Common use of Stock Acceleration Clause in Contracts

Stock Acceleration. If the Change in Control Date occurs during the Term, then, effective upon any termination of the Executive’s employment by the Company without Cause or by the Executive for Good Reason, in each such case within 12 months following the Change in Control Date, then subject to the Executive delivering an executed release in form and substance acceptable to the Company, (a) each outstanding option to purchase shares of Common Stock of the Company held by the Executive shall become immediately exercisable in full and shares of Common Stock of the Company received upon exercise of any options will no longer be subject to a right of repurchase by the Company and (b) each outstanding restricted stock award shall be deemed to be fully vested and will no longer be subject to a right of repurchase by the Company.