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.
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.
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.
Each Existing Non-Employee Director who holds one or more Existing Equity Awards on the IPO Date will automatically be granted an RSU Award (each, a “ Delayed Incumbent Director Grant”) on the date immediately following the date that all of the Existing Equity Awards held by the Existing Non-Employee Director have become fully vested (the “Final Vesting Date”) (or, if such date is not a business day, the first business day thereafter).
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.
For the avoidance of doubt, such amounts in Section 5(a)(i) pertaining to Existing Equity Awards relate to the Executive’s employment (and not the Services during the Consulting Period) and are therefore subject to applicable tax withholding and reporting.
Effective as of the closing the initial public offering (the “IPO”) of the Company’s Class A common stock, the vesting of all shares subject to the stock options included in the Existing Equity Awards will be fully accelerated with the shares subject to such stock options subject to the lockup agreement entered into in connection with the IPO.
Each person who is serving as a Non-Employee Director on the IPO Date and who holds one or more Existing Equity Awards on the IPO Date will automatically be granted an RSU Award (each, a “ Delayed Incumbent Director Grant”) on the date immediately following the date that all of the Existing Equity Awards held by such Non-Employee Director have become fully vested (the “Final Vesting Date”) (or, if such date is not a business day, the first business day thereafter).