Treatment of Equity Awards. If the Executive’s termination occurs after the day that is eighteen (18) months prior to his fifty-fifth birthday, he will be treated as having terminated due to Retirement for purposes of all outstanding stock options and other equity awards that include a definition of the term “Retirement”, including both those outstanding on the date of this Agreement and those hereafter granted, and all agreements governing such awards are deemed amended accordingly. For avoidance of doubt, this subparagraph (IV) shall have no effect on the Executive’s stock options or other equity awards if the Executive’s employment is terminated before the day that is eighteen (18) months prior to his fifty-fifth birthday.
Appears in 4 contracts
Samples: Employment Agreement (Devry Education Group Inc.), Executive Employment Agreement (Devry Inc), Executive Employment Agreement (Devry Inc)
