each of your then-outstanding equity awards will immediately vest and, in the case of options and stock appreciation rights, will become exercisable (for avoidance of doubt, no more than 100% of the shares subject to the outstanding portion of an equity award may vest and become exercisable under this provision). In the case of equity awards with performance-based vesting, unless otherwise determined by the Company and set forth in your equity award agreement, all performance goals and other vesting criteria will be deemed achieved at 100% of target levels. • Salary Severance: 12 months of your Base Salary, payable in a lump sum on the 61st day following your CIC Qualified Termination.

Appears in 2 contracts

Samples: Participation Agreement (PMV Pharmaceuticals, Inc.), Participation Agreement (PMV Pharmaceuticals, Inc.)

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CIC Qualified Termination. Upon your CIC Qualified Termination, you will be entitled to the following benefits, subject to the terms and conditions of the Policy: • Equity Vesting: 100% of the then-unvested shares subject to each of your then-outstanding equity awards will immediately vest and, in the case of options and stock appreciation rights, will become exercisable (for avoidance of doubt, no more than 100% of the shares subject to the outstanding portion of an equity award may vest and become exercisable under this provision). In the case of equity awards with performance-based vesting, unless otherwise determined by the Company and set forth in your equity award agreement, all performance goals and other vesting criteria will be deemed achieved at 100% of target levels. • Salary Severance: 12 9 months of your Base Salary, payable in a lump sum on the 61st day following your CIC Qualified Termination.

Appears in 1 contract

Samples: Participation Agreement (PMV Pharmaceuticals, Inc.)

CIC Qualified Termination. Upon your CIC Qualified Termination, you will be entitled to the following benefits, subject to the terms and conditions of the Policy: • Equity Vesting: 100% of the then-unvested shares subject to each of your then-outstanding equity awards will immediately vest and, in the case of options and stock appreciation rights, will become exercisable (for avoidance of doubt, no more than 100% of the shares subject to the outstanding portion of an equity award may vest and become exercisable under this provision). In the case of equity awards with performance-based vesting, unless otherwise determined by the Company and set forth in your equity award agreement, all performance goals and other vesting criteria will be deemed achieved at 100% of target levels. • Salary Severance: 12 months of your Base Salary, payable in a lump sum on the 61st day following dayfollowing your CIC Qualified Termination.. •

Appears in 1 contract

Samples: Participation Agreement (PMV Pharmaceuticals, Inc.)

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CIC Qualified Termination. Upon your CIC Qualified Termination, you will be entitled to the following benefits, subject to the terms and conditions of the Policy: • Equity Vesting: 100% of the then-unvested shares subject to each of your then-outstanding equity awards will immediately vest and, in the case of options and stock appreciation rights, will become exercisable (for avoidance of doubt, no more than 100% of the shares subject to the outstanding portion of an equity award may vest and become exercisable under this provision). In the case of equity awards with performance-based vesting, unless otherwise determined by the Company and set forth in your equity award agreement, all performance goals and other vesting criteria will be deemed achieved at 100% of target levels. • Salary Severance: 12 18 months of your Base Salary, payable in a lump sum on the 61st day following your CIC Qualified Termination.

Appears in 1 contract

Samples: Participation Agreement (PMV Pharmaceuticals, Inc.)

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