2018 Option Sample Clauses

2018 Option. The Company and the Executive hereby agree that the option award granted to Executive on January 29, 2018 (the “January 2018 Option”) shall be amended to revise the vesting schedule therein so that the shares of common stock of the Company (the “Shares”) underlying the January 2018 Option vest in a series of forty-eight (48) successive equal monthly installments on the last day of each month, commencing on the grant date of such January 2018 Option; provided that, in the event that the Company consummates a Corporate Transaction (as defined in the Gemphire Therapeutics Inc. Amended and Restated 2015 Equity Incentive Plan (as it may be amended or modified, the “Equity Incentive Plan”)) that constitutes a Change in Control and the January 2018 Option is not assumed, continued or substituted by the surviving corporation or acquiring corporation (or the surviving or acquiring corporation’s parent company) in such Corporate Transaction in the manner contemplated by Section 9(c)(i) of the Equity Incentive Plan, then 100% of the unvested Shares subject to the January 2018 Option shall fully vest and become exercisable upon the effectiveness of such Corporate Transaction; subject, in each case, to the Executive’s continued employment with the Company as of each such date. The Executive hereby consents to such amendment, as required pursuant to Section 2(b)(viii) of the Equity Incentive Plan.