Common use of Partial Acceleration Clause in Contracts

Partial Acceleration. In accordance with Section 6.1(b)(iv) of the Employment Agreement, the Company will accelerate vesting of the shares subject to your equity awards, as detailed in Section 5 below. ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ July 7, 2021 The Company is offering severance to you in reliance on Treasury Regulation Section 1.409A-1(b)(9) and the short-term deferral exemption in Treasury Regulation Section 1.409A-1(b)(4). Any payments made in reliance on Treasury Regulation Section 1.409A-1(b)(4) will be made not later than March 15, 2022 For purposes of Code Section 409A, your right to receive any installment payments under this Agreement (whether severance payments, reimbursements or otherwise) shall be treated as a right to receive a series of separate payments and, accordingly, each installment payment hereunder shall at all times be considered a separate and distinct payment.