Vesting of Unvested Shares. Fifty percent (50%) of the Founder Shares initially shall be Unvested Shares. 1/48 of the initial number of Unvested Shares will vest September 15, 2006 and 1/48 of the initial number of Unvested Shares shall vest on the 15th day of each month thereafter subject to the Founder’s continuous service to the Company as an employee or consultant providing services at least three (3) days per week, and 1/96 of the initial number of Unvested Shares shall vest on the 15th day of each month thereafter subject Founder’s continuous service to the Company has an employee or consultant providing services at least one (1) day per week but less than three (3) days per week.
Vesting of Unvested Shares. The Unvested Share Repurchase Option shall terminate and cease to be exercisable with respect to any and all Stock in which Stockholder vests in accordance with the following schedule: [Vesting Schedule]
Vesting of Unvested Shares. 5 --------------------------- 2.2 Repurchase of Executive Shares: Call Option................. 6 --------------------------------------------
Vesting of Unvested Shares. As of the Effective Date, Executive shall become fully vested in the Unvested Shares.
Vesting of Unvested Shares. The Stock shall vest as follows: 1/7th of the Unvested Shares will vest on June 1, 2019, and an additional l/7th of the Unvested Shares will vest after each quarter of continuous service completed thereafter until fully vested on December 31, 2020; provided, however, that such vesting shall immediately cease as of the voluntary or involuntary termination of Purchaser’s services to the Company for any reason, with or without cause.”
Vesting of Unvested Shares. Fifty percent (50%) of the Founder Shares initially shall be Unvested Shares. 1/48 of the initial number of Unvested Shares will vest September 15, 2006 and 1/48 of the initial number of Unvested Shares shall vest on the 15th day of each month thereafter, subject to the Founder’s continuous service to the Company as an employee or consultant. Acceleration of vesting for the Founder’s shares is as set forth in the Employment Agreement.
Vesting of Unvested Shares. The Unvested Shares that are Purchased Shares shall continue to vest in accordance with the terms set forth in the Option Agreement and become Vested Shares at the time of such vesting. If not all of the Unvested Shares are Purchased Shares, the Unvested Shares that are Purchased Shares shall be determined in the order that the Unvested Shares are scheduled to vest pursuant to Section 2 of the Option Agreement (from earliest to latest Vesting Date). For example, if on the Date of Grant, the Purchaser exercises the Option with respect to 1,000,000 of the Option Shares, then (a) 500,000 of such Purchased Shares shall become vested on the first anniversary of the Date of Grant, and the remaining 500,000 of such Purchased Shares shall become vested in equal quarterly installments of 125,000 Option Shares on each of the four three-month anniversaries following such first anniversary, and (b) the Option shall remain exercisable with respect to the remaining 1,000,000 Option Shares, which shall become vested in equal quarterly installments of 125,000 Option Shares on each of the eight three-month anniversaries following the second anniversary of the Date of Grant. 1 Note to Draft: Use this Agreement only if the Option is being early exercised as to some or all of the Option Shares.
Vesting of Unvested Shares. The Unvested Shares will vest at the rate of 2/5 of the shares immediately after such issuance. Thereafter:
(i) 2/5 of the remaining Unvested Shares of Purchaser will vest on the last day of the calendar month in which at least Two Million Five Hundred Thousand Dollars ($2,500,000) is invested in the Company either through a convertible note or a Series A-round on the terms acceptable to the Board of Directors of the Company; provided, that, (A) the Purchaser introduces such investor to the Company and closes such investment on behalf of the Company, and (B) such investment closes and funds no later than December 31, 2019; and
(ii) 1/5 of the remaining Unvested Shares of Purchaser will vest on the last day of each full calendar quarter of Purchaser’s full time service to the Company in the role of Chief Marketing Officer; provided, that, the conditions set forth on Schedule 1 for each such quarter has been satisfied as the Company may reasonably determine in good faith.
Vesting of Unvested Shares. The Unvested Shares will vest in full upon: (i) the Company funding the Option (as defined under the Option Agreement) within twelve (12) months of the Effective Date (the “Funding”), and (ii) the Leases (as defined in the Option Agreement) successfully achieving a 30-day average net production rate of at least 200 barrels per day in post-development operations as set forth in the Development Plan (as defined in the Option Agreement), within two (2) years following the Effective Date.
Vesting of Unvested Shares. (i) 24,130 of the Purchased Shares (subject to adjustment pursuant to Section 2.6 hereof) are Vested Shares as of the date hereof.
(ii) An additional 24,130 of the Purchased Shares (subject to adjustment pursuant to Section 2.6 hereof) shall become Vested Shares on the 1st day of each month after July 2001 (August 1, 2001 is the next vesting date) and before January 2003 if the Purchaser has been continuously employed by the Company until each such date.
(iii) The remaining 24,170 of the Purchased Shares (subject to adjustment pursuant to Section 2.6 hereof) shall become Vested Shares on January 1, 2003 if the Purchaser has been continuously employed by the Company until such date.
b. In the event that Purchaser's Service is terminated by the Company without Cause, the lesser of (i) 144,780 of the Purchased Shares (subject to adjustment pursuant to Section 2.6 hereof) or (ii) all remaining Unvested Shares shall immediately become Vested Shares.
c. Upon the death or permanent disability of the Purchaser, all Unvested Shares shall immediately become Vested Shares.
d. In the event of a Change in Control in which the holders of the Company's outstanding capital stock receive only cash in exchange for such capital stock, all of the Purchased Shares that are Unvested Shares shall become Vested Shares immediately prior to such Change in Control. In the event of any other Change in Control, all Unvested Shares shall immediately become Vested Shares upon any termination of the Purchaser by the Company (or any successor thereto) without Cause occurring after such Change in Control.
