Common use of Vesting of Founder Shares Clause in Contracts

Vesting of Founder Shares. The Founder Shares held directly or indirectly by each Founder, shall vest as follows: 25% to vest one year from the date of this agreement and the remaining 75% to vest in equal monthly installments over the following 36 months (one forty-eight per month). Those Shares that are vested is defined as “Vested Founder Shares”, the Shares that are not vested is defined as “Unvested Founder Shares”. The purchase right of the Shareholders specified in this Clause shall apply only to unvested Founder Shares.

Vesting of Founder Shares. The Founder Shares held directly or indirectly by each Founder, shall vest as follows: 25% to vest one year from the date of this agreement and the remaining 75% to vest in equal monthly installments over the following 36 months (one forty-eight per month). Those Shares that are vested is defined defined as “Vested Founder Shares”, the Shares that are not vested is defined defined as “Unvested Founder Shares”. The purchase right of the Shareholders specified specified in this Clause shall apply only to unvested Founder Shares.