Common use of Termination of Employment Change of Control Clause in Contracts

Termination of Employment Change of Control. (a) In the event of the Participant’s death prior to the termination of his Continuous Service, any unvested Stock Units shall immediately vest and the underlying Unit Shares shall be immediately delivered to the Participant’s beneficiary or beneficiaries. (b) Upon the termination of Participant’s Continuous Service with the Company for any reason other than the Participant’s death, any unvested Stock Units shall immediately be forfeited. (c) In the event of a Change of Control all unvested Stock Units shall vest and the underlying Unit Shares shall be immediately delivered to the Participant. (d) The parties may not accelerate the delivery of any Stock Units before the dates set forth above.

Appears in 10 contracts

Samples: Stock Unit Agreement (Abovenet Inc), Stock Unit Agreement (Abovenet Inc), Stock Unit Agreement (Abovenet Inc)

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Termination of Employment Change of Control. (a) In the event of the Participant’s death prior to the termination of his Continuous Service, any unvested Stock Units shall immediately vest and the underlying Unit Shares of all vested Stock Units shall be immediately delivered to the Participant’s beneficiary or beneficiaries. (b) Upon the termination of Participant’s Continuous Service with the Company for any reason other than the Participant’s deathdeath or in connection with a Change of Control, any unvested Stock Units shall immediately be forfeited. (c) In the event of a Change of Control all Control, any unvested Stock Units shall immediately vest and the underlying Unit Shares of all vested Stock Units shall be immediately delivered to the Participant. (d) The parties may not accelerate the delivery of any Stock Units before the dates set forth above.

Appears in 5 contracts

Samples: Stock Unit Agreement (Abovenet Inc), Stock Unit Agreement (Abovenet Inc), Stock Unit Agreement (Abovenet Inc)

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Termination of Employment Change of Control. (a) In the event of the Participant’s death prior to the termination of his Continuous Service, any unvested Stock Units shall immediately vest and the underlying Unit Shares shall be immediately delivered to the Participant’s beneficiary or beneficiaries. (b) Upon the termination of Participant’s Continuous Service with the Company for any reason other than the Participant’s death, any unvested Stock Units shall immediately be forfeited. (c) In the event of a Change of Control all unvested Stock Units shall vest and the underlying Unit Shares shall be immediately delivered to the Participant. (d) The parties may not accelerate the delivery of any Stock Units Unit Shares before the dates set forth above.

Appears in 1 contract

Samples: Stock Unit Agreement (Abovenet Inc)

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