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 vesting of all Stock Units granted under this Agreement or prior to delivery of all Unit Shares after vesting has occurred, any unvested Stock Units, if any, 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 as a result of a Disability, any unvested Stock Units shall immediately vest. (c) In the event of the termination of the Participant’s Continuous Service by the Company for Cause or by the Participant other than for Good Reason, any unvested Stock Units shall immediately be forfeited. (d) Upon the termination of the Participant’s Continuous Service by the Company without Cause or by the Employee for Good Reason, any unvested Stock Units shall immediately vest. (e) In the event of a Change of 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. (f) 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 vesting of all Stock Units granted under this Agreement or prior to delivery of all Unit Shares after vesting has occurredAgreement, any unvested Stock Units, if any, 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 as a result of a Disability, any unvested Stock Units shall immediately vest. (c) In the event of the termination of the Participant’s Continuous Service by the Company for Cause or by the Participant other than for Good Reason, any unvested Stock Units shall immediately be forfeited. (d) Upon the termination of the Participant’s Continuous Service by the Company without Cause or by the Employee for Good Reason, any unvested Stock Units shall immediately vest. (e) In the event of a Change of 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. (f) The parties may not accelerate the delivery of any Stock Units before the dates set forth above.

Appears in 2 contracts

Samples: 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 vesting of all Stock Units granted under this Agreement or prior to delivery of all Unit Shares after vesting has occurred, any unvested Stock Units, if any, 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 as a result of a Disability, any unvested Stock Units shall immediately vest. (c) In the event of the termination of the Participant’s Continuous Service by the Company for Cause or by the Participant other than for Good Reason, any unvested Stock Units shall immediately be forfeited. (d) Upon the termination of the Participant’s Continuous Service by the Company without Cause or by the Employee Participant for Good Reason, any unvested Stock Units shall immediately vest. (e) In the event of a Change of 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. (f) The parties may not accelerate the delivery of any Stock Units before the dates set forth above.

Appears in 1 contract

Samples: Stock Unit Agreement (Abovenet Inc)

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