Escrow Requirement. The Option shall vest immediately on the completion of the IPO and shall be exercisable on the Listing Date. If the Optionee exercises any Options subject to this Agreement prior to the Corporation completing its Qualifying Transaction and the issuance of the Final Exchange Bulletin therefor, the Optionee acknowledges and agrees that the Optionee shall deposit any and all such Optioned Shares issued into escrow with Pacific Corporate Trust Corporation (the “Escrow Agent”) subject to the terms and conditions of the Escrow Agreement and the Optionee covenants to the Corporation that the Optionee shall take all action necessary to cause the Optioned Shares to be deposited into escrow with the Escrow Agent.
Appears in 4 contracts
Samples: Individual Stock Option Agreement, Individual Stock Option Agreement, Individual Stock Option Agreement
