Vesting Schedule Clause Example from Business Contracts

Vesting Schedule. This option will become exercisable ("vest") as to [ ]. For purposes of this Agreement, "Vesting Commencement Date" shall mean [ ]. The right of exercise shall be cumulative so that to the extent the option is not exercised in any period to the maximum extent permissible it shall continue to be exercisable, in whole or in part, with respect to all Shares for which it is vested until the earlier of the Final Exercise Date or the termination of this option under Section 3 hereof or the Plan.