Single Trigger Accelerated Vesting Sample Clauses
The Single Trigger Accelerated Vesting clause provides that an employee’s unvested equity, such as stock options or restricted stock units, will immediately vest upon the occurrence of a specific event, typically a change in control of the company. For example, if the company is acquired, all or a portion of the employee’s remaining unvested shares become fully vested without any further employment requirement. This clause ensures that employees are rewarded for their contributions leading up to a significant corporate event and protects them from losing unvested equity due to circumstances beyond their control.
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Single Trigger Accelerated Vesting. As of the date of a Vesting CIC (regardless of whether or not Participant experiences a termination of employment), all unexpired equity-based awards (i.e. stock options, restricted stock awards, restricted stock unit awards, performance unit awards, etc.) then-held by Participant shall be fully vested to Participant; provided, however, that any equity-based award held by Participant which is deferred compensation under Section 409A of the Internal Revenue Code and the final Treasury Regulations thereunder (collectively, “Section 409A”), shall not be subject to accelerated vesting pursuant to this Section 3 unless the original terms of the equity-based award provide for such accelerated vesting. Any accelerated vesting per this Section 3 is subject to the provision and non-revocation of a release per Section 7.