Common use of Full Accelerated Vesting Clause in Contracts

Full Accelerated Vesting. Notwithstanding the provisions of Section 2(a) hereof, upon (i) the Grantee’s termination of employment as a result of death or Disability, or (ii) the occurrence of a Change in Control of the Company while the Grantee is employed by the Company, the transfer restrictions and forfeiture conditions imposed hereunder on any Restricted Shares shall immediately lapse and all such unvested shares shall become fully and immediately vested.

Appears in 3 contracts

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

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Full Accelerated Vesting. Notwithstanding the provisions of Section 2(a) hereof, upon (i) the Grantee’s termination of employment as a result of death or Disability, or (ii) the occurrence of a Change in Control of the Company while the Grantee is employed by the CompanyCompany or any Subsidiary, the transfer restrictions and forfeiture conditions imposed hereunder on any Restricted Shares shall immediately lapse and all such unvested shares shall become fully and immediately vested.

Appears in 1 contract

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

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