Common use of Annual Equity Grant Clause in Contracts

Annual Equity Grant. For each year of employment, subject to the approval of the Board and pursuant to the Plan, as hereinafter amended, restated, or replaced, Executive shall be eligible for grants thereunder in an amount and pursuant to terms as determined by the Board in its sole discretion. Each annual grant provided hereunder, if any, shall vest on terms as provided by the Company and shall be subject to the terms of the Plan and the Company’s Option grant documents, the execution of which by Executive is required for any such grant. Nothing herein requires the Board to make any grant under the Plan or otherwise.

Annual Equity Grant. For each year of employmentemployment during the Term, subject to the approval of the Board and pursuant to the Plan, as hereinafter amended, restated, or replaced, Executive shall be eligible for receive grants thereunder in an amount and pursuant to terms as determined by the Board in its sole discretion. Each annual grant provided hereunder, if any, shall vest on terms as provided by the Company and shall be subject to the terms of the Plan and the Company’s Option grant documentsPlan, the execution of which by Executive is required for any such grant. Nothing Notwithstanding the foregoing, nothing herein requires the Board to make any grant under the Plan or otherwise.