Retention Pool. Acquirer shall establish a retention pool of restricted stock units (“RSUs”) for Continuing Employees. Within sixty (60) days following the Closing Date, the Continuing Employees will receive grants of RSU awards from such retention pool subject to approval of Acquirer’s board of directors or its authorized committee. Any such grants will vest (subject to continued service of the Continuing Employee receive such grant) over a four-year period at the rate of 25% on the first anniversary of the grant date and 1/12th per quarter thereafter, and shall be subject to all of the terms and conditions of the applicable Acquirer plan and award agreement.
Appears in 2 contracts
Sources: Merger Agreement (Identiv, Inc.), Merger Agreement (Identiv, Inc.)