Accelerated Option Vesting Clause Samples
The Accelerated Option Vesting clause provides for the immediate vesting of unvested stock options under certain predefined circumstances, such as a company acquisition or the termination of an employee without cause. In practice, this means that if a triggering event occurs, employees or option holders gain full ownership of their remaining unvested options sooner than originally scheduled. This clause is designed to protect employees' interests by ensuring they are not penalized or lose potential equity benefits due to events beyond their control, thereby offering greater financial security and incentive alignment.
POPULAR SAMPLE Copied 1 times
Accelerated Option Vesting. Notwithstanding Section 2 above, the entire Option granted hereunder will vest and become immediately exercisable upon a Change of Ownership of the Company only if the successor entity does not assume the Option or substitute an equivalent right for the Option, or upon Optionee’s Retirement. “Retirement” means severance from employment with the Company or its Subsidiaries for any reason other than a leave of absence, termination for cause, death or disability, at such time as the sum of Optionee’s age and years of service with the Company or its Subsidiaries equals at least 65 or more, provided that Optionee is then at least 55 years of age. The Company will have the sole right to determine whether Optionee’s severance from employment constitutes a Retirement.
Accelerated Option Vesting. Effective upon a Change of Control and notwithstanding any provision to the contrary in any option agreement under which the Executive may acquire the Company's common stock (the "Option Agreements"), the Executive shall vest as to all then unvested non-performance based stock options under the Option Agreements, the greater of: (i) fifty percent (50%) of the unvested non-performance based stock options; or (ii) an additional one year's vesting under the pre-Change of Control time vesting schedule for non-performance based stock options.
Accelerated Option Vesting. Vesting of your options shall be accelerated such that as of the effective date of your termination of employment you will be deemed vested in the same number of shares as if you had completed an additional 6 months of employment with the Company pursuant to this Agreement.
Accelerated Option Vesting. Option shares shall vest at the earlier of, (i) the vesting schedule as outlined in paragraph (e) above, and (ii) the Company’s achievement of cumulative gross revenue milestones (i.e., the sum of all revenues recognized since commencement of operations), with cumulative revenue milestones and amount of shares vesting as follows: $1,400,000 – $1,800,000 1,000,000 $1,800,001 – $2,200,000 1,000,000 $2,200,001 – $2,600,000 1,000,000 $2,600,001 – $3,000,000 1,000,000 $3,000,001 – $3,400,000 1,000,000 $3,400,001 – $3,800,000 1,000,000 $3,800,001 – $4,200,000 1,000,000 $4,200,001 – $4,600,000 1,000,000 Greater than $4,600,000 1,000,000
Accelerated Option Vesting. Accelerate and immediately vest all of Your unvested options to acquire shares of the Company's common stock (the "Options"). As a result, You will be vested in a total of 93,333 shares as of the Separation Date. Your right to exercise the Options shall terminate sixty (60) days following the Separation Date. Except as provided in this provision, the Options will continue to be governed by the Amended and Restated 2002 Stock Incentive Plan of Lodgian, Inc.; and
Accelerated Option Vesting. Notwithstanding Section 2 above, the entire Option granted hereunder will vest and become immediately exercisable upon either a (i) a Change in Control or an Involuntary Termination in connection with the Change in Control (including if such Involuntary Termination occurs during the three month period prior to a Change in Control) (as such terms are defined in the Employment Agreement) or (ii) a Change of Ownership of the Company only if the successor entity does not assume the Option or substitute an equivalent right for the Option, or (iii) upon
Accelerated Option Vesting. Notwithstanding Section 2 above, the entire Option granted hereunder will vest and become immediately exercisable upon (i) a Change in Control or an Involuntary Termination in connection with the Change in Control (including if such Involuntary Termination occurs within the period beginning three months before and ending 15 months after a Change in Control) (as such terms are defined in the February 28, 2007 employment agreement by and between the Company and Optionee (the “Employment Agreement”)), (ii) a Change of Ownership of the Company only if the successor entity does not assume the Option or substitute an equivalent right for the Option, or (iii) upon Optionee’s Retirement. “Retirement” means severance from employment with the Company or its Subsidiaries for any reason other than a leave of absence, termination for cause, death or disability, at such time as the sum of Optionee’s age and years of service with the Company or its Subsidiaries equals at least 65 or more, provided that Optionee is then at least 55 years of age. The Company will have the sole right to determine whether Optionee’s severance from employment constitutes a Retirement. In addition, the vesting of this Option will accelerate on Optionee’s termination as if Optionee had continued employment for an additional (x) 24 months after the termination date if there is an Involuntary Termination and Optionee is entitled to receive the payments in Section 6(a) of his Employment Agreement and (y) 12 months after the termination date if such termination is due to Optionee’s death or Disability (as defined in the Employment Agreement).
Accelerated Option Vesting