Common use of RSUs and Stock Options Clause in Contracts

RSUs and Stock Options. Of the Overall Plan Number, a number of shares equal to 11% of the Common Stock outstanding on a post-money basis immediately following the closing of the IPO shall be reserved for the planned post-closing equity grants to employees, directors and consultants of Ruthigen who are in service to Ruthigen on the closing of the IPO (the “Closing Current Employee Portion”), in amounts determined by the Ruthigen board of directors. It is understood that Ruthigen intends to make such grants on the 46th day following the closing of the IPO (such grant date, the “Post Closing Grant Date”). The Ruthigen board of directors may elect to make the Closing Current Employee Portion grants as a combination of stock options and/or RSUs, but under the Equity Plan the combination of grantable stock options and/or RSUs in the Closing Current Employee Portion shall never exceed 11% of the Common Stock outstanding on a post-money basis immediately following the closing of the IPO.

RSUs and Stock Options. Of the Overall Plan Number, a number of shares equal to 11% of the Common Stock outstanding on a post-money basis immediately following the closing of the IPO shall be reserved for the planned post-closing equity grants to employees, directors and consultants of Ruthigen who are in service to Ruthigen on the closing of the IPO (the “Closing Current Employee Portion”), in amounts determined by the Ruthigen board of directors. It is understood that Ruthigen intends to make such grants on the 46th 46 th day following the closing of the IPO (such grant date, the “Post Closing Grant Date”). The Ruthigen board of directors may elect to make the Closing Current Employee Portion grants as a combination of stock options and/or RSUs, but under the Equity Plan the combination of grantable stock options and/or RSUs in the Closing Current Employee Portion shall never exceed 11% of the Common Stock outstanding on a post-money basis immediately following the closing of the IPO.