Termination in Connection with a Change in Control Event. Subject to Sections 5(f) and 10(p) and Executive’s continued compliance with Section 6, if Executive’s employment is Involuntarily Terminated within twelve (12) months after consummation of a Change in Control transaction or within ninety (90) days prior to the consummation of a Change in Control or if terminated after an agreement has been executed that contemplates the consummation of an Change in Control but before it closes, Executive shall be entitled to receive, in addition to (A) any severance benefits to which Executive may otherwise be entitled under any severance plan or program of the Company and (B) pursuant to Section 5(c) hereof, the vesting and/or exercisability of any outstanding unvested portions of such Stock Awards shall be automatically accelerated so as to be immediately vested and exercisable as of the date of Involuntary Termination and shall remain exercisable through the Severance Period (subject to earlier termination (A) in connection with a recapitalization or similar transaction pursuant to the Company’s equity incentive plans governing such Stock Awards or (B) the contractual term of the Stock Award).
Appears in 4 contracts
Samples: Executive Employment Agreement (Generation Alpha, Inc.), Executive Employment Agreement (Generation Alpha, Inc.), Executive Employment Agreement (Solis Tek, Inc./Nv)
