Common use of Double Trigger Acceleration on Change in Control Clause in Contracts

Double Trigger Acceleration on Change in Control. (i) All of the RSUs shall immediately vest if a Change in Control (as defined below) occurs and at any time after the Change in Control and on or before the first anniversary of the Change in Control, (i) the Recipient’s employment is terminated by the Company (or its successor) without Cause (as defined below), or (ii) the Recipient’s employment is terminated by the Recipient for Good Reason (as defined below); provided, however, that the RSUs may also immediately vest in connection with a sale of the Company as provided in Section 1(c)(4) below.

Appears in 4 contracts

Samples: Award Agreement (MKS Instruments Inc), Award Agreement (MKS Instruments Inc), Award Agreement (Electro Scientific Industries Inc)

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Double Trigger Acceleration on Change in Control. (i) All of the RSUs shall immediately vest if a Change in Control (as defined below) occurs and at any time after the Change in Control and on or before the first anniversary of the Change in Control, (i) the Recipient’s employment or service is terminated by the Company (or its successor) without Cause (as defined below), or (ii) the Recipient’s employment or service is terminated by the Recipient for Good Reason (as defined below); provided, however, that the RSUs may also immediately vest in connection with a sale of the Company Change in Control as provided in Section 1(c)(4) below.

Appears in 1 contract

Samples: Award Agreement (Electro Scientific Industries Inc)

Double Trigger Acceleration on Change in Control. (i) All of the RSUs shall immediately vest if a Change in Control (as defined below) occurs and at any time after the earlier of Shareholder Approval (as defined below), if any, or the Change in Control and on or before the first second anniversary of the Change in Control, (i) the Recipient’s employment or service is terminated by the Company (or its successor) without Cause (as defined below), or (ii) the Recipient’s employment or service is terminated by the Recipient for Good Reason (as defined below); provided, however, that the RSUs may also immediately vest in connection with a sale of the Company Change in Control as provided in Section 1(c)(4) 9.2 below.

Appears in 1 contract

Samples: Global Restricted Stock Unit Agreement (Nike Inc)

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Double Trigger Acceleration on Change in Control. (i) All of the RSUs shall immediately vest if a Change in Control (as defined below) occurs and at any time on or after the Change in Control and on or before the first anniversary of the Change in Control, (i) the Recipient’s employment service is terminated by the shareholders of the Company (or its successor) without Cause (as defined below)cause, or (ii) the Recipient’s employment is terminated by the Recipient service as a director terminates as a result of not being renominated for Good Reason (as defined below)election; provided, however, that the RSUs may also immediately vest in connection with a sale of the Company as provided in Section 1(c)(4) below.

Appears in 1 contract

Samples: Award Agreement (Electro Scientific Industries Inc)

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