Common use of Equity Rights Clause in Contracts

Equity Rights. As of the date of the Employee's termination under this paragraph, Employee shall be entitled to: (1) any vested portion of the Time-Vested Options and the Performance Options, which shall remain exercisable for the full term thereof and (2) that portion of the unvested Time-Vested Options which would have vested had the Employee remained employed for one (1) year beyond the date of termination shall become immediately and fully vested and exercisable and shall remain exercisable for the full term thereof. The remainder of the Time-Vested Options and Performance Options shall be forfeited.

Appears in 1 contract

Samples: Employment Agreement (Cumulus Media Inc)

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Equity Rights. As of the date of the Employee's ’s termination under this paragraph, Employee shall be entitled to: (1) to any vested portion of the Time-Vested Options and the Performance Options, which shall remain exercisable for until the full term thereof and (2) that portion earlier of the unvested Time-Vested Options which would have vested had the Employee remained employed for expiration of one (1) year beyond after the date of termination shall become immediately and fully vested and exercisable and shall remain exercisable for the expiration of the full term thereof. The remainder of the Time-Vested Options and Performance Options shall be forfeited.

Appears in 1 contract

Samples: Employment Agreement (Cumulus Media Inc)

Equity Rights. As of the date of the Employee's termination under this paragraph, Employee shall be entitled to: (1) any vested portion of the Time-Vested Options and the Performance OptionsOption, which shall remain exercisable for the full term thereof thereof; and (2) that portion of the unvested Time-Vested Options Option which would have vested had the Employee remained remain employed for one (1) year beyond the date of termination termination, shall become immediately and fully vested and exercisable and shall remain exercisable for the full term thereof. The remainder of the Time-Vested Options and Performance Options Option shall be forfeited.

Appears in 1 contract

Samples: Employment Agreement (Cumulus Media Inc)

Equity Rights. As of the date of the Employee's termination under this paragraph, Employee shall be entitled to: (1) to any vested portion of the Time-Vested Options and the Performance Options, which shall remain exercisable for until the full term thereof and (2) that portion earlier of the unvested Time-Vested Options which would have vested had the Employee remained employed for expiration of one (1) year beyond after the date of termination shall become immediately and fully vested and exercisable and shall remain exercisable for the expiration of the full term thereof. The remainder of the Time-Vested Options and Performance Options shall be forfeited.

Appears in 1 contract

Samples: Employment Agreement (Cumulus Media Inc)

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Equity Rights. As of the date of the Employee's termination under this paragraph, Employee shall be entitled to: (1) any vested portion of the Time-Vested Options and the Performance OptionsOption, which shall remain exercisable for the full term thereof and thereof; (2) that portion of the unvested Time-Vested Options Option which would have vested had the Employee remained remain employed for one (1) year beyond the date of termination termination, shall become immediately and fully vested and exercisable and shall remain exercisable for the full term thereof. The ; and (3) the remainder of the unvested portion of the Time-Vested Options and Performance Options Option shall be forfeited.

Appears in 1 contract

Samples: Employment Agreement (Cumulus Media Inc)

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