Vesting Clause Example with 7 Variations from Business Contracts
This page contains Vesting clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Vesting. Each Initial Award shall vest and become exercisable in thirty-six (36) substantially equal monthly installments following the date of grant, such that the Initial Award shall be fully vested on the third anniversary of the date of grant, subject to the Non-Employee Director continuing in service as a Non-Employee Director through each such vesting date. Each Subsequent Award shall vest and become exercisable on the earlier of the first anniversary of the date of grant or the day immediately pri...or to the date of the next annual meeting of the Company's stockholders occurring after the date of grant, in either case subject to the Non-Employee Director continuing in service on the Board as a Non-Employee Director through each such vesting date. Unless the Board otherwise determines, any portion of an Initial Award or Subsequent Award which is unvested or unexercisable at the time of a Non-Employee Director's termination of service on the Board as a Non-Employee Director shall be immediately forfeited upon such termination of service and shall not thereafter become vested and exercisable. All of a Non-Employee Director's Initial Awards and Subsequent Awards shall vest in full immediately prior to the occurrence of a Change in Control (as defined in the Equity Plan), to the extent outstanding at such time.View More
Variations of a "Vesting" Clause from Business Contracts
Vesting. a. Initial Options. Each Initial Award Option shall be vested and exercisable as to 25% of the number of shares subject to the Initial Option on the date of grant and shall vest and become exercisable as to the remaining shares subject to the Initial Option in thirty-six (36) substantially equal monthly installments following on each of the first three anniversaries of the date of grant, such that the Initial Award Option shall be fully vested on the third anniversary of the date of grant, grant.... b. Subsequent Options. Each Subsequent Option shall vest and become exercisable in four installments, each equal to 25% of the number of shares subject to the Subsequent Option (each, a "Tranche"), upon the applicable Non-Employee Director continuing in completing each successive three month period of continuous service as a Non-Employee Director through each such vesting date. Each Subsequent Award shall following the date of grant, provided that the fourth and final Tranche of the Elective Option will vest and become exercisable on the earlier of the first anniversary of the date of grant or the day immediately prior to the date of the next annual meeting of the Company's stockholders occurring after the date of grant, in either case subject to the Non-Employee Director continuing in service on the Board as a Non-Employee Director through each such vesting date. grant. c. Forfeiture of Options. Unless the Board otherwise determines, any portion of an Initial Award Option or Subsequent Award Option which is unvested or unexercisable at the time of a Non-Employee Director's termination of service on Continuous Service (as defined in the Board as a Non-Employee Director Equity Plan) shall be immediately forfeited upon such termination of service Continuous Service and shall not thereafter become vested and exercisable. All of a A Non-Employee Director's 3 outstanding Initial Awards Options and Subsequent Awards shall vest in full immediately prior Options may be subject to the occurrence additional acceleration of vesting and exercisability upon or after a Change in Control (as defined in the Equity Plan), to Plan) as may be provided in any written agreement between the extent outstanding at such time. Company and the Non-Employee Director. View More
Vesting. Each Initial Award shall vest and become exercisable as to 33% of the shares subject to such Initial Award on the first anniversary of the date of grant and in thirty-six (36) 24 substantially equal monthly installments following the date of grant, thereafter, such that the Initial Award shall be fully vested on the third anniversary of the date of grant, subject to the Non-Employee Non-Executive Director continuing in service as a Non-Employee Non-Executive Director (or an Observer) through eac...h such vesting date. Each Subsequent Award shall vest and become exercisable in 12 substantially equal monthly installments following the date of grant, such that the Subsequent Award shall be fully vested on the earlier of the first anniversary of the date of grant or the day immediately prior to the date of the next annual meeting of the Company's stockholders occurring after the date of grant, in either case subject to the Non-Employee Non-Executive Director continuing in service on the Board as a Non-Employee Non-Executive Director (or an Observer) through each such vesting date. Unless the Board otherwise determines, decides otherwise, any portion of an Initial Award or Subsequent Award which is unvested or unexercisable at the time of a Non-Employee Non-Executive Director's termination of service on the Board as a Non-Employee Director shall be immediately forfeited upon such termination of service and shall not thereafter become vested and exercisable. All of a Non-Employee Director's Initial Awards and Subsequent Awards shall vest in full immediately prior to the occurrence of a Change in Control (as defined in the Equity Plan), to the extent outstanding at such time. View More
Vesting. a. Initial Options. Each Initial Award Option shall vest and become exercisable in thirty-six (36) substantially equal monthly installments following the date of grant, such that the Initial Award Option shall be fully vested on the third anniversary of the date of grant, subject to the Non-Employee Director continuing in service as a Non-Employee Director through each such vesting date. b. Subsequent Options. Each Subsequent Award Option shall vest and become exercisable on the earlier of the f...irst anniversary of the date of grant or the day immediately prior to the date of the next annual meeting of the Company's stockholders occurring after the date of grant, in either case case, subject to the Non-Employee Director continuing in service as a Non-Employee Director through such vesting date. c. Elective Options. Each Elective Option shall vest and become exercisable as to 25% of the Shares subject to the Elective Option (each, a "Tranche") upon the Non-Employee Director completing three months of continuous service as a Non-Employee Director, or in the applicable position, following the Issue Date, provided that the fourth and final Tranche of each Elective Option will vest and become exercisable on the earlier of the first anniversary of the Issue Date or the day immediately prior to the date of the next annual meeting of the Company's stockholders occurring after the Issue Date. By way of example, if, during a given Service Year, a Non-Employee Director ceases to serve on a committee of the Board for which such Non-Employee Director was granted a Committee Member Retainer Elective Option but continues to serve on the Board as a Non-Employee Director, such Non-Employee Director's Base Retainer Elective Option will continue to vest and become exercisable while such Non-Employee Director through each continues to serve as a Non-Employee Director and any portion of such vesting date. Non-Employee Director's Committee Member Retainer Elective Option that has not become vested and exercisable on or prior to the date such Non-Employee Director ceases to serve on such committee shall be immediately forfeited on the date such Non-Employee Director ceases to serve on such committee. d. Forfeiture of Options. Unless the Board otherwise determines, any portion of an Initial Award Option, Subsequent Option or Subsequent Award Elective Option which is unvested or unexercisable at the time of a Non-Employee Director's termination of service on the Board as a Non-Employee Director Director, or in the applicable position, shall be immediately forfeited upon such termination of service and shall not thereafter become vested and exercisable. All of a Non-Employee Director's Initial Awards Options and Subsequent Awards Options shall vest in full immediately prior to the occurrence of a Change in Control (as defined in the Equity Plan), to the extent outstanding at such time. View More
Vesting. a. Initial Options. Each Initial Award Option shall vest and become exercisable in thirty-six (36) substantially equal monthly installments following the date of grant, such that the Initial Award Option shall be fully vested on the third anniversary of the date of grant, subject to the Non-Employee Director continuing in service as a Non-Employee Director through each such vesting date. b. Subsequent Options. Each Subsequent Award Option shall vest and become exercisable on the earlier of the f...irst anniversary of the date of grant or the day immediately prior to the date of the next annual meeting of the Company's stockholders occurring after the date of grant, in either case case, subject to the Non-Employee Director continuing in service on the Board as a Non-Employee Director through each such vesting date. c. Forfeiture of Options. Unless the Board otherwise determines, any portion of an Initial Award Option or Subsequent Award Option which is unvested or unexercisable at the time of a Non-Employee Director's termination of service on the Board as a Non-Employee Director shall be immediately forfeited upon such termination of service and shall not thereafter become vested and exercisable. All of a Non-Employee Director's Initial Awards Options and Subsequent Awards Options shall vest in full immediately prior to the occurrence of a Change in Control Merger/Sale (as defined in the Equity Plan), to the extent outstanding at such time. View More
Vesting. a. Initial Options. Each Initial Award Option shall vest and become exercisable in thirty-six (36) substantially equal monthly installments following the date of grant, such that the Initial Award Option shall be fully vested on the third anniversary of the date of grant, subject to the Non-Employee Director continuing in service as a Non-Employee Director through each such vesting date. b. Subsequent Options. Each Subsequent Award Option shall vest and become exercisable on the earlier of the f...irst anniversary of the date of grant or the day immediately prior to the date of the next annual meeting of the Company's stockholders occurring after the date of grant, in either case case, subject to the Non-Employee Director continuing in service on the Board as a Non-Employee Director through each such vesting date. c. Forfeiture of Options. Unless the Board otherwise determines, any portion of an Initial Award Option or Subsequent Award Option which is unvested or unexercisable at the time of a Non-Employee Director's termination of service on the Board as a Non-Employee Director shall be immediately forfeited upon such termination of service and shall not thereafter become vested and exercisable. All of a Non-Employee Director's Initial Awards Options and Subsequent Awards Options shall vest in full immediately prior to the occurrence of a Change in Control (as defined in the Equity Plan), to the extent outstanding at such time. View More
Vesting. Each Initial Award shall vest and become exercisable in thirty-six (36) substantially equal monthly installments following the date of grant, such that the Initial Award shall be fully vested on the third anniversary of the date of grant, subject to the Non-Employee Director continuing in service as a Non-Employee Director through on each such vesting date. Each Subsequent Award shall vest and become exercisable in twelve substantially equal monthly installments following the date of grant, such... that the Subsequent Award shall be fully vested on the earlier of the first anniversary of the date of grant or (provided that any portion of a Subsequent Award scheduled to vest after the day immediately prior to the date of the next first annual meeting of the Company's stockholders occurring after following the date of grant, in either case grant of such Subsequent Award shall vest on the date of such annual meeting), subject to the Non-Employee Director continuing in service on the Board as a Non-Employee Director through on each such vesting date. Unless the Board otherwise determines, any portion of an Initial Award or Subsequent Award which is unvested or unexercisable at the time of a Non-Employee Non- Employee Director's termination of service on the Board as a Non-Employee Director shall be immediately forfeited upon such termination of service and shall not thereafter become vested and exercisable. All of a Non-Employee Director's outstanding Initial Awards and Subsequent Awards shall vest in full immediately prior to the occurrence of a Change in Control (as defined in the Equity Plan), to the extent outstanding at such time. View More
Vesting. Each Initial Award shall vest and become exercisable as to one-third of the shares subject to the Initial Award on the first anniversary of the date of grant and as to the remainder in thirty-six (36) twenty-four (24) substantially equal monthly installments following the date of grant, thereafter, such that the Initial Award shall be fully vested on the third anniversary of the date of grant, subject to the Non-Employee Director continuing in service as a Non-Employee Director through each such... vesting date. Each Subsequent Award shall vest and become exercisable on the earlier of the first anniversary of the date of grant or the day immediately prior to the date of the next annual meeting of the Company's stockholders occurring after in twelve (12) substantially equal monthly installments following the date of grant, in either case subject to the Non-Employee Director continuing in service on the Board as a Non-Employee Director through each such vesting date. Unless the Board otherwise determines, any portion of an Initial Award or Subsequent Award which is unvested or unexercisable at the time of a Non-Employee Director's termination of service on the Board as a Non-Employee Director shall be immediately forfeited upon such termination of service and shall not thereafter become vested and exercisable. All of a Non-Employee Director's Initial Awards and Subsequent Awards shall vest in full immediately prior to the occurrence of a Change in Control (as defined in the Equity Plan), to the extent outstanding at such time. View More
