Common use of Incentive Compensation and Options Clause in Contracts

Incentive Compensation and Options. The Company will pay you a cash lump sum equal to any unpaid Incentive Compensation (that is not otherwise paid to you) that you have been allocated or awarded under any existing bonus or incentive plans for measuring periods completed before you became entitled to Severance Benefits under this Agreement. All unvested options to purchase Company common stock will immediately vest and remain exercisable for the longest period of time permitted under the applicable stock option plan.

Appears in 9 contracts

Samples: Employment Agreement (Versar Inc), Employment Agreement (Versar Inc), Employment Agreement (Versar Inc)

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Incentive Compensation and Options. The Company will pay you a cash lump sum equal to any unpaid Incentive Compensation incentive compensation (that is not otherwise paid to you) that you have been allocated or awarded under any existing bonus or incentive plans for measuring periods completed before you became entitled to Severance Benefits under this Agreement. All unvested options to purchase Company common stock will immediately vest and remain exercisable for the longest period of time permitted under the applicable stock option plan.

Appears in 8 contracts

Samples: Control Severance Agreement (Versar Inc), Control Severance Agreement (Versar Inc), Change of Control Severance Agreement (Versar Inc)

Incentive Compensation and Options. The Company will pay you a cash lump sum equal to any unpaid Incentive Compensation incentive compensation (that is not otherwise paid to you) that you have been allocated or awarded under any existing bonus or incentive plans for measuring periods completed before you became entitled to Severance Benefits under this Agreement. All unvested options to purchase Company common stock will immediately vest and remain exercisable for the longest period of time permitted under the applicable stock option plan. All unvested restricted stock awards awarded to you will immediately vest.

Appears in 6 contracts

Samples: Severance Agreement (Versar Inc), Control Severance Agreement (Versar Inc), Severance Agreement (Versar Inc)

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Incentive Compensation and Options. The Company will pay you a cash lump sum equal to any unpaid Incentive Compensation (that is not otherwise paid to you) that you have been allocated or awarded under any existing bonus or incentive plans for measuring periods completed before you became entitled to Severance Benefits under this Agreement. All unvested options to purchase Company common stock will immediately vest and remain exercisable for the longest period of time permitted under the applicable stock option plan. All unvested restricted stock awards awarded to you will immediately vest.

Appears in 1 contract

Samples: Employment Agreement (Versar Inc)

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