Common use of Initial Equity Grants Clause in Contracts

Initial Equity Grants. Executive will receive on the Start Date an award of (i) options to purchase 15,000 shares of the Employer's common stock and (ii) restricted stock units representing 20,000 share of the Employer's common stock. The options will have an exercise price equal to the mean between the lowest and highest reported sale prices of the Employer's common stock on the Start Date, will vest and become fully exercisable in three substantially equal installments beginning on the first anniversary of the Start Date, subject to your continued employment through each vesting date, and will have a ten year term. The restricted stock units will become vested and settled in shares of the Employer's common stock as follows, subject to your continued employment through each vesting date: 25% on the first anniversary of the Start Date, 25% on the second anniversary of the Start Date and 50% on the third anniversary of the Start Date.

Initial Equity Grants. Executive will receive on the Start Date an award of (i) options to purchase 15,000 shares of the Employer's ’s common stock and (ii) restricted stock units representing 20,000 share shares of the Employer's ’s common stock. The options will have an exercise price equal to the mean between the lowest and highest reported sale prices of the Employer's ’s common stock on the Start Date, will vest and become fully exercisable in three substantially equal installments beginning on the first anniversary of the Start Date, subject to your continued employment through each vesting date, and will have a ten year term. The restricted stock units will become vested and settled in shares of the Employer's ’s common stock as follows, subject to your continued employment through each vesting date: 25% on thirty days after the first anniversary of the Start Date, 25% on the second anniversary of the Start Date and 50% on the third anniversary of the Start Date.

Initial Equity Grants. Executive will receive on the Start Date an award of (i) options to purchase 15,000 shares of the Employer's ’s common stock and (ii) restricted stock units representing 20,000 share shares of the Employer's ’s common stock. The options will have an exercise price equal to the mean between the lowest and highest reported sale prices of the Employer's ’s common stock on the Start Date, will vest and become fully exercisable in three substantially equal installments beginning on the first anniversary of the Start Date, subject to your continued employment through each vesting date, and will have a ten year term. The restricted stock units will become vested and settled in shares of the Employer's ’s common stock as follows, subject to your continued employment through each vesting date: 25% on the first anniversary of the Start Date, 25% on the second anniversary of the Start Date and 50% on the third anniversary of the Start Date.

Initial Equity Grants. Executive will receive on the Start Date an award of (i) options to purchase 15,000 25,000 shares of the Employer's ’s common stock and (ii) restricted stock units representing 20,000 75,000 share of the Employer's ’s common stock. The options will have an exercise price equal to the mean between the lowest and highest reported sale prices of the Employer's ’s common stock on the Start Date, will vest and become fully exercisable in three substantially equal installments beginning on the first anniversary of the Start Date, subject to your continued employment through each vesting date, and will have a ten year term. The restricted stock units will become vested and settled in shares of the Employer's ’s common stock as follows, subject to your continued employment through each vesting date: 25% on the first anniversary of the Start Date, 25% on the second anniversary of the Start Date and 50% on the third anniversary of the Start Date.