Base Grants Clause Samples

Base Grants. The Company agrees to grant to the Executive (1) 8,000 qualified stock options for the Company’s stock on the date of this Agreement; and (2) 8,000 qualified stock options on December 1, 2019 if employed on such date. The options shall be issued under the Company’s 2012 Stock Plan or a subsequent Company stock plan. The options granted on the date of this Agreement will vest 1/3 upon grant, 1/3 on December 1, 2018 and the remaining 1/3 on November 30th, 2019. The options granted on December 1, 2019 will vest 1/3 upon grant, 1/3 on December 1, 2020 and the remaining 1/3 on November 30, 2021. A grant agreement memorializing these terms shall be executed by the parties on or as soon as practicable after the grant date.

Base Grants. The Company agrees to grant to the Executive as of December 1, 2013 59,459 restricted shares of Company stock. The shares shall be issued under the Company’s 2012 Stock Plan and will vest 1/3 upon grant, 1/3 on December 1, 2014 and the remaining 1/3 on December 1, 2015. A grant agreement memorializing these terms shall be executed by the parties on or as soon as practicable after the grant date.