Vesting Clause Example from Business Contracts

Vesting. This Option may be exercised for the total number of shares Stock subject to this Option in accordance with the Vesting Schedule as follows: 33.3% on the first anniversary of the Grant Date, 33.3% on the second anniversary of the Grant Date and 33.4% on the third anniversary of the Grant Date provided that the Optionee is continuously providing Services to the Company or an Affiliate through the applicable vesting date. The Stock may be purchased at any time after they become vested, in whole or... in part, during the Option Period; provided, however, the Option may only be exercisable to acquire whole Stock. The right of exercise provided herein shall be cumulative so that if the Option is not exercised to the maximum extent permissible after vesting, the vested portion of the Option shall be exercisable, in whole or in part, at any time during the Option Period. View More