Examples of Existing Equity Awards in a sentence
Pursuant to the contractual arrangements in effect with Executive prior to the Effective Date, 100% of any then-unvested portion of Executive’s Existing Equity Awards shall immediately vest and become exercisable in full upon a “change in control” (as defined in the Company’s 2001 Stock Option Plan, as amended (the “2001 Plan”)) as long as Executive remains a Service Provider (as defined in the 2001 Plan) through such time.
Notwithstanding the foregoing, for each Non-Employee Director who remains in Continuous Service with the Company until immediately prior to the closing of a Change in Control, the shares subject to his or her then-outstanding equity awards that were granted pursuant to the Policy (and any Existing Equity Awards) will become fully vested immediately prior to the closing of such Change in Control.
Of such awards, 75% shall be granted in the form of a stock option (the “Option”) and the remaining 25% shall be granted in the form of a restricted stock unit award (the “RSU Award” and, together with the Existing Equity Awards, the Option, and any future equity awards granted to Executive, the “Awards”).
Notwithstanding the foregoing, for each Non-Employee Director who remains in Continuous Service with the Company until immediately prior to the closing of a Change in Control, the shares subject to his or her then-outstanding equity awards that were granted pursuant to the Policy (and any Existing Equity Awards) will become fully vested immediately prior to the closing of such Change in Control.(d)Remaining Terms.
The Existing Equity Awards will continue on their existing terms, except as expressly set forth in this Agreement, and the Founder’s Cash Sale Bonus Letter Agreement shall continue on its existing terms.
Executive represents that Exhibit B is a correct and complete list of his Existing Equity Awards on the date of this Agreement.
This Agreement, together with the Invention, Non-Disclosure and Non-Solicitation Agreement, Employee Dispute Resolution Program (attached hereto as Exhibit A and Exhibit B respectively) and the Existing Equity Awards, constitutes the entire understanding and agreement between Executive and the Company with respect to the subject matter hereof and supersedes all prior negotiations and understandings, whether written or oral, relating to such subject matter.
This Agreement (the Chairman XXXXX, and the agreements governing the Option, the Existing Equity Awards and any future agreements governing equity awards granted to the Chairman) constitutes the entire agreement between the parties relating to this subject matter and supersedes all prior and contemporaneous oral or written agreements concerning such subject matter.
The above-described awards shall be evidenced by (and subject to the terms of), respectively, a Non-Qualified Stock Option Award Agreement and a Restricted Share Award Agreement entered into as of even date herewith between the Company and the Executive (the 2015 Stock Option and the 2015 Restricted Share Award, together with the Existing Equity Awards, are collectively referred to as the “Executive’s Equity Awards”).
Executive represents that Exhibit A is a correct and complete list of his Existing Equity Awards on the date of this Agreement.