Common use of Option Acceleration Clause in Contracts

Option Acceleration. Each Option outstanding at the time of Executive’s termination, but not otherwise vested and exercisable for all of the shares subject to that Option, will immediately vest on an accelerated basis so that each such Option shall become exercisable for an additional amount equal to one hundred percent (100%) of the then unvested shares under such Option, and any shares subject to those Options which are not otherwise issued and outstanding at the time of such acceleration shall be issued to Executive in accordance with the terms of the Options.

Appears in 13 contracts

Samples: Indemnity Agreement (Symantec Corp), Employment Agreement (Symantec Corp), Employment Agreement (Symantec Corp)

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Option Acceleration. Each Option outstanding at the time of Executive’s 's termination, but not otherwise vested and exercisable for all of the shares subject to that Option, will immediately vest on an accelerated basis so that each such Option shall become exercisable for an additional amount equal to one hundred percent (100%) of the then unvested shares under such Option, and any shares subject to those Options which are not otherwise issued and outstanding at the time of such acceleration shall be issued to Executive in accordance with the terms of the Options.

Appears in 1 contract

Samples: Change in Control Agreement (Veritas Software Corp /De/)

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Option Acceleration. Each Option outstanding at the time of Executive’s 's termination, but not otherwise vested and exercisable for all of the shares subject to that Option, will immediately vest on an accelerated basis so that each such Option shall become exercisable for an additional amount equal to one hundred percent (100%) of the then unvested shares under such Option, Option and any shares subject to those Options which are not otherwise issued and outstanding at the time of such acceleration shall be issued to Executive in accordance with the terms of the Options.

Appears in 1 contract

Samples: Control Agreement (Veritas Software Corp /De/)

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