COMPANY'S ELECTION. In the circumstances described in subsection 2.A, the Company has the right to choose to settle in cash, as described in subsection 2.E below, all or any portion of Employee’s stock awards. The Employee shall surrender and transfer to the Company all stock awards that the Company elects to settle in cash. Any stock awards that are not settled in cash shall thereafter continue or lapse in accordance with the other provisions of the plan and the award agreement under which they were granted.
Appears in 2 contracts
Samples: Employment Termination Benefits Agreement (Zix Corp), Employment Termination Benefits Agreement (Zix Corp)
COMPANY'S ELECTION. In the circumstances described in subsection 2.A, the Company has the right to choose to settle in cash, as described in subsection 2.E below, all or any portion of Employee’s stock awards. The Employee shall surrender and transfer to the Company all stock awards that the Company elects to settle in cash. Any stock awards that are not settled in cash shall thereafter continue or lapse in accordance with the other provisions of the plan and the award agreement under which they were granted.
Appears in 2 contracts
Samples: Letter Agreement Concerning Transition Matters (Zix Corp), Employment Termination Benefits Agreement (Zix Corp)
COMPANY'S ELECTION. In the circumstances described in subsection subsections 2.A, the Company has the right to choose to settle in cash, as described in subsection 2.E 2.D below, all or any portion of Employee’s stock awardsoptions. The Employee shall surrender and transfer to the Company all stock awards options that the Company elects to settle settled in cash. Any stock awards options that are not settled in cash shall thereafter continue or lapse in accordance with the other provisions of the plan and the award agreement under which they were granted.
Appears in 1 contract
Samples: Employment Termination Benefits Agreement (Zix Corp)
