Common use of Immediate Vesting of Stock Options, Etc Clause in Contracts

Immediate Vesting of Stock Options, Etc. Any outstanding stock option or stock appreciation right granted to the Executive by the Company under the 2000 Stock Incentive Plan or otherwise (regardless of the date of grant) immediately shall become fully vested and exercisable in full, regardless of any installment provision applicable to such stock option or stock appreciation right, and the remaining restriction period on any restricted stock granted to the Executive by the Company under the 2000 Stock Incentive Plan or otherwise (regardless of the date of grant) immediately shall lapse and the shares shall become fully transferable, subject to any applicable federal or state securities laws.