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Common use of Vesting Acceleration Clause in Contracts

Vesting Acceleration. Effective on such termination, the Executive shall receive accelerated vesting equivalent to six (6) months of service beyond the date of Executive’s termination with respect to the shares subject to any grant of restricted stock or stock options (each, an “Equity Grant”) granted to the Executive, regardless of whether granted prior to, coincident with, or after, the Effective Date; provided, however, that in the event such termination occurs within one (1) year following a Change of Control, then one hundred percent (100%) of the remaining shares subject to each such Equity Grant shall become vested in full and the period during which the Executive is permitted to exercise (if applicable) any such Equity Grant shall be extended until the earlier of (i) ten (10) years from the date of grant, or (ii) the expiration date of such Equity Grant (as of the date of grant).

Appears in 7 contracts

Samples: Employment Agreement (Monolithic Power Systems Inc), Employment Agreement (Monolithic Power Systems Inc), Employment Agreement (Monolithic Power Systems Inc)

Vesting Acceleration. Effective on such termination, the Executive shall receive accelerated vesting equivalent to six (6) months of service beyond the date of Executive’s termination with respect to the shares subject to any grant of restricted stock or stock options (each, an “Equity Grant”) granted to the Executive, regardless of whether granted prior to, coincident with, or after, the Effective Date; provided, however, that in the event such termination occurs within one (1) year following a Change of Control, then one hundred percent (100%) of the remaining shares subject to each such Equity Grant shall become vested in full and the period during which the Executive is permitted to exercise (if applicable) any such Equity Grant shall be extended until for the earlier of (i) ten (10) years from the date of grant, or (ii) the expiration date full term of such Equity Grant (as of the date of grant).

Appears in 5 contracts

Samples: Employment Agreement (Monolithic Power Systems Inc), Employment Agreement (Monolithic Power Systems Inc), Employment Agreement (Monolithic Power Systems Inc)

Vesting Acceleration. Effective on such termination, the Executive CEO shall receive accelerated vesting equivalent to six twelve (612) months of service beyond the date of ExecutiveCEO’s termination with respect to the shares subject to any grant of restricted stock or stock options (each, an “Equity Grant”) granted to the ExecutiveCEO, regardless of whether granted prior to, coincident with, or after, the Effective Date; provided, however, that in the event such termination occurs within one (1) year following a Change of Control, then one hundred percent (100%) of the remaining shares subject to each such Equity Grant shall become vested in full and the period during which the Executive CEO is permitted to exercise (if applicable) any such Equity Grant shall be extended until the earlier of (i) ten (10) years from the date of grant, or (ii) the expiration date of such Equity Grant (as of the date of grant).

Appears in 1 contract

Samples: Employment Agreement (Monolithic Power Systems Inc)