Common use of Full Vesting of All Stock Options and Restricted Shares Clause in Contracts

Full Vesting of All Stock Options and Restricted Shares. Notwithstanding any provision to the contrary in the Company's equity incentive plans (the "Equity Plans") or any award agreement under the Equity Plans, (i) any outstanding, unexercisable stock options or unvested restricted shares shall become fully exercisable and vested as of the Termination Date and (ii) all stock options, whether or not such stock options first become exercisable pursuant to this Agreement, shall remain exercisable until the earlier of (A) the tenth anniversary of the original date of grant or (B) the latest date upon which the option could have expired by its original terms under any circumstances; provided, however, that this sentence shall not restrict the Company's ability to adjust or settle outstanding stock options pursuant to the terms of the Equity Plans, so long as Executive is treated in any such adjustment or settlement no less favorably than any other employee of the Company.

Appears in 3 contracts

Samples: Termination Protection Agreement (Thomas & Betts Corp), Termination Protection Agreement (Thomas & Betts Corp), Termination Protection Agreement (Thomas & Betts Corp)

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Full Vesting of All Stock Options and Restricted Shares. Notwithstanding any provision to the contrary in the Company's equity incentive plans (the "Equity Plans") or any award agreement under the Equity Plans, (i) any outstanding, unexercisable stock options or unvested restricted shares shall become fully exercisable and vested as of the Termination Date Triggering Event and (ii) all stock options, whether or not such stock options first become exercisable pursuant to this Agreement, shall remain exercisable until the earlier of (A) the tenth anniversary of the original date of grant grant, or (B) the latest date upon which the option could have expired by its original terms under any circumstances; provided, however, that this sentence shall not restrict the Company's ability to adjust or settle outstanding stock options pursuant to the terms of the Equity Plans, so long as Executive is treated in any such adjustment or settlement no less favorably than any other employee of the Company.

Appears in 2 contracts

Samples: Termination Protection Agreement (Thomas & Betts Corp), Termination Protection Agreement (Thomas & Betts Corp)

Full Vesting of All Stock Options and Restricted Shares. Notwithstanding any provision to the contrary in the Company's equity incentive plans (the "Equity Plans") or any award agreement under the Equity Plans, (i) any outstanding, unexercisable stock options or unvested restricted shares shall become fully exercisable and vested as of the Termination Date and (ii) all stock options, whether or not such stock options first become exercisable pursuant to this Agreement, shall remain exercisable until the earlier of (A) the tenth third anniversary of the original date of grant Termination Date or (B) the latest date upon which the option could have expired by its original terms under any circumstances; provided, however, that this sentence shall not restrict the Company's ability to adjust or settle outstanding stock options pursuant to the terms of the Equity Plans, so long as Executive is treated in any such adjustment or settlement no less favorably than any other employee of the Company.

Appears in 1 contract

Samples: Termination Protection Agreement (Thomas & Betts Corp)

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Full Vesting of All Stock Options and Restricted Shares. Notwithstanding any provision to the contrary in the Company's ’s equity incentive plans (the "Equity Plans") or any award agreement under the Equity Plans, (i) any outstanding, unexercisable stock options or unvested restricted shares shall become fully exercisable and vested as of the Termination Date and (ii) all stock options, whether or not such stock options first become exercisable pursuant to this Agreement, shall remain exercisable until the earlier of (A) the tenth anniversary of the original date of grant or (B) the latest date upon which the option could have expired by its original terms under any circumstances; provided, however, that this sentence shall not restrict the Company's ’s ability to adjust or settle outstanding stock options pursuant to the terms of the Equity Plans, so long as Executive is treated in any such adjustment or settlement no less favorably than any other employee of the Company.

Appears in 1 contract

Samples: Termination Protection Agreement (Thomas & Betts Corp)

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