Common use of Vesting Acceleration Clause in Contracts

Vesting Acceleration. If the Company terminates the Executive for any reason other than Cause at any time, then the Executive will become vested in an additional number of shares of the Company’s Common Stock subject to all options that have been granted by the Company to the Executive, as if the Executive provided an additional six (6) months of service following the effective date of such employment termination. This vesting acceleration is in addition to and does not supersede any vesting acceleration that may be provided to the Executive in a stock option agreement evidencing an option granted to the Executive, provided that in no event will the Executive become vested in a number of shares subject to an option granted by the Company that is greater than the total number of shares subject to such option. Any vesting acceleration contained in the Executive’s offer letter or employment agreement that has not been approved by the Company’s Board of Directors and evidenced by a stock option agreement is hereby superseded in its entirety by this Agreement.

Appears in 5 contracts

Samples: Severance Agreement (Anda Networks Inc), Severance Agreement (Anda Networks Inc), Severance Agreement (Anda Networks Inc)

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Vesting Acceleration. If the Company terminates the Executive for any reason other than Cause at any time, then the Executive will become vested in an additional number of shares of the Company’s Common Stock subject to all options that have been granted by the Company to the Executive, as if the Executive provided an additional six nine (69) months of service following the effective date of such employment termination. This vesting acceleration is in addition to and does not supersede any vesting acceleration that may be provided to the Executive in a stock option agreement evidencing an option granted to the Executive, provided that in no event will the Executive become vested in a number of shares subject to an option granted by the Company that is greater than the total number of shares subject to such option. Any vesting acceleration contained in the Executive’s offer letter or employment agreement that has not been approved by the Company’s Board of Directors and evidenced by a stock option agreement is hereby superseded in its entirety by this Agreement.

Appears in 1 contract

Samples: Severance Agreement (Anda Networks Inc)

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