Vesting Schedule Clause Example from Business Contracts

Vesting Schedule. This option will become exercisable ("vest") as to 1/4th of the original number of Shares on the first anniversary of [the Grant Date] and as to an additional 1/48th of the original number of Shares at the end of each successive one month period following the first anniversary of [the Grant Date] until the fourth anniversary of [the Grant Date]. 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 con...tinue 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. View More