LVLT » Topics » 2.4. Accelerated Vesting and Exercisability .

This excerpt taken from the LVLT 8-K filed Dec 20, 2007.

2.4.          Accelerated Vesting and Exercisability.


(a)           Notwithstanding anything herein or in the Plan to the contrary, in the event that the Grantee dies, retires (in accordance with the Company’s Retirement Benefit), or suffers a “Permanent Total Disability” (as defined in the following sentence), each Award and all Outperform Stock Options thereunder shall thereupon become fully vested and fully exercisable. 




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