Common use of Lapse of Restrictions on Benefits Clause in Contracts

Lapse of Restrictions on Benefits. Except to the extent expressly prohibited by any applicable law or regulation or the terms of any applicable benefit plans, any and all restrictions, vesting schedules or schedule of exercise provided in any agreement with the Executive shall immediately lapse and Executive shall be entitled immediately to receive all benefits and exercise all rights previously granted him thereunder. Notwithstanding any provision of this Agreement to the contrary, the options granted under Section 15 hereof shall immediately vest upon a Termination.

Lapse of Restrictions on Benefits. Except to the extent expressly prohibited by any applicable law or regulation or the terms of any applicable benefit plans, any and all restrictions, vesting schedules or schedule of exercise provided in any agreement with the Executive shall immediately lapse lapse, and the Executive shall be entitled immediately to receive all benefits and exercise all rights previously granted him thereunder. Notwithstanding any provision of this Agreement to the contrary, the options granted under Section 15 hereof shall immediately vest upon a Termination.

Lapse of Restrictions on Benefits. Except to the extent expressly prohibited by any applicable law or regulation or the terms of any applicable benefit plans, any and all restrictions, vesting schedules or schedule of exercise provided in any agreement with the Executive shall immediately lapse and Executive shall be entitled immediately to receive all benefits and exercise all rights previously granted granted. him thereunder. Notwithstanding any provision of this Agreement to the contrary, the options granted under Section 15 hereof shall immediately vest upon a Termination.