Double-Trigger Vesting definition

Double-Trigger Vesting means a provision in an equity award agreement such that the award will vest early if there occurs both (i) a Change in Control and (ii) a termination of the Executive’s employment without Cause or for Good Reason within a period of 24 months following the Change in Control.
View Source

Examples of Double-Trigger Vesting in a sentence

  • Employee’s participation in all benefits and incidents of employment, including, but not limited to, vesting in Equity Awards (other than pursuant to the Double-Trigger Vesting Acceleration, if applicable), ceased as of the Separation Date.

  • The Parties agree that for purposes of determining the number of shares of the Company’s common stock that Employee is entitled to receive from the Company, pursuant to the vesting of the Equity Awards, Employee will be considered to have vested only up to the Separation Date and pursuant to the Double-Trigger Vesting Acceleration, if applicable.

  • Employee acknowledges and agrees that as of the Separation Date (and prior to the application of the Double-Trigger Vesting Acceleration, if applicable), Employee will have vested in each Equity Award as to the number of shares of the Company’s common stock indicated in Exhibit A and no more.

Related to Double-Trigger Vesting

  • Vesting Event means the earliest to occur of the following events:

  • Normal Vesting Date means the date on which an Award Vests under Rule 6.1 (Timing of Vesting: Normal Vesting Date), in the absence of an Early Vesting Date;

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Initial Vesting Date means the date occurring one (1) year after the Date of Option Grant.

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.