iHeartMedia 2002 Annual Report Download - page 170
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Any additional options granted thereafter shall be based upon performance
of the Executive, which will be assessed in the sole discretion of the Chief
Operating Officer of the Company and/or the Compensation Committee of the Board
of Directors.
Notwithstanding the foregoing, all such stock options will immediately
vest upon the occurrence of a Change in Control.
All options will be vested fully immediately upon the death of the
Executive. Unless otherwise expressly provided in Paragraph 8(d) of this
Agreement, the Executive shall not be entitled to exercise such stock options
after the first to occur of either (i) the expiration of the exercise period of
the applicable stock options, or (ii) the expiration of three years following
any termination of the Executive’s employment. Except as otherwise set forth
herein, all options will be exercisable for the period prescribed by the
applicable stock option plan under which they were granted.
The Executive will be permitted to use shares of the Company’s common
stock to exercise any options described in this Exhibit B and to pay any
withholding obligation upon such exercise.