Vesting of Outstanding Equity Awards. For purposes of the restricted stock and restricted stock unit awards set forth in Exhibit B hereto (the "Equity Awards") that were previously granted to Mr. Xxxxx under the Geospace Technologies Corporation 2014 Long Term Incentive Plan (the “Plan”), the Company agrees to fully vest all remaining unvested shares in conjunction with Mr. Xxxxx’s termination of employment.
Vesting of Outstanding Equity Awards. If the full Board of Directors (excluding Executive) determines in its good faith discretion that Executive has satisfactorily performed his duties under this Agreement, including duties set forth in Section 3, through the Transition Date, all unvested options to purchase common stock of the Company held by the Executive at the Transition Date and all unvested restricted stock shares held by the Executive at the Transition Date that would have vested pursuant to their respective terms if Executive had been employed by the Company through the later of (i) the Transition Date or (ii) April 30, 2007 (collectively “Unvested Awards”) shall vest on the Transition Date, unless otherwise specifically prohibited under applicable laws, or by the rules and regulations of any applicable governmental agencies or national securities exchanges. Any vested options to purchase common stock of the Company shall be exercisable by the Executive for the shortest of (i) two (2) years after the Transition Date, (ii) the maximum period of time permitted by the applicable equity incentive plan and option grant agreement pursuant to which such options were awarded or (iii) the maximum period of time allowable that does not trigger an adverse tax consequence to Executive under Section 409A of the Internal Revenue Code of 1986, as amended; provided that no extension of time shall apply to the exercise of any of Executive’s Incentive Stock Options.
Vesting of Outstanding Equity Awards. All unvested restricted stock units covered by the restricted stock unit awards granted to Xxxxxxxx on January 31, 2019 and April 15, 2020, shall become immediately and fully vested effective as of the Termination Date.
Vesting of Outstanding Equity Awards. Upon the effective date of your release described in Section 1 above, all of your INC stock options and restricted stock units outstanding as of the date of this letter will immediately vest. Your INC stock options will remain exercisable and your INC restricted stock units will be settled as soon as administratively practicable following the effective date of your release. We look forward to your acceptance of this letter agreement, which you can indicate by promptly signing, dating and returning a copy of this letter agreement to me. Sincerely, INC Research/inVentiv Health /s/ Xxxxx Xxxxxxx Xxxxx Xxxxxxx Chief Administrative Officer & General Counsel Accepted and Agreed: /s/ Xxxxxxx Xxxxxxxxx November 13, 2017 Xxxxxxx Xxxxxxxxx Date
Vesting of Outstanding Equity Awards. Notwithstanding anything to the contrary in paragraph 1 above or in the Agreement, upon the consummation of a Change in Control, the Executive shall be fully vested in his or her outstanding equity awards under the Company’s Omnibus Incentive Plan (and under any equity incentive plan maintained by the Company) as of the date of the Change in Control (as defined in the Agreement, which is slightly broader than the definition in the Omnibus Incentive Plan).
