Time Vesting Schedule. If this box is checked, the Option will vest according to the Vesting Schedule below: The Option shall initially be unvested and shall vest (i) twenty-five percent (25%) on the first anniversary of the Vesting Commencement Date and (ii) the balance of the Option in twelve (12) successive equal quarterly installments over the thirty-six (36) month period measured from the first anniversary of the Vesting Commencement Date. In no event shall any additional portion of the Option vest after Participant’s Termination of Service.
Appears in 2 contracts
Sources: Stock Option Agreement (Traffic.com, Inc.), Executive Stock Option Agreement (Traffic.com, Inc.)