Equity Treatment Generally Clause Samples
The 'Equity Treatment Generally' clause defines how equity interests, such as shares or stock options, are to be treated under the agreement. It typically clarifies whether certain rights, obligations, or restrictions apply equally to all classes of equity or only to specific types, and may address issues like voting rights, dividend entitlements, or conversion features. This clause ensures consistent and transparent handling of equity-related matters, reducing ambiguity and potential disputes among stakeholders regarding their respective rights and obligations.
Equity Treatment Generally. Upon consummation of a Change in Control during the Term, or any Renewal Term, the effect upon any unvested stock options, warrants, restricted stock and restricted stock units in the Company (including but not limited to any shares granted under this Agreement and any appendixes hereto) held in the name of the Executive (the “Securities”), or any portion thereof, shall (unless otherwise provided for herein) be as provided for under the applicable grant agreements and plan document(s) governing such Securities.
Equity Treatment Generally. Other than as set forth in this Section 4, the effect of any consummation of a Change in Control during the Term or upon the Executive’s termination of employment hereunder on any unvested stock options, warrants, restricted stock and restricted stock units in the Company held in the name of the Executive (the “Incentive Securities”), or any portion thereof, shall (unless otherwise provided for herein) be as provided for under the applicable grant agreements and plan document(s) governing such Incentive Securities. Except as expressly provided in Sections 4(b) and 4(c), and in the following sentence of this Section 4(a), the Company and Executive agree and acknowledge that, notwithstanding any provision in any agreement between the Executive and the Company to the contrary, for purposes of vesting in and determining the level of performance achievement under any Incentive Securities or other incentive equity awards held by the Executive (whether vested or unvested), the terms of the applicable grant agreements and plan document(s) governing such Incentive Securities or awards shall govern. Except as expressly provided in this Agreement, during the Initial Term of this Agreement, vesting and acceleration treatment for future incentive awards will be no less favorable to Executive than the treatment under the 2023 grants, unless the Compensation Committee reasonably determines in good faith that a deviation is necessary to comply with applicable legal requirements or to avoid treatment that is unreasonable versus peers due to a significant shift in market practices.