Accelerated Stock Award Vesting and Extended Exercisability of Stock Options. If Employee incurs a Covered Termination, then effective as of the date of Employee’s Covered Termination, (i) the vesting and exercisability of all outstanding options to purchase the Company’s common stock that are held by Employee on such date shall be accelerated in full, and (ii) any reacquisition or repurchase rights held by the Company in respect of common stock issued pursuant to any other stock award granted to Employee by the Company shall lapse. In addition, the post-termination of employment exercise period of any outstanding option held by Employee on the date of [his][her] Covered Termination shall be extended, if necessary, such that the post-termination of employment exercise period shall not terminate prior to the later of (i) the date twelve (12) months after the effective date of the Covered Termination and (ii) the post-termination exercise period provided for in such option; provided, however, that such option shall not be exercisable after the expiration of its maximum term; provided, further, however, that in the event that any extended exercisability of an option pursuant to this Section 4(b) would adversely affect Employee’s option or other stock award (including, without limitation, its status as an incentive stock option under Section 422 of the Code or result in an option that would not otherwise be deemed to be a nonqualified deferred compensation plan or arrangement for the purposes of Section 409A of the Code to be deemed to be such a nonqualified deferred compensation plan or arrangement), such extended exercisability shall be deemed null and void unless Employee consents in writing to such extended exercisability.
Accelerated Stock Award Vesting and Extended Exercisability of Stock Options. (i) In the event Employee has been employed by the Company for a period of at least two (2) years and incurs a Covered Termination, then effective as of the date of Employee’s Covered Termination, (i) the vesting and exercisability of all outstanding options to purchase the Company’s common stock that are held by Employee on such date shall be accelerated such that any shares subject to such outstanding options that would have become vested as of the two (2) year anniversary of the date of Employee’s Covered Termination shall immediately become fully vested, and (ii) any reacquisition or repurchase rights held by the Company in respect of common stock issued pursuant to any other stock award granted to Employee by the Company that would have become vested as of the two (2) year anniversary of the date of Employee’s Covered Termination shall lapse.
