Common use of Partial Option Acceleration Clause in Contracts

Partial Option Acceleration. The vesting schedule in effect for the shares of Common Stock subject to your Options, to the extent outstanding at the time of your Involuntary Termination, will be accelerated by an additional six (6) months so that each such Option shall immediately become exercisable for the additional number of shares for which that Option would have otherwise been exercisable under the normal vesting schedule in effect for that Option had you actually rendered an additional six (6) months of service with the Company prior to the date of your Involuntary Termination. You will have until the earlier of (i) the expiration of the option term, (ii) the termination of the Option in connection with a Change in Control or similar event as provided in the applicable Plan and/or stock option agreement, or (iii) the end of the limited post-employment exercise period specified in the applicable stock option agreement for such Option in which to exercise such Option for any or all of the shares of Common Stock for which that Option is vested and exercisable at the time of your Involuntary Termination, including the shares of Common Stock which vest on an accelerated basis in accordance with the foregoing provisions of this subparagraph (d). This Paragraph (d) shall control as to each such Option notwithstanding anything in the applicable Plan and/or stock option agreement to the contrary.

Appears in 4 contracts

Samples: Severance Agreement (Ask Jeeves Inc), Severance Agreement (Ask Jeeves Inc), Severance Agreement (Ask Jeeves Inc)

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