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 Spring 2002 Focal Review Option will be accelerated by an additional six (6) months so that 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 or (ii) the end of the limited post-employment exercise period specified in the applicable stock option agreement for your Spring 2002 Focal Review 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).

Appears in 3 contracts

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

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Partial Option Acceleration. The vesting schedule in effect for the shares of Common Stock subject to your Spring 2002 Focal Review Initial Option Grant will be accelerated by an additional six (6) months so that 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 or (ii) the end of the limited post-employment exercise period specified in the applicable stock option agreement for your Spring 2002 Focal Review Initial Option Grant 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).

Appears in 1 contract

Samples: Severance Agreement (Ask Jeeves Inc)

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