Common use of Equity Compensation Awards Clause in Contracts

Equity Compensation Awards. On the Effective Date, all awards of stock options and stock appreciation rights previously granted to the Executive shall become fully vested and immediately exercisable, all restrictions on shares of restricted stock previously awarded to the Executive shall immediately lapse and all performance based equity compensation awards previously made to the Executive shall be deemed fully earned as if all performance goals had been fully attained and the performance period ended on the Effective Date. In the event of any conflict between the terms of this Agreement and the terms of any award agreement, the terms of this Agreement shall govern.