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Equity Award S
Equity Award S contract clause examples
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Equity Award. On the Effective Date, Executive will be granted 160,000 options to purchase shares of the Company’s stock (the “Option”). The Option will vest over a four year vesting schedule as follows: twenty five percent (25%) of the Option will vest on the first (1st) anniversary of Executive’s commencement of employment, and the remainder will vest in thirty-six (36) monthly installments thereafter, subject to Executive’s continued employment through each such vesting date. The Option shall granted pursuant to the Company’s 2017 Incentive Award Plan (the “2017 Plan”). In addition, in the event Executive’s employment is terminated pursuant to Section 7(a)(iv) or (v) following a “Change in Control” (as such term is defined in the 2017 Plan), the vesting of the Option shall accelerate on the date of such termination. The Option shall be subject to the terms and conditions of the 2017 Plan and/or any stock option agreement pursuant to which the Option is granted. The Company will periodically review Executive's equity incentives in the future.

Stock Option. Subject to approval by the Board and subject to the terms of the Company’s 2014 Equity Incentive Plan (the “Plan”), Executive will be granted an option (the “Option”) to purchase 250,000 shares of the Company’s Common Stock (the “Option Shares”). The Option will vest and become exercisable with respect to twenty-five percent of the Option Shares on the first anniversary of the Start Date and will vest with respect to the remaining 75% of the Option Shares in thirty-six (36) equal monthly installments at the end of each calendar month following the first anniversary of the Start Date, subject to Executive’s Continuous Service (as defined in the Plan) through each applicable vesting date. The exercise price of the Option will be equal to the fair market value of the Company’s Common Stock on the date of grant of the Option, as determined by the Company. The Option will be governed by the Plan and other documents issued in connection with the grant.

Existing Stock Option Grant. As of the Effective Date, Executive holds an option (the “Option”) to purchase 250,000 shares of Company common stock that was granted pursuant to the Company’s 2020 Employment Inducement Incentive Award Plan, as amended (the “Plan”) and is unvested as to all of the shares subject there to as of the Effective Date. The Option shall vest and become exercisable as to twenty-five percent (25%) of the total number of shares of Company common stock underlying the Option on March 8, 2022 and thereafter as to 1/48th of the total number of shares of Company common stock underlying the Option on each monthly anniversary thereof, in each case, subject to Executive’s continued employment through the applicable vesting date. The Option is otherwise subject to the terms and conditions of the Plan and an agreement entered into between the Parties to evidence the Option (the “Option Agreement”). In the event of any conflict between the terms of the Plan or the Option Agreement and the terms of this Agreement, the terms of this Agreement shall control.

Stock Options: The Executive will be granted 150,000 stock options at a strike price equal to the closing stock price on the Executive’s first day or work. Such options shall vest in 37 installments, with the first 25% of the options (or 37,500 options) vesting on the first anniversary of the Executive’s first day of work, with the remainder vesting in equal monthly installments (or 3,125 options) on the first day of the month over 36 months. In the event of a Change of Control, the vesting timetable will accelerate and all outstanding options will immediately become fully vested. Options included in this new hire grant shall be granted in accordance with and governed by the terms and conditions of the 2018 Equity Incentive Plan.

Subject to approval by the Board or its authorized designee, Executive will be granted an option to purchase 60,000 shares of Company common stock (the “Option”) under the Company’s 2016 Equity Incentive Plan (the “2016 Plan”) at an exercise price equal to the fair market value of the shares on the date of grant as determined under the 2016 Plan. The Option will vest as follows: l/4th of the total number of shares shall vest on the one-year anniversary of the Start Date, and 1/48th of the total number of shares shall vest each month thereafter (on the same day of the month as the Start Date), in each case, so long as Executive remains a Service Provider (as defined in the 2016 Plan), so that all shares subject to the Option shall have vested after 48 months following the Start Date.

Equity Incentives. Subject to approval by the Board (or the compensation committee thereof), as soon as practicable following the Effective Date, Executive will be granted an option to purchase up to 300,000 shares of the Company’s common stock (the “Option”). Subject to the Executive continuing to serve as Executive Vice President, Chief Commercial Officer of the Company (except as set forth below), vesting of the Option will be as follows: # 300,000 shares (the “Time-Based Shares”) vesting over a four-year period, with 75,000 shares vesting on the first anniversary of the date of grant, and then the remainder of the Time-Based Shares vesting pro rata monthly thereafter over the next three years. The Option will have a ten-year term and will be treated as an incentive stock option to the maximum extent possible under applicable regulations, with the remainder being non-statutory stock options. The portion of the Option that is vested as of the date of termination of the Executive’s service with the Company shall remain exercisable for a period of 90 days following termination. Any portion of the Option that vests as a result of a Post-Termination Vesting Event shall remain exercisable for a period of 90 days following the occurrence of such event. The amount of 24,750 unvested stock options, which were previously granted to the Executive for board service, will be cancelled upon commencement of employment.

Equity. Subject to approval by the Board, the Company will grant Executive an option (the “Option”) under the Company’s 2015 Incentive Award Plan (the “Plan”) to purchase 200,000 shares of the Company’s common stock (subject to adjustment for corporate events as set forth in the Plan) at an exercise price per share equal to the per share fair market value of the Company’s common stock on the date of grant, as determined in accordance with the Plan. The Option will vest as to 25% of the shares subject to the Option on the first anniversary of the Effective Date and as to an additional 6.25% of such shares upon Executive’s completing each three months of continuous service to the Company thereafter. In all respects, the Option will be governed by and subject to the terms of the Plan and a separate stock option agreement to be entered into between Executive and the Company.

Equity. Subject to the approval by the Company’s Board of Directors, and as further consideration for Executive’s employment, the Company shall grant Executive an option to purchase 115,000 shares of the Company’s common stock (“Common Stock”) at a per share exercise price equal to the closing sales price for the Common Stock on the principal trading market for the Common Stock on the grant date of the option (the “Option”). The Option will be subject to the terms and conditions of the Company’s Amended and Restated 2014 Equity Incentive Plan (the “Plan”), and an option agreement between Company and Executive. The Option will be subject to vesting over a four (4) year period according to the following schedule: 25% of the shares will vest as of the one-year anniversary of the vesting commencement date and 1/48th of the shares will vest monthly thereafter, so long as Executive remains in continuous service with the Company through the applicable vesting dates.

Initial Stock Option Grant. Subject to approval of the Board or the Compensation Committee of the Board, on, or as soon as administratively practicable after, the Effective Date, the Company shall grant Executive an option (the “Option”) to purchase 240,000 shares of Company common stock, pursuant to the Company’s 2018 Incentive Award Plan, as amended (the “Plan”), with an exercise price equal to the closing price of a share of Company common stock on the date of grant (or the immediately preceding trading day if the date of grant is not a trading day), as reported on the Nasdaq Global Select Market. The Option shall vest and become exercisable as to twenty-five percent (25%) of the total number of shares of Company common stock underlying the Option on the first anniversary of the Effective Date and thereafter as to 1/48th of the total number of shares of Company common stock underlying the Option on each monthly anniversary of the Effective Date, in each case, subject to Executive’s continued employment through the applicable vesting date. The Option otherwise shall be subject to the terms and conditions of the Plan and an agreement to be entered into with the Company to evidence the Option (an “Option Agreement”). In the event of any conflict between the terms of the Plan or the Option Agreement and the terms of this Agreement, the terms of this Agreement shall control.

Stock Option. Executive shall be granted an option to purchase (the “Option”) three hundred fifty thousand (350,000) shares of Company common stock effective as of Effective Date. The per share exercise price of the Option shall be equal to the per share closing price of the Company’s common stock on the date of grant. The Option shall vest and become exercisable with respect twenty-five percent (25%) of the total number of shares subject to the Option on the first anniversary of the Effective Date and with respect to 1/48th of the total number of shares of Company common stock subject to the Option on each monthly anniversary of the Effective Date thereafter, such that the Option shall be fully vested and exercisable on the fourth (4th) anniversary of the Effective Date, in each case, subject to Executive’s continuous service to the Company through the applicable vesting date. In the event Executive dies, the vesting and exercisability of the Option shall automatically fully accelerate as of immediately prior to the date of such death. In addition, in the event Executive terminates employment with the Company due to permanent disability (within the meaning of [Section 22(e)] and as determined by the Board), then, subject to Executive delivering to the Company a Release (as defined below) that becomes effective and irrevocable within thirty (30) days following such termination, the vesting and acceleration of the Option shall automatically accelerate as of immediately prior to the date of such termination of employment in respect of that number of shares of Company common stock that would have vested had Executive’s employment with the Company continued through the first anniversary of such termination of employment. The Option shall otherwise be subject to the terms of the Plan and an award agreement to be entered into between Executive and the Company.

Option Grant. Subject to the approval of the Board of Directors of the Company (or the applicable committee thereof), the Company will grant Executive a stock option (the “Option”) under the Company’s equity compensation plan to purchase 60,000 shares of the Company’s Common Stock at an exercise price equal to the fair market value of the Common Stock on the date of grant of the Option. The Option will become exercisable (or “vest”) as to twenty-five percent (25%) of the shares on the first anniversary of the Effective Date, provided that Executive’s service with the Company has not terminated prior to such anniversary date. No shares shall vest before such date, and no rights to any vesting shall be earned or accrued prior to such date. The remaining shares shall vest and become exercisable over the following 36 months in equal monthly installments for each month of Executive’s continuous service with the Company. The Option will be subject to documentation including the Company’s customary terms. In addition, any transactions involving our shares by Executive will be subject to the Company’s Insider Trading Policy.

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