Common use of Change of Control Option Acceleration Clause in Contracts

Change of Control Option Acceleration. In the event of a Change of Control, the vesting and/or exercisability of Executive’s Stock Awards shall be accelerated automatically immediately prior to the effective date of such Change of Control as to fifty percent (50%) of, in the case of Executive’s Pre-Agreement Stock Awards, the total number of shares subject to Executive’s Pre-Agreement Stock Awards, and in the case of Executive’s Post-Agreement Stock Awards, the unvested shares subject to the Post-Agreement Stock Awards. For the avoidance of doubt, the fifty percent (50%) of shares subject to acceleration of vesting described in this Section 2.1 shall, in the case of Executive’s Pre-Agreement Stock Awards, be calculated based upon the total number of shares subject to the Pre-Agreement Stock Award and shall not be limited to the portion of Executive’s outstanding Pre-Agreement Stock Awards that is unvested as of the date of the accelerated vesting, and in the case of Executive’s Post-Agreement Stock Awards shall be limited to the portion of Executive’s outstanding Post-Agreement Stock Awards that is unvested as of the date of the accelerated vesting.