Common use of Stock Options and Restricted Stock Clause in Contracts

Stock Options and Restricted Stock. Vesting will accelerate to the date of termination. In other words, after a Change in Control, if EMPLOYEE is either terminated by EMPLOYER, other than for Cause, or if EMPLOYEE terminates employment with Good Reason, EMPLOYEE shall immediately be vested with all stock options and restricted stock awarded by the Company which have not been exercised prior to the termination date. The provisions of the Stock Option Agreement will otherwise be controlling.

Appears in 4 contracts

Samples: Employment Agreement (Novastar Financial Inc), Employment Agreement (Novastar Financial Inc), Employment Agreement (Novastar Financial Inc)

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Stock Options and Restricted Stock. Vesting The vesting period for the year in which the termination occurs will accelerate to the date of termination. In other words, after a Change in Control, if EMPLOYEE is either terminated by EMPLOYER, other than for Cause, or if EMPLOYEE terminates employment with Good Reasonupon termination without cause, EMPLOYEE shall immediately be vested with all stock options and restricted stock awarded by that would have been vested at the Company end of the year in which have not been exercised prior to the termination dateoccurred. All other vesting ceases upon termination. The provisions of the Stock Option Agreement will otherwise be controlling.

Appears in 2 contracts

Samples: Employment Agreement (Novastar Financial Inc), Employment Agreement (Novastar Financial Inc)

Stock Options and Restricted Stock. Vesting The vesting period for the year in which the termination occurs will accelerate to the date of termination. In other words, after a Change in Control, if EMPLOYEE is either terminated by EMPLOYER, other than for Cause, or if EMPLOYEE terminates employment with Good Reasonupon termination without cause, EMPLOYEE shall immediately be vested with all stock options and restricted stock awarded by that would have been vested at the Company end of he year in which have not been exercised prior to the termination dateoccurred. All other vesting ceases upon termination. The provisions of the Stock Option Agreement will otherwise be controlling.

Appears in 2 contracts

Samples: Employment Agreement (Novastar Financial Inc), Employment Agreement (Novastar Financial Inc)

Stock Options and Restricted Stock. Vesting will accelerate to the date of termination. In other words, after a Change in Control, if EMPLOYEE is either terminated by EMPLOYER, other than for Cause, or if EMPLOYEE terminates employment with Good Reason, EMPLOYEE shall immediately be vested with all stock options and restricted stock awarded by the Company EMPLOYER which have not been exercised prior to the termination date. The provisions of the Stock Option Agreement agreements and/or plans governing the Incentives will otherwise be controlling.

Appears in 1 contract

Samples: Employment Agreement (Novastar Financial Inc)

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Stock Options and Restricted Stock. Vesting The vesting period for the year in which the termination occurs will accelerate to the date of termination. In other words, after a Change in Control, if EMPLOYEE is either terminated upon termination by EMPLOYER, other than for EMPLOYER without Cause, or if by EMPLOYEE terminates employment with for Good Reason, EMPLOYEE shall immediately be vested with all stock options and restricted stock awarded by that would have been vested at the Company end of the year in which have not been exercised prior to the termination dateoccurred. All other vesting ceases upon termination. The provisions of the Stock Option Agreement agreements and/or plans governing the Incentives will otherwise be controlling.

Appears in 1 contract

Samples: Employment Agreement (Novastar Financial Inc)

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