Common use of Exercise and Vesting Schedule Clause in Contracts

Exercise and Vesting Schedule. Subject to accelerated vesting as set forth below, the Option may be exercised, in whole or in part, in accordance with the vesting schedule set forth in the Optionee’s Notice of Grant (the “Vesting Schedule”). Shares scheduled to vest on a certain date or upon the occurrence of a certain condition will not vest in the Optioneed in accordance with any provisions of this Agreement if the Optionee ceases to be a Service Provider prior to the date such vesting is scheduled to occur. For purposes of this Stock Option Agreement, a “Service Provider” means an Employee, Non-Employee Director or Consultant who has outstanding Award. In the event of a Change of Control, the Vesting Schedule shall be replaced in its entirety by the following vesting schedule, to be applied both retroactively and prospectively: 1/36th of the Shares subject to the Option shall vest each month after the vesting commencement date, as set forth in the Notice of Grant, on the same day of the month as the vesting commencement date, so that 100% of the Shares subject to the Option shall be vested three (3) years from the vesting commencement date, subject to you remaining a Service Provider as of such vesting dates.