Common use of Accelerated Vesting and Exercisability Clause in Contracts

Accelerated Vesting and Exercisability. If a Change in Control occurs while the Executive is employed by the Corporation or after the Executive has terminated employment with the Corporation under circumstances entitling him to Enhanced Severance Benefits, (a) all stock options previously granted to the Executive by the Corporation shall become fully vested and exercisable as of the date of the Change in Control, whether or not otherwise exercisable and vested as of that date, and (b) shares of restricted Corporation stock previously awarded to the Executive shall become fully vested.