Common use of Employee Vesting Clause in Contracts

Employee Vesting. Unless otherwise approved by the Board of Directors, all future employees and consultants of the Company who purchase, receive options to purchase, or receive awards of shares of the Company’s capital stock after the date hereof shall be required to execute restricted stock or option agreements, as applicable, providing for (i) vesting of shares over a four (4) year period, with the first twenty-five percent (25%) of such shares vesting following twelve (12) months of continued employment or service, and the remaining shares vesting in equal quarterly installments over the following twelve (12) quarters, and (ii) a one hundred eighty (180) day lockup period in connection with the IPO. The Company shall retain a “right of first refusal” on employee transfers until the Company’s IPO and shall have the right to repurchase unvested shares at cost upon termination of employment of a holder of restricted stock.

Employee Vesting. Unless otherwise approved by the Board of Directors, including at least a majority of the Preferred Directors, all future employees and consultants of the Company who shall purchase, receive options to purchase, or receive awards of of, shares of the Company’s capital stock after following the date hereof shall be required to execute restricted stock or option agreements, as applicable, providing for (i) vesting of shares over a four (4) four-year period, period with the first twenty-five percent (25%) % of such shares vesting following twelve (12) months of continued employment or service, and the remaining shares vesting no sooner than in equal quarterly monthly installments over the following twelve (12) quarters, 36 months and (ii) a one hundred eighty (180) -day lockup period in connection with the IPOIPO that is substantially similar to the lockup in Section 2.12. The Company shall retain a “right of first refusal” on employee transfers until the Company’s IPO and shall have the right to repurchase unvested shares at cost upon termination of the employment of a holder of such restricted stock.

Employee Vesting. Unless otherwise approved by the Board of Directors, including the Preferred Directors, all future employees and consultants of the Company who purchase, receive options to purchase, or receive awards of shares of the Company’s capital stock after the date hereof shall be required to execute restricted stock or option agreements, as applicable, providing for (i) vesting of shares over a four (4) year period, with the first twenty-five percent (25%) of such shares vesting following twelve (12) months of continued employment or service, and the remaining shares vesting in equal quarterly monthly installments over the following twelve thirty-six (1236) quartersmonths, and (ii) a one hundred eighty (180) day lockup period in connection with the IPO. The Company shall retain a “right of first refusal” on employee transfers until the Company’s IPO and shall have the right to repurchase unvested shares at cost upon termination of employment of a holder of restricted stock.