Common use of Liquidity Vesting Condition Clause in Contracts

Liquidity Vesting Condition. The liquidity-based vesting condition will be satisfied upon a Change in Control (as defined in the 2017 EIP) or an initial public offering of the Company (an “IPO”). For these purposes, an IPO includes the Company’s bona fide business combination with a special purpose acquisition company in connection with which the combined company’s equity securities become publicly traded (i.e., a SPAC merger transaction). If Executive’s employment is terminated before an applicable time vesting date, any portion of the RSUs which have not satisfied the Time Vesting Condition prior to such termination shall automatically be forfeited, terminated and canceled as of the applicable termination date without payment of any consideration by the Company; provided, however, that those RSUs that have satisfied the Time Vesting Condition on or prior to such termination will remain outstanding and subject to the Liquidity Vesting Condition. By agreeing to the Cancellation and accepting the RSUs, Executive agrees that Executive will have no further rights or claims to any portion of Executive’s option grant ES-14703.

Liquidity Vesting Condition. The liquidity-based vesting condition will be satisfied upon a Change in Control (as defined in the 2017 EIP) or an initial public offering of the Company (an “IPO”). For these purposes, an IPO includes the Company’s bona fide business combination with a special purpose acquisition company in connection with which the combined company’s equity securities become publicly traded (i.e., a SPAC merger transaction). If Executive’s employment is terminated before an applicable time vesting date, any portion of the RSUs which have not satisfied the Time Vesting Condition prior to such termination shall automatically be forfeited, terminated and canceled as of the applicable termination date without payment of any consideration by the Company; provided, however, that those RSUs that have satisfied the Time Vesting Condition on or prior to such termination will remain outstanding and subject to the Liquidity Vesting Condition. By agreeing to the Cancellation and accepting the RSUs, Executive agrees that Executive will have no further rights or claims to any portion of Executive’s option grant ES-14703ES-10579.