Common use of Option Vesting Clause in Contracts

Option Vesting. Any shares covered by Company stock options, whether granted to you before, on or after the Effective Date) that are unvested and unexpired on the Termination Date, except for options that vest solely upon the achievement of a performance objective or objectives or options that have their vesting accelerate upon the achievement of a performance objective or objectives, will become fully vested and exercisable on the Termination Date if the shares otherwise would have vested (solely by virtue of your continued employment with the Company and not, directly or indirectly, due to a change of control of the Company) during the one-year period commencing on the Termination Date. Any other unvested options will be forfeited on the Termination Date.

Appears in 7 contracts

Samples: Severance Agreement (Palmsource Inc), Severance Agreement (Palmsource Inc), Severance Agreement (Palm Inc)

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Option Vesting. Any shares covered by Company stock options, (whether granted to you before, on or after the Effective Date) that are unvested and unexpired on the Termination Date, except for options that vest solely upon the achievement of a performance objective or objectives or options that have their vesting accelerate upon the achievement of a performance objective or objectives, will become fully vested and exercisable on the Termination Date if the shares otherwise would have vested (solely by virtue of your continued employment with the Company and not, directly or indirectly, due to a change of control of the Company) during the one-year period commencing on the Termination Date. Any other unvested options will be forfeited on the Termination Date.

Appears in 3 contracts

Samples: Severance Agreement (Palmsource Inc), Severance Agreement (Palmsource Inc), Severance Agreement (Palmsource Inc)

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