Common use of Equity Awards Granted Prior to the Effective Date Clause in Contracts

Equity Awards Granted Prior to the Effective Date. In the event of a Change of Control, subject to Employee’s continued status as an employee with the Company through the effective date of such Change of Control, 50% of Employee’s outstanding, unvested equity awards granted prior to the Effective Date will vest and become exercisable on the effective date of such Change of Control. Unless earlier accelerated pursuant to Section 8 below, the remaining portion of Employee’s unvested equity awards that were granted prior to the Effective Date will continue to vest and become exercisable in accordance with their original vesting schedule; provided, however, that any unvested portion of Employee’s outstanding equity awards will vest and become exercisable on the first to occur of (i) Employee’s termination by the Company other than for Cause; (ii) Employee’s termination for Good Reason; or (iii) if Employee remains an employee through such date, the date that is twelve (12) months following the effective date of the Change of Control.

Appears in 3 contracts

Samples: Employment Agreement (Kythera Biopharmaceuticals Inc), Employment Agreement (Kythera Biopharmaceuticals Inc), Employment Agreement (Kythera Biopharmaceuticals Inc)

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Equity Awards Granted Prior to the Effective Date. In the event of a Change of Control, subject to Employee’s continued status as an employee with the Company through the effective date of such Change of Control, 50% of Employee’s outstanding, unvested equity awards granted prior to the Effective Date will vest and become exercisable on the effective date of such Change of Control. Unless earlier accelerated pursuant to Section 8 below, the remaining portion of Employee’s unvested equity awards that were granted prior to the Effective Date will continue to vest and become exercisable in accordance with their original vesting schedule; provided, however, that any unvested portion of Employee’s outstanding equity awards will vest and become exercisable on the first to occur of (i) Employee’s termination by the Company other than for Cause; (ii) Employee’s termination for Good Reason; or (iii) if Employee remains an employee through such date, the date that is twelve eighteen (1218) months following the effective date of the Change of Control.

Appears in 2 contracts

Samples: Employment Agreement (Kythera Biopharmaceuticals Inc), Employment Agreement (Kythera Biopharmaceuticals Inc)

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