Common use of Severance Vesting Clause in Contracts

Severance Vesting. The vesting of the Equity Award (as defined in Section 6) and of all restricted stock or stock option or other equity grants that Employee 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 six (6) 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 (as defined in Section 6.8(b) of the Company’s 1999 Stock Incentive Plan), 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 2(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 twelve (12) months of continuous service to the Company.

Appears in 2 contracts

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

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Severance Vesting. The vesting of the Equity Award Employee’s “Restricted Stock Award” (as defined below in Section 6) and of all other restricted stock or stock option or other equity grants that Employee 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 six twelve (612) 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 (as defined in Section 6.8(b) of the Company’s 1999 Stock Incentive Plan), 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 2(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 twelve twenty-four (1224) months of continuous service to the Company.

Appears in 1 contract

Samples: Executive Employment Agreement (Mattersight Corp)

Severance Vesting. The vesting of the Equity Award Employee’s “Restricted Stock Award” (as defined below in Section 6Paragraph 7) and of all other restricted stock or stock option or other equity grants that Employee previously has 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 six twelve (612) months of continuous service to the Company; provided, however, that if Employee is terminated without Cause cause within six (6) months following a Change in Control (as defined in Section 6.8(b) of the Company’s 1999 Stock Incentive Plan)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 2(b)(ii3(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 twelve twenty-four (1224) months of continuous service to the Company.

Appears in 1 contract

Samples: Executive Employment Agreement (Eloyalty Corp)

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Severance Vesting. The vesting of the Equity Award (as defined in Section 6) and of all restricted stock or stock option or other equity grants that Employee has previously 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 six twelve (612) 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 (as defined in Section 6.8(b) of the Company’s 1999 Stock Incentive Plan), 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 2(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 twelve twenty-four (1224) months of continuous service to the Company.

Appears in 1 contract

Samples: Executive Employment Agreement (Mattersight Corp)

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