Common use of Long-Term Incentive Award Clause in Contracts

Long-Term Incentive Award. The Executive shall participate in the 2000 Equity Plan (or any successor plan) that the Board has adopted on such terms and conditions as the Board shall determine. For greater certainty, in the event of a change of control other than that which is defined in the Plan, any unvested options that were granted prior to the change of control, shall continue to vest in accordance with the vesting period in the Plan and the options shall expire at the earlier of the original expiration date and five years following the date of the change of control.

Appears in 3 contracts

Samples: Employment Agreement (SMTC Corp), Employment Agreement (SMTC Corp), Employment Agreement (SMTC Corp)

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Long-Term Incentive Award. The Executive shall be entitled to participate in the 2000 Equity Plan (or any successor plan) that the Board has adopted on such terms and conditions as the Board shall determine. For greater certainty, in the event of a change of control other than that which is defined in the Plan, any unvested options that were granted prior to the change of control, shall continue to vest in accordance with the vesting period in the Plan and the options shall expire at the earlier of the original expiration date and five years following the date of the change of control.

Appears in 1 contract

Samples: Employment Agreement (SMTC Corp)

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Long-Term Incentive Award. The Executive shall continue to be eligible to participate in the 2000 Equity Plan (or any successor plan) that the Board has adopted on such terms and conditions as the Board shall determine. For greater certainty, in the event of a change of control other than that which is defined in the Plan, any unvested options that were granted prior to the change of control, shall continue to vest in accordance with the vesting period in the Plan and the options shall expire at the earlier of the original expiration date and five years following the date of the change of control.

Appears in 1 contract

Samples: Employment Agreement (SMTC Corp)

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