Vesting if Business Relationship Continues Clause Samples

Vesting if Business Relationship Continues. The Optionee may exercise this option on or after the date of this option grant for the number of shares of Common Stock, if any, set forth on the cover page hereof. If the Optionee has continuously maintained a Business Relationship (as defined below) with the Company through the dates listed on the vesting schedule set forth on the cover page hereof, the Optionee may exercise this option for the additional number of shares of Common Stock set opposite the applicable vesting date. Notwithstanding the foregoing, the Board may, in its discretion, accelerate the date that any installment of this option becomes exercisable. The foregoing rights are cumulative and may be exercised only before the date which is ten years from the date of this option grant.

Vesting if Business Relationship Continues. The Optionee may only exercise this option on or after the date of this option grant for the number of shares of Common Stock, if any, that are then vested in accordance with the vesting schedule set forth on the cover page hereof. Notwithstanding the foregoing, the Board may, in its discretion, accelerate the date that any installment of this option becomes exercisable. The foregoing rights are cumulative and may be exercised only before the date which is seven (7) years from the date of this option grant.

Vesting if Business Relationship Continues. Subject to the restriction on exercise set forth on the cover page hereof, the Optionee may only exercise this option on or after the date of this option grant for the number of shares of Common Stock, if any, that are then vested in accordance with the vesting schedule set forth on the cover page hereof. Notwithstanding the foregoing, the Board may, in its discretion, accelerate the date that any installment of this option becomes exercisable. The foregoing rights are cumulative and may be exercised only before the date which is seven (7) years from the date of this option grant.

Vesting if Business Relationship Continues. All of the shares of Restricted Stock initially shall be unvested shares. For so long as the Participant maintains continuous service to the Company or its subsidiaries or affiliates as an employee, officer, director or consultant (a “Business Relationship”) throughout the period beginning on the Grant Date and ending on the vesting date set forth below, the Restricted Stock shall become vested according to the schedule set forth below, subject to Section 3 hereof:

Vesting if Business Relationship Continues. All of the shares of Restricted Stock initially shall be unvested shares. The Restricted Stock shall become vested according to the schedule set forth below, subject to Section 3 hereof, for so long as the Participant maintains continuous service to the Company or its subsidiaries or affiliates as an employee, officer, director or consultant (a “Business Relationship”) throughout the period beginning on the Grant Date and ending on the vesting date set forth below (or if such date is not a trading day for the New York Stock Exchange, or such other stock exchange on which the Company’s shares are then listed, on the first trading day following such date): On each anniversary of the Vesting Start Date, one-third of the Restricted Stock granted shall vest. Until the Restricted Stock vests, as provided in this Section and in Section 3, the Participant may not sell, assign, transfer, pledge, or otherwise dispose of the Restricted Stock.

Vesting if Business Relationship Continues. If the Optionee has continued a Business Relationship with the Company on the applicable dates, the Optionee may exercise this option for the following number of Shares: (a) as to one-quarter (1/4) of the Shares, on the first anniversary of Vesting Commencement Date; and (b) as to the remaining three-quarters (3/4) of the Shares, in equal monthly installments of 1/48 beginning one month after the first anniversary of the Vesting Commencement Date and continuing over the next thirty-six (36) month period. The foregoing rights are cumulative and, while the Optionee continues to maintain a Business Relationship with the Company, may be exercised on or before ten years from date hereof (the “Scheduled Expiration Date”). All of the foregoing rights are subject to Sections 4 and 5, as appropriate, if the Optionee ceases to maintain a Business Relationship with the Company or dies or becomes disabled while in a Business Relationship with the Company. For purposes of this Agreement, “Business Relationship” means service to the Company (or any Related Corporation) or its successor in the capacity of an employee, officer, director or consultant.

Vesting if Business Relationship Continues. If the Optionee maintains a continuous Business Relationship with the Company through the dates listed on the vesting schedule set forth on the cover page hereof, Unvested Shares shall become Vested Shares (or shall “vest”) on such dates in an amount equal to the number of shares set opposite the applicable date on the cover page hereof. Option Shares which are “Unvested Shares” shall not be exercisable unless and until they become “Vested Shares.” Subject to the terms and conditions of this Agreement, Vested Shares may be exercised at any time. Notwithstanding the foregoing, the Board may, in its discretion, accelerate the date that any installment of this option becomes exercisable. The foregoing rights are cumulative and (subject to Sections 4 or 5 hereof if the Participant ceases to be involved in a Business Relationship with the Company) may be exercised only before the date which is ten years from the date of this option grant the (“Expiration Date”).

Vesting if Business Relationship Continues