Common use of Option Vesting Clause in Contracts

Option Vesting. Twenty-five percent (25%) of the Option shall vest on the earlier of the Company’s initial public offering of common stock or September 1, 2014 and the balance of the Option shall vest in equal monthly amounts over a period of the next three years, all upon the execution and delivery of the non-qualified stock option agreement governing the Option, as applicable, provided, that in each case, the Employee continues to be an active full-time employee of the Company on the applicable vesting date; and provided further, that, if there shall occur a Change in Control (as defined in Section 4.3(c)) prior to the date on which the Option is fully vested, then the entire unvested portion of such stock, options or rights shall become immediately vested. In addition, the entire unvested portion of the Option shall become immediately vested upon the Employee’s death, Permanent Disability, Termination Without Cause or Termination for Good Reason (all as defined in Section 5 of this Agreement) if the Employee was an active full-time employee of the Company immediately before the applicable vesting termination event.

Option Vesting. Twenty-five percent (25%) of the Option shall vest on the earlier of the Company’s initial public offering of common stock or September 1, 2014 and the balance of the Option shall vest in equal monthly amounts over a period of amount over a period of the next three years, all upon the execution and delivery of the non-qualified stock option agreement governing the Option, as applicable, provided, that in each case, the Employee continues to be an active full-time employee of the Company on the applicable vesting date; and provided further, that, if there shall occur a Change in Control (as defined in Section 4.3(c)) prior to the date on which the Option is fully vested, then the entire unvested portion of such stock, options or rights shall become immediately vested. In addition, the entire unvested portion of the Option shall become immediately vested upon the Employee’s death, Permanent Disability, Termination Without Cause or Termination for Good Reason (all as defined in Section 5 of this Agreement) if the Employee was an active full-time employee of the Company immediately before the applicable vesting termination event.