Incentives, Savings and Retirement Plans. During the Executive’s employment with the Company, the Executive shall also be entitled to participate in all incentive stock option, savings, and retirement plans, policies and programs made available by the Company to executive-level employees generally (“Plans”). Such Plans shall be subject to change from time to time as deemed appropriate and necessary by the Company. In addition, as soon as reasonably practicable after the Executive Start Date and subject to the approval of the Board, the Executive shall be entitled to a stock option grant (the “Option”) to purchase such number of shares of the Company’s common stock that represent 5.0% of the issued and outstanding shares of the Company as of January 18, 2013 (calculated on an as-converted-to-common stock basis). The Option will be exercisable at a price per share equal to the fair market value per share of the Company’s Common Stock on the date of the grant. One quarter of the shares underlying the Option will vest on the twelve (12) month anniversary of the Executive Start Date, with 1/48th of the total number of remaining shares vesting on the first day of each month thereafter.
Appears in 6 contracts
Samples: Employment Agreement, Employment Agreement (ViewRay, Inc.), Employment Agreement (ViewRay, Inc.)
