Equity Compensation Adjustments. (i) For a upon a Qualifying Termination in conjunction with a Change in Control, if the successor fails to assume the Equity Plan: (i) any equity-based compensation awards, other than performance-based equity awards, granted to Employee by the Company under an Equity Plan prior to such termination that are outstanding will, to the extent that the terms of the Equity Plan and its associated award agreements do not provide for the immediate vesting, exercisability and/or settlement of such awards, fully vest, and (ii) any performance-based equity awards will be paid to Employee at 100% of the target value for such bonus.
Appears in 4 contracts
Samples: Employment Agreement (NUSCALE POWER Corp), Employment Agreement (NUSCALE POWER Corp), Employment Agreement (Spring Valley Acquisition Corp.)
