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Equity Retainer
Equity Retainer contract clause examples

Equity. As soon as practicable following the execution of this Agreement, and subject to the approval of the Company’s Board of Directors the Executive shall be granted an incentive stock option (the “Option”) under resTORbio’s Stock Incentive Plan (the “Plan”) to purchase 295,000 of shares of Common Stock. The Option shall vest over four years from the Start Date with 1/4 of the shares underlying such option vesting on the first year anniversary of such Start Date and the remaining 3/4 of such shares vesting in 12 equal quarterly installments following such first year anniversary, provided that the Executive is engaged by the Company on each such vesting date. The Option shall have an exercise price equal to the fair market value of the Common Stock on the date of grant and shall be subject to the provisions set forth in the Plan and the Form of Incentive Stock Option Agreement previously approved by the Board.

Equity. As soon as practicable following the execution of this Agreement, and subject to the approval of the Company’s Board of Directors the Executive shall be granted an incentive stock option (the “Option”) under resTORbio’s Stock Incentive Plan (the “Plan”) to purchase 175,000 of shares of Common Stock. The Option shall vest over four years from the Effective Date, with 1/4 of the shares underlying such option vesting on the first anniversary of the Effective Date and the remaining 3/4 of such shares vesting in 12 equal quarterly installments following such first anniversary, provided that the Executive is engaged by the Company on each such vesting date. The Option shall have an exercise price equal to the fair market value of the Common Stock on the date of grant and shall be subject to the provisions set forth in the Plan and the Form of Incentive Stock Option Agreement previously approved by the Board.

Equity. On or as soon as practicable following the Effective Date, as an inducement to enter into this Agreement, the Company will grant Executive an option (the “Stock Option”) to purchase 200,000 shares of the Company’s common stock with a per-share exercise price equal to the fair market value of a share of the Company’s common stock on the date of grant, as determined by the Board or the compensation committee thereof. 1/4th of the shares underlying the Stock Option will vest and become exercisable on the one-year anniversary of the grant date, and 1/48th of the shares underlying the Stock Option will vest and become exercisable on a monthly basis thereafter, such that 100% of the shares underlying the Stock Option shall be vested and exercisable as of the four-year anniversary of the grant date, in each case so long as Executive remains employed by the Company through each applicable vesting date. The Stock Option will be subject to terms and conditions consistent with those provided in the Company’s 2014 Equity Incentive Plan, and will be governed in all respects by the terms of the stock option agreement to be entered into between Executive and the Company. Further details regarding the Stock Option will be provided to Executive upon approval of such grant by the Board.

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.

Stock Options. As soon as practicable after the date this Agreement is executed by the Parties, the Company shall grant Executive a Stock Option under the 2017 Incentive Award Plan to acquire 200,000 shares of Common Stock. The Stock Option shall have an exercise price equal to the fair market value of the Common Stock as defined under the 2017 Incentive Award Plan (the “Fair Market Value”) and shall vest in its entirety on the third anniversary of the date of grant, provided that Executive remains employed with the Company through such date. All other terms and conditions applicable to the Stock Option grant shall be determined by the Compensation Committee.

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.

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.

Options. Subject to approval by the Board or the compensation committee thereof, the Company will grant Executive an option to purchase Four Hundred Sixty Thousand (460,000) shares of the Company’s common stock, with a per share exercise price equal to the fair market value of a share of the Company’s common stock on the date of grant, as determined by the Board or the compensation committee thereof in accordance with the Company’s customary stock option granting practices (the “Option”). Subject to approval by the Board, the Option will be granted on the first business day of the month following the Start Date. 1/4th of the shares underlying the Option will vest and become exercisable on the one-year anniversary of the Start Date, and 1/48th of the shares underlying the Option will vest and become exercisable on a monthly basis thereafter, such that 100% of the shares underlying the Option shall be vested and exercisable as of the four-year anniversary of the Start Date, in each case so long as Executive remains employed by the Company through each applicable vesting date, except as otherwise set forth in Section 5. If the applicable vesting schedule results in a fractional share, such fractional share shall not vest until the immediately following vesting date. The Option will be subject to the terms and conditions consistent with those provided in the Company’s 2020 Equity Incentive Plan and will be governed in all respects by the terms of the applicable stock option agreement to be entered into between Executive and the Company, except as specifically provided herein. Further details regarding the Option will be provided to the Executive upon approval of such grant by the Board. Executive may be considered for future grants of equity awards in the discretion of the Board or the compensation committee thereof pursuant to its regular review process.

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 150,000 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.

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.

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