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Equity Retainer
Equity Retainer contract clause examples

Equity. Subject to the terms of the Company’s then applicable equity incentive plan (“Incentive Plan”) and form of option agreement, and subject to approval by the Board of Directors of the Company at the first regularly scheduled meeting following the Start Date, you will be granted an option to purchase an aggregate of one hundred and fifty thousand (150,000) shares of common stock, at an exercise price per share equal to the Fair Market Value (as defined in the Incentive Plan) of the Common Stock on the date of the grant (such grant date to be the last trading day of the month in which the Board of Directors makes the grant), intended to qualify as an “incentive stock option” to the to the maximum extent allowed under Section 422 of the Internal Revenue Code. The option will vest as to one-fourth (1/4th) of the shares, on the first anniversary of the Start Date, and the remainder will vest at one-forty-eighth (1/48th) per month thereafter. All tax consequences resulting from the grant, vesting, or exercise of the option to or by you, or from the disposition by you of such shares of Common Stock, will be your responsibility. You also will be eligible for annual equity grants at the same time when other executives receive these grants.

Equity. Subject to the terms of the Company's then applicable equity incentive plan ("'Incentive Plan") and form of option agreement, you will be granted an option to purchase an aggregate of 150,000 shares of the Company’s common stock, par value $0.01 (the “Common Stock”) at an exercise price per share equal to the Fair Market Value (as defined in the Incentive Plan) of the Common Stock on the date of the grant, intended to qualify as an “incentive stock option'' to the to the maximum extent allowed under Section 422 of the Internal Revenue Code. The option will vest as to one fourth (1/4th) of the shares, on the first anniversary of the Start Date, and the remainder will vest at one forty-eighth (1/48th) per month thereafter. All tax consequences resulting from the grant, vesting, or exercise of the option to or by you, or from the disposition by you of such shares of Common Stock, will be your responsibility. You also will be eligible for annual equity grants at the same time when other executives receive these grants.

Equity Awards. Subject to approval by the Company’s Board of Directors (the “Board”) which will not be unreasonably withheld and voted upon within thirty (30) days of your Start Date, the Company will grant you an option to purchase 375,266 shares of the Company’s common stock (the “Option”). The Option will be governed by the terms and conditions of the Company’s 2020 Incentive Award Plan (the “Plan”) and your grant agreement, and will include the following vesting schedule: 25% of the total shares subject to the Option will vest on the first anniversary of your Start Date, and 1/48th of the total shares subject to the Option will vest each month thereafter on the same day of the month as the Start Date (or if there is no corresponding day, on the last day of the month), subject to your continuous employment or service through each such date. The Option will have an exercise price equal to the fair market value per share of the Company’s common stock on the date of grant, as determined under the Plan. If there are any inconsistencies between the terms of this Agreement and the Plan or your grant agreements, the terms of this Agreement shall govern.

Equity Awards. Subject to approval by the Company's Board of Directors (the "Board") which will not be unreasonably withheld and voted upon within thirty (30) days of your Start Date, the Company will grant you an option to purchase 106,000 shares of the Company's common stock (the "Option"). The Option will be governed by the terms and conditions of the Company's 2020 Incentive Award Plan (the "Plan") and your grant agreement, and will include the following vesting schedule: 25% of the total shares subject to the Option will vest on the first anniversary of your Start Date, and 1/48th of the total shares subject to the Option will vest each month thereafter on the same day of the month as the Start Date (or if there is no corresponding day, on the last day of the month), subject to your continuous employment or service through each such date. The Option will have an exercise price equal to the fair market value per share of the Company's common stock on the date of grant, as determined under the Plan. If there are any inconsistencies between the terms of this Agreement and the Plan or your grant agreements, the terms of this Agreement shall govern.

Stock Option. Subject to the approval of the Board or the Committee, as applicable, you will be granted an option to purchase 120,000 shares of the Company’s common stock (the “Option”). The Option will be granted under and subject to the terms and conditions of the Company’s 2018 Equity Incentive Plan (the “Plan”) and the applicable stock option agreement thereunder (collectively, the “Option Documents”). The Option will have an exercise price per share equal to the closing price per share of the Company’s common stock on the date the Option is granted. The Option will vest as to 25% of the shares subject to the Option on the one (1) year anniversary of your Start Date, and as to 1/48th of the shares subject to the Option monthly thereafter on the same day of the month as the Start Date (and if there is no corresponding day, the last day of the month) so that the Option will be fully vested and exercisable 4 years from your Start Date, for so long as you remain in service with the Company. No right to any stock will be earned or accrued until such time that vesting occurs, nor does the grant of the Option confer any right to continued vesting or employment.

Equity: Subject to the approval of the Company's Board of Directors, you will be granted 200,000 Incentive Stock Options under the Company's stock option plan to purchase shares of the Company's Common Stock (the "Option Shares") at a price per share equal to the fair market value of shares as determined by the Board of Directors. Your Incentive Stock Option will vest as 25% of the shares subject to such award on the first anniversary of the Vesting Start Date and in equal monthly installments thereafter over a total vesting period of four years, provided you remain an employee of the Company.

“Subject to the terms of the Company’s 2015 Equity Incentive Award Plan, as amended (“The Incentive Plan”) and form of option agreement, and subject to approval by the Board, you will be granted an option to purchase an aggregate of fifty four thousand (54,000) shares of common stock, at an exercise price per share equal to the Fair Market Value (as defined in the Incentive Plan) of the Common Stock on the date of the grant, intended to qualify as an “incentive stock option” to the maximum extent allowed under Section 422 of the Internal Revenue Code. The option will vest in equal monthly installments for 48 months beginning one month after the grant date and continuing for so long as you continue to serve as Interim President and Chief Executive Officer. All tax consequences resulting from the grant, vesting, or exercise of the option to or by you, or from the disposition by you of such shares of Common Stock, will be your responsibility. You also will be eligible for annual equity grants at the same time when other executives receive these grants.”

Stock Option Grant. In connection with the commencement of your employment, the Company will recommend that the Board of Directors, at the next regularly scheduled meeting, grant you an option to purchase 145,000 shares of the Company’s Common Stock (“Option Shares”) with an exercise price equal to the fair market value on the date of the grant. These option shares will vest at the rate of 25% of the shares on the twelve (12) month anniversary of your Vesting Commencement Date (as defined in your Stock Option Agreement, which date will be your Start Date, as defined above) and the remaining Option Shares will vest monthly thereafter at the rate of 1/48 of the total number of the Option Shares per month. Vesting will, of course, depend on your continued employment with the Company. The option will be subject to the terms of the Company’s 2011 Equity Incentive Plan and the Stock Option Agreement between you and the Company.

Equity. Subject to approval by the Board, you will receive stock options to purchase 75,000 shares of the Company’s Common Stock for a price per share equal to the fair market value of one share of the Common Stock on the date of the option grant as determined by the Board and pursuant and subject to the terms of the Company’s Option Agreement (which must be executed to receive the grant). The stock options will vest (become exercisable) as follows: 12.5% of the shares underlying the options shall vest upon the six (6) month anniversary of your employment commencement date and 1/42nd of the remainder of such shares will vest on a monthly basis in forty-two (42) equal monthly installments with the first such installment vesting on the seven (7) month anniversary of your employment commencement date, subject to your continued employment with the Company through each vesting date.

Equity Grants. Subject to and upon the approval of the Board of Directors of the Company after your Start Date, the Company shall grant to you a stock option (the “Option”) under the Company’s 2019 Equity Incentive Plan, as it may be amended from time to time (the “Plan”), to purchase 200,000 shares (subject to any adjustments for any stock splits, stock dividends, reverse stock splits or recapitalizations that are effected at any time during the period commencing after the date of this letter and ending on the grant date of the Option, the “Option Shares”) of the Company’s common stock, $0.001 par value per share (the “Common Stock”), at an exercise price equal to fair market value of the Common Stock, as determined by the Board of Directors of the Company, on the date of the grant of the Option (the “Grant Date”).

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