Equity Grants. Immediately prior to a Change in Control, (i) all options granted by Westport to the Employee shall be 100% vested and immediately exercisable, and the exercise term thereof shall end upon the earlier of: the first anniversary of the date of termination of employment and the end of the original exercise term, and (ii) all restrictions shall lapse with respect to all grants of restricted stock held by Employee.
Appears in 10 contracts
Samples: Change in Control Severance Protection Agreement (Westport Resources Corp /Nv/), Change in Control Severance Protection Agreement (Westport Resources Corp /Nv/), Change in Control Severance Protection Agreement (Westport Finance Co)
Equity Grants. Immediately prior to a Change in Control, (i) all options granted by Westport to the Employee Officer shall be 100% vested and immediately exercisable, and the exercise term thereof shall end upon the earlier of: the first anniversary of the date of termination of employment and the end of the original exercise term, and (ii) all restrictions shall lapse with respect to all grants of restricted stock held by EmployeeOfficer.
Appears in 2 contracts
Samples: Employment Agreement (Westport Resources Corp /Nv/), Employment Agreement (Westport Resources Corp /Nv/)
