Common use of Equity Rights Clause in Contracts

Equity Rights. As of the date of the Employee's termination under this paragraph, Employee shall be entitled to: (1) any vested portion of the Time-Vested Option, which shall remain exercisable for the full term thereof; (2) that portion of the unvested Time-Vested Option which would have vested had the Employee remain employed for one year beyond the date of termination, shall become immediately and fully vested and exercisable and shall remain exercisable for the full term thereof; and (3) the remainder of the unvested portion of the Time-Vested Option shall be forfeited.

Appears in 1 contract

Samples: Employment Agreement (Cumulus Media Inc)

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Equity Rights. As of the date of the Employee's termination under this paragraph, Employee shall be entitled to: (1) any vested portion of the Time-Vested OptionOptions and the Performance Options, which shall remain exercisable for the full term thereof; thereof and (2) that portion of the unvested Time-Vested Option Options which would have vested had the Employee remain remained employed for one (1) year beyond the date of termination, termination shall become immediately and fully vested and exercisable and shall remain exercisable for the full term thereof; and (3) the . The remainder of the unvested portion of the Time-Vested Option Options and Performance Options shall be forfeited.

Appears in 1 contract

Samples: Employment Agreement (Cumulus Media Inc)

Equity Rights. As of the date of the Employee's termination under this paragraph, Employee shall be entitled to: (1) to any vested portion of the Time-Vested OptionOptions, which shall remain exercisable for until the earlier of the expiration of one year after the date of termination and the expiration of the full term thereof; (2) that portion of the unvested Time-Vested Option which would have vested had the Employee remain employed for one year beyond the date of termination, shall become immediately and fully vested and exercisable and shall remain exercisable for the full term thereof; and (3) the . The remainder of the unvested portion of the Time-Vested Option Options shall be forfeited.

Appears in 1 contract

Samples: Employment Agreement (Cumulus Media Inc)

Equity Rights. As of the date of the Employee's ’s termination under this paragraph, Employee shall be entitled to: (1) to any vested portion of the Time-Vested OptionOptions, which shall remain exercisable for until the earlier of the expiration of one (1) year after the date of termination and the expiration of the full term thereof; (2) that portion of the unvested Time-Vested Option which would have vested had the Employee remain employed for one year beyond the date of termination, shall become immediately and fully vested and exercisable and shall remain exercisable for the full term thereof; and (3) the . The remainder of the unvested portion of the Time-Vested Option Options shall be forfeited.

Appears in 1 contract

Samples: Employment Agreement (Cumulus Media Inc)

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Equity Rights. As of the date of the Employee's termination under this paragraph, Employee shall be entitled to: (1) any vested portion of the Time-Vested Option, which shall remain exercisable for the full term thereof; and (2) that portion of the unvested Time-Vested Option which would have vested had the Employee remain employed for one year beyond the date of termination, shall become immediately and fully vested and exercisable and shall remain exercisable for the full term thereof; and (3) the . The remainder of the unvested portion of the Time-Vested Option shall be forfeited.

Appears in 1 contract

Samples: Employment Agreement (Cumulus Media Inc)

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