Common use of Full Accelerated Vesting Clause in Contracts

Full Accelerated Vesting. Notwithstanding the provisions of Section 3(a) hereof, upon (i) the Participant’s termination of employment as a result of death or Disability, or (ii) the occurrence of a “change in control” (as described in Section 1 hereof) of the Company, the Stock Units shall become fully and immediately vested, and shall be payable in accordance with Section 5 hereof, to the extent that they have not previously been forfeited in accordance with Section 4 hereof.

Appears in 2 contracts

Samples: Stock Unit Award Agreement (Ultimate Software Group Inc), Stock Unit Award Agreement (Ultimate Software Group Inc)

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Full Accelerated Vesting. Notwithstanding the provisions of Section 3(a) hereof, upon (i) the Participant’s termination of employment as a result of the Participant’s death or Disability, or (ii) the occurrence of a “change Change in control” (as described in Section 1 hereof) Control of the CompanyCompany while the Participant is employed by the Company or a Subsidiary, all of the Restricted Stock Units shall become fully and immediately vested, and shall be payable in accordance with Section 5 hereof, to the extent that they have not previously been forfeited in accordance with Section 4 hereof.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Ultimate Software Group Inc)

Full Accelerated Vesting. Notwithstanding the provisions of Section 3(a) hereof, upon (i) the Participant’s termination of employment as a result of the Participant’s death or Disability, or (ii) the occurrence of a “change Change in control” (as described in Section 1 hereof) Control of the Company, all of the Restricted Stock Units shall become fully and immediately vested, and shall be payable in accordance with Section 5 hereof, to the extent that they have not previously been forfeited in accordance with Section 4 hereof.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Ultimate Software Group Inc)

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Full Accelerated Vesting. Notwithstanding the provisions of Section 3(a) hereof, upon (i) the Participant’s termination of employment as a result of the Participant’s death or Disability, or (ii) the occurrence of a “change Change in control” (as described in Section 1 hereof) Control of the CompanyCompany while the Participant is employed by the Company or a Subsidiary, all of the Restricted Stock Units shall become fully and immediately vested, and shall be payable deliverable in accordance with Section 5 hereof, to the extent that they have not previously been forfeited in accordance with Section 4 hereof.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Ultimate Software Group Inc)

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