Common use of Special Vesting Acceleration Clause in Contracts

Special Vesting Acceleration. (a) Should a Change in Control or Hostile Take-Over occur during the Participant’s period of service as a Board member, then the Restricted Stock Units at the time subject to this Award will vest immediately prior to (i) the closing of such Change in Control or (ii) the effective date of such Hostile Take-Over. The Shares subject to those vested units will be issued immediately upon such vesting (or otherwise converted into the right to receive the same consideration per share of Common Stock payable to the other stockholders of the Corporation in consummation of the Change in Control transaction).

Appears in 3 contracts

Samples: www.sec.gov, Restricted Stock Unit Issuance Agreement (Immunomedics Inc), Restricted Stock Unit Issuance Agreement (Immunomedics Inc)

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Special Vesting Acceleration. (a) Should a Change in Control or Hostile Take-Over occur during the Participant’s period of service as a Board memberService, then the Restricted Stock Units at the time subject to this Award will vest immediately prior to (i) the closing of such the Change in Control or (ii) the effective date of such Hostile Take-OverControl. The Shares subject to those vested units will be issued immediately upon such vesting (or otherwise converted into the right to receive the same consideration per share of Common Stock payable to the other stockholders of the Corporation in consummation of the that Change in Control transactionControl).

Appears in 2 contracts

Samples: Restricted Stock Unit Issuance Agreement (Sandisk Corp), Restricted Stock Unit Issuance Agreement (Sandisk Corp)

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