Common use of Vesting of Preferred Options Clause in Contracts

Vesting of Preferred Options. The Preferred Options may be exercised only to the extent they have become vested. The Executive Securityholder's Preferred Options shall be subject to vesting in the manner specified in this Section 2(c). (i) Except as otherwise provided in this Section 2(c), the Preferred Options will become vested in accordance with the following schedule, if as of each such date the Executive Securityholder is still employed by the Company or any of its Subsidiaries: Cumulative Percentage of Date Preferred Options to be Vested ---- ------------------------------ 1st Anniversary of date hereof 20% 2nd Anniversary of date hereof 40% 3rd Anniversary of date hereof 60% 4th Anniversary of date hereof 80% 5th Anniversary of date hereof 100% (ii) Upon the occurrence of a Sale of the Company, all of the Executive Securityholder's Preferred Options which have not yet become vested shall become vested and fully exercisable at the time of such event, if as of the date of such event the Executive Securityholder is still employed by the Company or any of its Subsidiaries.

Vesting of Preferred Options. The Preferred Options may be exercised only to the extent they have become vested. The Executive Securityholder's ’s Preferred Options shall be subject to vesting in the manner specified in this Section 2(c). (i) Except as otherwise provided in this Section 2(c), the Preferred Options will become vested in accordance with the following schedule, if as of each such date the Executive Securityholder is still employed by the Company or any of its Subsidiaries: Cumulative Percentage of Date Preferred Options to be Vested ---- ------------------------------ 1st Anniversary of date hereof 2020 % 2nd Anniversary of date hereof 4040 % 3rd Anniversary of date hereof 6060 % 4th Anniversary of date hereof 8080 % 5th Anniversary of date hereof 100100 % (ii) Upon the occurrence of a Sale of the Company, all of the Executive Securityholder's ’s Preferred Options which have not yet become vested shall become vested and fully exercisable at the time of such event, if as of the date of such event the Executive Securityholder is still employed by the Company or any of its Subsidiaries.

Vesting of Preferred Options. The Preferred Options may be exercised only to the extent they have become vested. The Executive Securityholder's ’s Preferred Options shall be subject to vesting in the manner specified in this Section 2(c). (i) Except as otherwise provided in this Section 2(c), the Preferred Options will become vested in accordance with the following schedule, if as of each such date the Executive Securityholder is still employed by the Company or any of its Subsidiaries: Cumulative Percentage of Date Preferred Options to be Vested ---- ------------------------------ 1st Anniversary of date hereof 20% 2nd Anniversary of date hereof 40% 3rd Anniversary of date hereof 60% 4th Anniversary of date hereof 80% 5th Anniversary of date hereof 100% (ii) Upon the occurrence of a Sale of the Company, all of the Executive Securityholder's ’s Preferred Options which have not yet become vested shall become vested and fully exercisable at the time of such event, if as of the date of such event the Executive Securityholder is still employed by the Company or any of its Subsidiaries.