Vesting and Repurchase Rights. Optionee's right to acquire Common Shares pursuant to the exercise of an Option Right as provided herein shall vest in accordance with the following schedule: Year 1 15,000 shares Vesting quarterly prorata Year 2 15,000 shares Vesting quarterly prorata Year 3 15,000 shares Vesting quarterly prorata Shares will vest on that last day of the quarter. If control of the Company is transferred by purchase of the shares of the Company or otherwise or the Company completes an Initial Public Offering, all vesting shall accelerate by one year.
Appears in 4 contracts
Samples: Independent Contractor Agreement (Vital Living Inc), Independent Contractor Agreement (Vital Living Inc), Independent Contractor Agreement (Vital Living Inc)
