Common use of Options Maintained or Matched; Third Year Accelerated Options Clause in Contracts

Options Maintained or Matched; Third Year Accelerated Options. If there is no Termination Event prior to an anticipated Change in Control and a Change in Control is consummated and as of the closing either: (i) AirNet is the surviving company to the Change in Control transaction, the Business is to be continued and AirNet maintains the Employee's then outstanding stock options or, (ii) AirNet is not the surviving company to the Change in Control transaction, and (A) the Business is to be continued by the buyer or successor; and (B) the buyer or successor grants options to the Employee for the purchase of the buyer's or successor's stock with a proportionate number of shares and exercise price per share and the same vesting schedule as with the Options; and (C) the buyer or successor specifically assumes the potential obligation to accelerate the vesting of options under this Section 3.3(b); then the following provisions in this Section 3.3(b) apply. In the event of (i) a Termination Event within 12 months following the Change in Control; or (ii) in the event the Employee completes 12 months of employment with the Company or its successor following the Change in Control, then unvested Options or the equivalent unvested buyer or successor options ("Third Year Accelerated Options") which would have vested during the third year following the closing of the Change in Control, (assuming and calculated as if all Options or the equivalent unvested buyer or successor options would otherwise have vested on a pro rata daily basis) shall vest and become immediately exercisable for as long as Employee continues to be employed by the Company or such successor and for a period of 90 days thereafter.