Common use of Vesting upon an Acquisition where Stock Option is Assumed Clause in Contracts

Vesting upon an Acquisition where Stock Option is Assumed. If (i) in connection with an Acquisition, the Stock Option, to the extent outstanding immediately prior to such Acquisition, is assumed or a substantially equivalent award is substituted for the Stock Option by the acquiror or survivor in such Acquisition (or an affiliate of the acquiror or survivor) pursuant to the provisions of Section 7 of the Plan, and (ii) at any time prior to the first anniversary of the Acquisition, the Optionee’s Employment with the Company is terminated by the Company (or its successor) without Cause or by the Optionee for Good Reason, the Stock Option (or the award substituted for the Stock Option), to the extent then outstanding but not then vested, will automatically vest in full at the time of such termination of Employment.

Vesting upon an Acquisition where Stock Option is Assumed. If (i) in connection with an Acquisition, the Stock Option, to the extent outstanding immediately prior to such Acquisition, is assumed or a substantially equivalent award is substituted for the Stock Option by the acquiror or survivor in such Acquisition (or an affiliate of the acquiror or survivor) pursuant to the provisions of Section 7 of the Plan, and (ii) at any time prior to the first anniversary of the Acquisition, the Optionee’s Employment with the Company is terminated by the Company (or its successor) without Cause or by the Optionee for Good ReasonCause, the Stock Option (or the award substituted for the Stock Option), to the extent then outstanding but not then vested, will automatically vest in full at the time of such termination of Employment.