Common use of Options and Restricted Shares Clause in Contracts

Options and Restricted Shares. All outstanding Options will become immediately vested and exercisable (to the extent not yet vested and exercisable as of the Date of Termination). To the extent not otherwise provided under the written agreement evidencing the grant of any restricted Shares to the Executive, all outstanding Shares that have been granted to the Executive subject to restrictions that, as of the Date of Termination, have not yet lapsed will lapse automatically upon the Date of Termination, and the Executive will own those Shares free and clear of all such restrictions. Notwithstanding the foregoing, options and restricted Shares remain subject to any forfeiture or clawback claims under the applicable option plan or award agreement.

Appears in 17 contracts

Samples: Change in Control Severance Agreement (Zimmer Biomet Holdings, Inc.), Change in Control Severance Agreement (Zimmer Biomet Holdings, Inc.), Change in Control Severance Agreement (Zimmer Biomet Holdings, Inc.)

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Options and Restricted Shares. All outstanding Options will become immediately vested and exercisable (to the extent not yet vested and exercisable as of the Date of Termination). To the extent not otherwise provided under the written agreement evidencing the grant of any restricted Shares to the Executive, all outstanding Shares that have been granted to the Executive subject to restrictions that, as of the Date of Termination, have not yet lapsed will lapse automatically upon the Date of Termination, and the Executive will own those Shares free and clear of all such restrictions. Notwithstanding the foregoing, options and restricted Shares remain subject to any forfeiture or clawback claims under the applicable option plan or award agreement.

Appears in 8 contracts

Samples: Change in Control Severance Agreement (Zimmer Holdings Inc), Change in Control Severance Agreement (Zimmer Holdings Inc), Change in Control Severance Agreement (Zimmer Holdings Inc)

Options and Restricted Shares. All outstanding Options will become immediately vested and exercisable (to the extent not yet vested and exercisable as of the Date of Termination). To the extent not otherwise provided under the written agreement evidencing the grant of any restricted Shares to the Executive, all outstanding Shares that have been granted to the Executive subject to restrictions that, as of the Date of Termination, have not yet lapsed will lapse automatically upon the Date of Termination, and the Executive will own those Shares free and clear of all such restrictions. Notwithstanding the foregoing, options Options and restricted Shares remain subject to any forfeiture or clawback claims under the applicable option plan or award agreement.

Appears in 5 contracts

Samples: Control Severance Agreement (Zimmer Biomet Holdings, Inc.), Zimmer Biomet Holdings, Inc., www.sec.gov

Options and Restricted Shares. All outstanding Options will become immediately vested and exercisable (to the extent not yet vested and exercisable as of the Date of Termination). To the extent Change in Control Severance Agreement not otherwise provided under the written agreement evidencing the grant of any restricted Shares to the Executive, all outstanding Shares that have been granted to the Executive subject to restrictions that, as of the Date of Termination, have not yet lapsed will lapse automatically upon the Date of Termination, and the Executive will own those Shares free and clear of all such restrictions. Notwithstanding the foregoing, options Options and restricted Shares remain subject to any forfeiture or clawback claims under the applicable option plan or award agreement.

Appears in 1 contract

Samples: Severance Agreement (Zimmer Biomet Holdings, Inc.)

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Options and Restricted Shares. All outstanding Options will become immediately vested and exercisable (to the extent not yet vested and exercisable as of the Date of Termination). To the extent not otherwise provided under the written agreement evidencing the grant of any restricted Shares to the Executive, all outstanding Shares that have been granted to the Executive subject to restrictions that, as of the Date of Termination, have not yet lapsed will lapse automatically upon the Date of Termination, and the Executive will own those Shares free and clear of all such restrictions. Notwithstanding the foregoing, options and restricted Shares remain subject to any forfeiture or clawback claims under the applicable option plan or award agreement.. 6 US.115484722.02

Appears in 1 contract

Samples: Change in Control Severance Agreement (Zimmer Biomet Holdings, Inc.)

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