Common use of Severance Vesting Clause in Contracts

Severance Vesting. The vesting of Employee’s restricted stock, stock option and other equity grants that Employee has then received or may in the future receive from the Company, shall be accelerated so that, as of the date of the termination, such restricted stock and stock option grants shall vest as to the number of shares that would have vested had Employee provided an additional twelve (12) months of continuous service to the Company, provided, however, that if Employee is terminated without cause within six (6) months following a Change in Control, Employee terminates his employment for Good Reason within six (6) months following a Change in Control, or Employee terminates his employment for the Good Reason described in clause (E) of Section 3(b)(ii), then such restricted stock and stock option grants shall vest as to the number of shares that would have vested had Employee provided an additional twenty-four (24) months of continuous service to the Company.

Appears in 2 contracts

Samples: Employment Agreement, Executive Employment Agreement (Eloyalty Corp)

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Severance Vesting. The vesting of Employee’s restricted stock, stock option and other equity grants that Employee previously has then received or may in the future receive from the Company, shall be accelerated so that, as of the date of the termination, such restricted stock and stock option grants shall vest as to the number of shares that would have vested had Employee provided an additional twelve (12) months of continuous service to the Company, ; provided, however, that if Employee is terminated without cause within six (6) months following a Change in Control, Employee terminates his her employment for Good Reason within six (6) months following a Change in Control, or Employee terminates his her employment for the Good Reason within six (6) months following a Change in Control, or Employee terminates her employment for the Good Reason described in clause (E) of Section 3(b)(ii), then such restricted stock and stock option grants shall vest as to the number of shares that would have vested had Employee provided an additional twenty-four (24) months of continuous service to the Company.

Appears in 1 contract

Samples: Executive Employment Agreement (Eloyalty Corp)

Severance Vesting. The vesting of Employee’s restricted stock, stock option options and other equity grants that Employee previously has then received or may in the future receive from the Company, shall be accelerated so that, as of the date of the termination, such restricted stock and stock option grants shall vest as to the number of shares that would have vested had Employee provided an additional twelve (12) months of continuous service to the Company, ; provided, however, that if Employee is terminated without cause within six (6) months following a Change in Control, Employee terminates his employment for Good Reason within six (6) months following a Change in Control, or Employee terminates his employment for the Good Reason described in clause (E) of Section 3(b)(ii), then such restricted stock and stock option grants shall vest as to the number of shares that would have vested had Employee provided an additional twenty-four (24) months of continuous service to the Company.

Appears in 1 contract

Samples: Executive Employment Agreement (Eloyalty Corp)

Severance Vesting. The vesting of Employee’s 's restricted stock, stock option and other equity grants that Employee previously has then received or may in the future receive from the Companyreceived, shall be accelerated so that, as of the date of the termination, such restricted stock and stock option grants shall vest as to the number of shares that would have vested had Employee provided an additional twelve (12) months of continuous service to the Company, provided, however, that if Employee is terminated without cause within six (6) months following a Change in Control, Employee terminates his employment for Good Reason within six (6) months following a Change in Control, or Employee terminates his employment for the Good Reason described in clause (E) of Section 3(b)(ii), then such restricted stock and stock option grants shall vest as to the number of shares that would have vested had Employee provided an additional twenty-four (24) months of continuous service to the Company.

Appears in 1 contract

Samples: Employment Agreement (Eloyalty Corp)

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Severance Vesting. The vesting of Employee’s restricted stock, stock option and other equity grants that Employee previously has then received or may in the future receive from the Company, shall be accelerated so that, as of the date of the termination, such restricted stock and stock option grants shall vest as to the number of shares that would have vested had Employee provided an additional twelve (12) months of continuous service to the Company, provided, however, that if Employee is terminated without cause within six (6) months following a Change in Control, Employee terminates his employment for Good Reason within six (6) months following a Change in Control, or Employee terminates his employment for the Good Reason described in clause (E) of Section 3(b)(ii), then such restricted stock and stock option grants shall vest as to the number of shares that would have vested had Employee provided an additional twenty-four (24) months of continuous service to the Company.

Appears in 1 contract

Samples: Executive Employment Agreement (Eloyalty Corp)

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