Common use of Acceleration Upon a Change of Control Clause in Contracts

Acceleration Upon a Change of Control. Notwithstanding the foregoing, upon ------------------------------------- a Change of Control, as defined below, that occurs while Optionee provides services to the Company, this Option shall become vested and exercisable as to fifty percent (50%) of the shares subject to this Option on the date the event constituting a Change of Control is consummated. The balance of the shares subject to this Option shall continue to vest on the same schedule (i.e., the same number of shares shall vest each month) as existed prior to the Change of Control. For example, if a Change of Control occurs on a date when 25% of Optionee's shares have vested, then an additional 25% of the shares shall be vested pursuant to this paragraph. The remaining 50% of the shares subject to this Option shall vest at the rate of 1/48/th/ of the shares per month thereafter, such that all shares are fully vested after an additional 24-month period. If a Change of Control occurs on a date where more than 50% of Optionee's shares have already vested, then no additional Shares shall vest pursuant to this paragraph.

Appears in 3 contracts

Samples: Stock Option Agreement (Avanex Corp), Stock Option Agreement (Avanex Corp), Stock Option Agreement (Avanex Corp)

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Acceleration Upon a Change of Control. Notwithstanding the ------------------------------------- foregoing, upon ------------------------------------- a Change of Control, as defined below, that occurs while Optionee provides services to the Company, this Option shall become vested and exercisable as to fifty percent (50%) of the shares subject to this Option option on the date the event constituting a Change of Control is consummated. The balance of the shares subject to this Option option shall continue to vest on the same schedule (i.e., the same number of shares shall vest each month) as existed prior to the Change of Control. For example, if a Change of Control occurs on a date when 25% of Optionee's shares have vested, then an additional 25% of the shares shall be vested pursuant to this paragraph. The remaining 50% of the shares subject to this Option option shall vest at the rate of 1/48/th/ 1/48th of the shares per month thereafter, such that all shares are fully vested after an additional 24-month period. If a Change of Control occurs on a date where more than 50% of Optionee's shares have already vested, then no additional Shares shall vest pursuant to this paragraph.

Appears in 2 contracts

Samples: Non Statutory Stock Option Agreement (Avanex Corp), Stock Option Agreement (Avanex Corp)

Acceleration Upon a Change of Control. Notwithstanding the foregoing, upon ------------------------------------- a Change of Control, as defined below, that occurs while Optionee provides services to the Company, this Option shall become vested and exercisable as to fifty percent (50%) of the shares subject to this Option on the date the event constituting a Change of Control is consummated. The balance of the shares subject to this Option shall continue to vest on the same schedule (i.e., the same number of shares shall vest each month) as existed prior to the Change of Control. For example, if a Change of Control occurs on a date when 25% of Optionee's shares have vested, then an additional 25% of the shares shall be vested pursuant to this paragraph. The remaining 50% of the shares subject to this Option shall vest at the rate of 1/48/th/ 1/48th of the shares per month thereafter, such that all shares are fully vested after an additional 24-month period. If a Change of Control occurs on a date where more than 50% of Optionee's shares have already vested, then no additional Shares shall vest pursuant to this paragraph.

Appears in 2 contracts

Samples: 1998 Stock Plan (Avanex Corp), 1998 Stock Plan (Avanex Corp)

Acceleration Upon a Change of Control. Notwithstanding the foregoing, upon ------------------------------------- a Change of Control, as defined below, that occurs while Optionee provides services to the Company, this Option shall become vested and exercisable as to fifty percent (50%) of the shares subject to this Option on the date the event constituting a Change of Control is consummated. The balance of the shares subject to this Option shall continue to vest on the same schedule (i.e., the same number of shares shall vest each month) as existed prior to the Change of Control. For example, if a Change of Control occurs on a date when 25% of Optionee's shares have vested, then an additional 25% of the shares shall be vested pursuant to this paragraph. The remaining 50% of the shares subject to this Option shall vest at the rate of 1/48/th/ 1/48th of the shares per month thereafter, such that all shares are fully vested after an additional 24-month period. If a Change of Control occurs on a date where more than 50% of Optionee's shares have already vested, then no additional Shares shall vest pursuant to this paragraph.

Appears in 2 contracts

Samples: Stock Option Agreement (Avanex Corp), Stock Option Agreement (Avanex Corp)

Acceleration Upon a Change of Control. Notwithstanding the foregoing, ------------------------------------- upon ------------------------------------- a Change of Control, as defined below, that occurs while Optionee provides services to the Company, this Option shall become vested and exercisable as to fifty percent (50%) of the shares subject to this Option on the date the event constituting a Change of Control is consummated. The balance of the shares subject to this Option shall continue to vest on the same schedule (i.e., the same number of shares shall vest each month) as existed prior to the Change of Control. For example, if a Change of Control occurs on a date when 25% of Optionee's shares have vested, then an additional 25% of the shares shall be vested pursuant to this paragraph. The remaining 50% of the shares subject to this Option shall vest at the rate of 1/48/th/ of the shares per month thereafter, such that all shares are fully vested after an additional 24-month period. If a Change of Control occurs on a date where more than 50% of Optionee's shares have already vested, then no additional Shares shall vest pursuant to this paragraph.

Appears in 1 contract

Samples: Non Statutory Stock Option Agreement (Avanex Corp)

Acceleration Upon a Change of Control. Notwithstanding the foregoing, ------------------------------------- upon ------------------------------------- a Change of Control, as defined below, that occurs while Optionee provides services to the Company, this Option shall become vested and exercisable as to fifty percent (50%) of the shares subject to this Option on the date the event constituting a Change of Control is consummated. The balance of the shares subject to this Option shall continue to vest on the same schedule (i.e., the same number of shares shall vest each month) as existed prior to the Change of Control. For example, if a Change of Control occurs on a date when 25% of Optionee's shares have vested, then an additional 25% of the shares shall be vested pursuant to this paragraph. The remaining 50% of the shares subject to this Option shall vest at the rate of 1/48/th/ 1/48th of the shares per month thereafter, such that all shares are fully vested after an additional 24-month period. If a Change of Control occurs on a date where more than 50% of Optionee's shares have already vested, then no additional Shares shall vest pursuant to this paragraph.

Appears in 1 contract

Samples: Stock Option Agreement (Avanex Corp)

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Acceleration Upon a Change of Control. Notwithstanding the foregoing, ------------------------------------- upon ------------------------------------- a Change of Control, as defined below, that occurs while Optionee provides services to the Company, this Option shall become vested and exercisable as to fifty percent (50%) of the shares subject to this Option option on the date the event constituting a Change of Control is consummated. The balance of the shares subject to this Option option shall continue to vest on the same schedule (i.e., the same number of shares shall vest each month) as existed prior to the Change of Control. For example, if a Change of Control occurs on a date when 25% of Optionee's shares have vested, then an additional 25% of the shares shall be vested pursuant to this paragraph. The remaining 50% of the shares subject to this Option option shall vest at the rate of 1/48/th/ of the shares per month thereafter, such that all shares are fully vested after an additional 24-month period. If a Change of Control occurs on a date where more than 50% of Optionee's shares have already vested, then no additional Shares shall vest pursuant to this paragraph.

Appears in 1 contract

Samples: Stock Option Agreement (Avanex Corp)

Acceleration Upon a Change of Control. Notwithstanding the foregoing, ------------------------------------- upon ------------------------------------- a Change of Control, as defined below, that occurs while Optionee provides services to the Company, this Option shall become vested and exercisable as to fifty percent (50%) of the shares subject to this Option option on the date the event constituting a Change of Control is consummated. The balance of the shares subject to this Option option shall continue to vest on the same schedule (i.e., the same number of shares shall vest each month) as existed prior to the Change of Control. For example, if a Change of Control occurs on a date when 25% of Optionee's shares have vested, then an additional 25% of the shares shall be vested pursuant to this paragraph. The remaining 50% of the shares subject to this Option option shall vest at the rate of 1/48/th/ 1/48th of the shares per month thereafter, such that all shares are fully vested after an additional 24-month period. If a Change of Control occurs on a date where more than 50% of Optionee's shares have already vested, then no additional Shares shall vest pursuant to this paragraph.

Appears in 1 contract

Samples: Stock Option Agreement (Avanex Corp)

Acceleration Upon a Change of Control. Notwithstanding the foregoing, upon ------------------------------------- a Change of Control, as defined below, that occurs while Optionee provides services to the Company, this Option shall become vested and exercisable as to fifty percent (50%) of the shares subject to this Option on the date the event constituting a Change of Control is consummated. The balance of the shares subject to this Option shall continue to vest on the same schedule (i.e., the same number of shares shall vest each month) as existed prior to the Change of Control. For example, if a Change of Control occurs on a date when 25% of Optionee's ’s shares have vested, then an additional 25% of the shares shall be vested pursuant to this paragraph. The remaining 50% of the shares subject to this Option shall vest at the rate of 1/48/th/ 1/48th of the shares per month thereafter, such that all shares are fully vested after an additional 24-month period. If a Change of Control occurs on a date where more than 50% of Optionee's ’s shares have already vested, then no additional Shares shall vest pursuant to this paragraph.

Appears in 1 contract

Samples: Form of Stock Option Agreement (Oclaro, Inc.)

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