Common use of Equity Award Acceleration Clause in Contracts

Equity Award Acceleration. Subject to Section 2(d), if a Change in Control occurs, and the Successor assumes or replaces the stock options or stock awards granted under any Benefit Plan then held by the Covered Employee and the Covered Employee continues to be employed by the Company after the Change in Control, then all such stock options or stock awards held by the Covered Employee which are unvested or restricted shall vest and be immediately exercisable in full, or become unrestricted, as the case may be, upon a termination of employment by the Company for any reason other than for Cause, death or disability or by the Covered Employee with Good Reason, in either case, following such Change in Control and, notwithstanding the provisions of any Benefit Plan, all options held by the Covered Employee shall remain exercisable until one year after the Date of Termination of either such termination, but in no event after the expiration date of any stock option.

Equity Award Acceleration. Subject to Section 2(d), if a Change in Control occurs, and the Successor assumes or replaces the stock options or stock awards granted under any Benefit Plan then held by the Covered Employee and the Covered Employee continues to be employed by the Company after the Change in Control, then all such stock options or stock awards held by the Covered Employee which are unvested or restricted shall vest and be immediately exercisable in full, or become unrestricted, as the case may be, upon a termination Termination of employment Employment by the Company for any reason other than for Cause, death or disability or by the Covered Employee with Good Reason, in either case, following such Change in Control and, notwithstanding the provisions of any Benefit Plan, all options held by the Covered Employee shall remain exercisable until one year after the Date of Termination of either such termination, but in no event after the expiration date of any stock option.