Common use of FDA Approval Clause in Contracts

FDA Approval. Notwithstanding the Ordinary Vesting Schedule, if the Company obtains FDA approval for BA-058 during the Employment Term, then then the Company will provide the Executive with accelerated vesting such that, as of the date of the FDA approval, the Option will vest with respect to twenty-five percent (25%) of the unvested shares subject to the Option, with such twenty-five percent (25%) portion taken pro rata from the unvested shares subject to the Option, and the remaining unvested shares subject to the Option, as reduced by this Section 5(d), shall continue to vest in accordance with the Ordinary Vesting Schedule, subject to the Executive’s continued employment with the Company on each applicable vesting date and the terms of the Plan and Stock Option Agreement.