Change of Control Benefit. Upon the occurrence of a Change of Control, each and every stock option, restricted stock award, restricted stock unit award and other equity-based award and performance award that is outstanding as of the date of the occurrence of a Change of Control shall immediately vest and/or become exercisable and any contractual restrictions on sale or transfer of any such award (other than any such restriction arising by operation of law) shall immediately terminate.
Appears in 13 contracts
Samples: Executive Employment Agreement (Hercules Offshore, Inc.), Executive Employment Agreement (Hercules Offshore, Inc.), Executive Employment Agreement (Hercules Offshore, Inc.)
