Vesting Clause Example from Business Contracts

Vesting. This Option may be exercised for the total number of shares of Stock subject to this Option in accordance with the "Vesting Dates" as follows: 20% on the first anniversary of the Grant Date, and 20% on each of the second, third, fourth and fifth anniversaries of the Grant Date, provided that the Optionee is continuously providing Services to the Company or a Company Affiliate through the applicable Vesting Date. The shares of 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 shares of 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