Common use of INVOLUNTARY TERMINATION FOLLOWING CHANGE IN CONTROL Clause in Contracts

INVOLUNTARY TERMINATION FOLLOWING CHANGE IN CONTROL. 1. To the extent the Option is, in connection with a Change in Control transaction, to be assumed or otherwise continued in full force or effect in accordance with Paragraph 6 of the Option Agreement, the Option shall not accelerate upon the occurrence of that Change in Control, and the Option shall accordingly continue, over Optionee's period of Service after the Change in Control, to become exercisable for the Option Shares in one or more installments in accordance with the provisions of the Option Agreement. However, immediately upon an Involuntary Termination of Optionee's Service within eighteen (18) months following such Change in Control, the Option, to the extent outstanding at the time but not otherwise fully exercisable, shall automatically accelerate so that the Option shall become immediately exercisable for all the Option Shares at the time subject to the Option and may be exercised for any or all of those Option Shares as fully vested shares.

Appears in 4 contracts

Samples: Stock Option Agreement (Collateral Therapeutics Inc), Stock Option Agreement (Restoration Hardware Inc), Stock Option Agreement (Collateral Therapeutics Inc)

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INVOLUNTARY TERMINATION FOLLOWING CHANGE IN CONTROL. 1. To the extent the Option is, in connection with a Change in Control transactionControl, to be assumed or otherwise continued in full force or and effect in accordance with Paragraph 6 of the Option Agreement, the Option shall not accelerate upon the occurrence of that Change in Control, and the Option shall accordingly continue, over Optionee's period of Service after the Change in Control, to become exercisable for the Option Shares in one or more installments in accordance with the provisions of the Option Agreement. However, immediately upon an Involuntary Termination of Optionee's Service within eighteen (18) months following such Change in Control, the assumed Option, to the extent outstanding at the time but not otherwise fully exercisable, shall automatically accelerate so that the Option shall become immediately exercisable for all the Option Shares at the time subject to the Option and may be exercised for any or all of those Option Shares as fully vested shares.

Appears in 1 contract

Samples: Stock Option Agreement (Broadcom Corp)

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INVOLUNTARY TERMINATION FOLLOWING CHANGE IN CONTROL. 1. To the extent the Option is, in connection with a Change in Control transactionControl, to be assumed or otherwise continued in full force or and effect in accordance with Paragraph 6 of the Option Agreement, the Option shall not accelerate upon the occurrence of that Change in Control, and the Option shall accordingly continue, over Optionee's ’s period of Service after the Change in Control, to become exercisable for the Option Shares in one or more installments in accordance with the provisions of the Option Agreement. However, immediately upon an Involuntary Termination of Optionee's ’s Service within eighteen (18) months following such Change in Control, the assumed Option, to the extent outstanding at the time but not otherwise fully exercisable, shall automatically accelerate so that the Option shall become immediately exercisable for all the Option Shares at the time subject to the Option and may be exercised for any or all of those Option Shares as fully vested shares.

Appears in 1 contract

Samples: Stock Option Agreement (Multilink Technology Corp)

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