Common use of Vesting, Exercisability and Termination Clause in Contracts

Vesting, Exercisability and Termination. (a) No portion of this Stock Option may be exercised until such portion shall have vested and become exercisable. (b) Except as set forth below, and subject to the determination of the Board in its sole discretion to accelerate the vesting schedule hereunder, this Stock Option shall be vested and exercisable on the respective dates indicated below: (i) This Stock Option shall vest and become exercisable in accordance with the following schedule: (A) 1/36th of the Shares underlying this Stock Option shall vest on a monthly basis beginning on the date one month after the Vesting Commencement Date such that all Shares will be fully vested on the date three (3) years after the Vesting Commencement Date; provided, that the Optionee continues to have a Service Relationship with the Company at such time; and provided, further, that all unvested Shares underlying this Stock Option will vest in full immediately prior to the consummation of a Sale Event so long as the Optionee continues to have a Service Relationship with the Company at such time.