Common use of Equity Compensation Acceleration Clause in Contracts

Equity Compensation Acceleration. Upon the Executive's Termination Upon Change of Control, (a) the vesting and exercisability of all then outstanding stock options, restricted stock, and other equity awards that are subject to time-based vesting and granted to the Executive under any Company Plans shall be accelerated as to 100% of the shares subject to any such equity awards granted to the Executive, and (b) any outstanding equity awards that vest based on the attainment of performance goals shall vest for the then-current fiscal year on a prorated basis based on the then level of attainment of the performance metrics determined in good faith by the Compensation Committee.

Appears in 3 contracts

Samples: Employment Agreement (GREENPOWER MOTOR Co INC.), Employment Agreement (GREENPOWER MOTOR Co INC.), Employment Agreement (GREENPOWER MOTOR Co INC.)

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Equity Compensation Acceleration. Upon the Executive's ’s Termination Upon Change of Control, (a) the vesting and exercisability of all then outstanding stock options, restricted stock, and other equity awards that are subject to time-based vesting and granted to the Executive under any Company Plans shall be accelerated as to 100% of the shares subject to any such equity awards granted to the Executive, and (b) any outstanding equity awards that vest based on the attainment of performance goals shall vest for the then-current fiscal calendar year on a prorated basis based on the then level of attainment of the performance metrics determined in good faith by the Compensation Committee.

Appears in 2 contracts

Samples: Employment Agreement (Workhorse Group Inc.), Employment Agreement (Workhorse Group Inc.)

Equity Compensation Acceleration. Upon the Executive's ’s Termination Upon Change of Control, (a) the vesting and exercisability of all then outstanding stock options, restricted stock, and other equity awards that are subject to time-based vesting and granted to the Executive under any Company Exhibit 10.29 Plans shall be accelerated as to 100% of the shares subject to any such equity awards granted to the Executive, and (b) any outstanding equity awards that vest based on the attainment of performance goals shall vest for the then-current fiscal calendar year on a prorated basis based on the then level of attainment of the performance metrics determined in good faith by the Compensation Committee.

Appears in 1 contract

Samples: Employment Agreement (Workhorse Group Inc.)

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Equity Compensation Acceleration. Upon the Executive's ’s Termination Upon Change of Control, (a) the vesting and exercisability of all then outstanding stock options, restricted stock, and other equity awards that are subject to time-based vesting and granted to the Executive under any Company Exhibit 10.28 Plans shall be accelerated as to 100% of the shares subject to any such equity awards granted to the Executive, and (b) any outstanding equity awards that vest based on the attainment of performance goals shall vest for the then-current fiscal calendar year on a prorated basis based on the then level of attainment of the performance metrics determined in good faith by the Compensation Committee.

Appears in 1 contract

Samples: Employment Agreement (Workhorse Group Inc.)

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