{"component": "clause", "props": {"groups": [{"snippet": "As soon as practicable after the Effective Date, the Company will grant to Executive restricted stock units (\u201cRSUs\u201d) under the Company\u2019s Incentive Plan. The number of RSUs will be the quotient of (a) six (6) times Executive\u2019s Base Salary, divided by (b) the closing price of the Company\u2019s common stock on the Effective Date (or, if the Effective Date is not a trading day, the last preceding trading day), rounded down to the nearest whole share. The RSUs will vest as to one-third (1/3) of the RSUs on each of the first, second and third anniversaries of the date of grant, in each case subject to Executive\u2019s continued employment through the applicable vesting date. Except as expressly provided in this Agreement, the RSUs will otherwise be governed by the Incentive Plan and the applicable award agreement.", "samples": [{"hash": "cpHTzHZyTft", "uri": "/contracts/cpHTzHZyTft#initial-grant", "label": "Employment Agreement (Cleanspark, Inc.)", "score": 36.6851463318, "published": true}, {"hash": "a9y6buYPg7g", "uri": "/contracts/a9y6buYPg7g#initial-grant", "label": "Employment Agreement (Cleanspark, Inc.)", "score": 36.6851463318, "published": true}, {"hash": "7rQexR0vzVv", "uri": "/contracts/7rQexR0vzVv#initial-grant", "label": "Employment Agreement (Cleanspark, Inc.)", "score": 36.6851463318, "published": true}], "size": 5, "snippet_links": [{"key": "as-soon-as-practicable", "type": "definition", "offset": [0, 22]}, {"key": "after-the-effective-date", "type": "clause", "offset": [23, 47]}, {"key": "the-company-will", "type": "clause", "offset": [49, 65]}, {"key": "grant-to-executive", "type": "clause", "offset": [66, 84]}, {"key": "restricted-stock-units", "type": "clause", "offset": [85, 107]}, {"key": "incentive-plan", "type": "clause", "offset": [137, 151]}, {"key": "number-of-rsus", "type": "definition", "offset": [157, 171]}, {"key": "base-salary", "type": "definition", "offset": [226, 237]}, {"key": "divided-by", "type": "clause", "offset": [239, 249]}, {"key": "of-the-company", "type": "clause", "offset": [272, 286]}, {"key": "on-the-effective-date", "type": "clause", "offset": [302, 323]}, {"key": "trading-day", "type": "definition", "offset": [360, 371]}, {"key": "date-of-grant", "type": "definition", "offset": [560, 573]}, {"key": "each-case", "type": "definition", "offset": [578, 587]}, {"key": "subject-to", "type": "clause", "offset": [588, 598]}, {"key": "continued-employment", "type": "definition", "offset": [611, 631]}, {"key": "applicable-vesting-date", "type": "definition", "offset": [644, 667]}, {"key": "except-as-expressly-provided", "type": "clause", "offset": [669, 697]}, {"key": "in-this-agreement", "type": "definition", "offset": [698, 715]}, {"key": "the-incentive", "type": "clause", "offset": [756, 769]}, {"key": "award-agreement", "type": "definition", "offset": [794, 809]}], "hash": "69d5da57199916968ec8a6ff1d1b7c0d", "id": 3}, {"snippet": "Pursuant to the Amended and Restated NorthPoint ------------- Communications Group, Inc. 1999 Stock Option Plan (the \"Option Plan\"), Executive received a grant of stock options on June 29, 1999 (the \"Initial Grant\"). The Option Agreement between the Company and Executive Agreement that underlies the Initial Grant (the \"Option Agreement\") is attached hereto as Exhibit A. ---------", "samples": [{"hash": "luTEHL5Y9i4", "uri": "/contracts/luTEHL5Y9i4#initial-grant", "label": "Employment Agreement (Northpoint Communications Group Inc)", "score": 18.0, "published": true}, {"hash": "fkRBeAaDs4g", "uri": "/contracts/fkRBeAaDs4g#initial-grant", "label": "Employment Agreement (Northpoint Communications Group Inc)", "score": 18.0, "published": true}], "size": 5, "snippet_links": [{"key": "the-amended-and-restated", "type": "clause", "offset": [12, 36]}, {"key": "communications-group", "type": "definition", "offset": [62, 82]}, {"key": "stock-option-plan", "type": "clause", "offset": [94, 111]}, {"key": "grant-of-stock-options", "type": "clause", "offset": [154, 176]}, {"key": "agreement-between", "type": "clause", "offset": [228, 245]}, {"key": "executive-agreement", "type": "clause", "offset": [262, 281]}, {"key": "attached-hereto-as-exhibit", "type": "definition", "offset": [343, 369]}], "hash": "17112bac52499e514493f2ee8a94b555", "id": 5}, {"snippet": "As soon as practicable after the effective date of this Agreement and subject to Board and all other required approvals, the Company shall grant to the Executive under the Company\u2019s Amended and Restated 2003 Stock Incentive Plan (the \u201cPlan\u201d) a non-qualified stock option to purchase a number of shares of the common stock of the Company equal to 5.15% of the Company\u2019s fully-diluted common stock (excluding the effects of any conversion of the (i) debt issued in connection with the Initial Financing, (ii) the investor convertible subordinated debt issued in January 2014 or (iii) any other convertible debt that is issued prior to the thirty-six (36) month anniversary of the Effective Date) with a per share exercise price equal to the fair market value of the Company\u2019s common stock (as determined by the Board pursuant to the Plan) at the time of grant. The Initial Grant shall be granted pursuant to and governed by the terms of a stock option award agreement in a form provided by the Company at the time of grant; provided, however, that the form shall provide for cashless exercise of the option in an amount sufficient to satisfy the option exercise price. Provided the Executive remains continuously and actively employed with the Company through the applicable vesting date, the Initial Grant will be vested and exercisable with respect to (i) 10% of the underlying common stock as of the Effective Date, (ii) 25% of the underlying common stock on the first (1st) anniversary of the Effective Date, and (iii) the remaining shares of underlying common stock in substantially equal monthly installments over the 36-month period that commences on the first (1st) anniversary of the Effective Date. Notwithstanding the foregoing, the Initial Grant shall be fully vested and exercisable immediately prior to, but contingent upon, the occurrence of a Change in Control (as defined above), provided the Executive remains continuously and actively employed with the Company through the date of such Change in Control. 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{"key": "common-shares", "type": "definition", "offset": [101, 114]}, {"key": "the-capital", "type": "clause", "offset": [118, 129]}, {"key": "terms-of", "type": "clause", "offset": [164, 172]}, {"key": "board-of-directors-of-the-parent", "type": "clause", "offset": [211, 243]}, {"key": "in-accordance-with", "type": "definition", "offset": [244, 262]}, {"key": "stock-option-plan", "type": "clause", "offset": [276, 293]}], "hash": "2ff86690edaff0055f3785d69cb35549", "id": 2}, {"snippet": "Executive is hereby awarded an option to acquire 3,000,000 shares of the Company\u2019s common stock or their equivalent, $0.001 par value, at the exercise price equal to the average of the closing prices of the shares for the ten (10) trading days prior to the Effective Date. The Effective Date shall be the date upon which this Executive Employment Agreement has been fully executed and delivered by both Executive and Company. The option shall vest as follows: 750,000 12/16/2022 12/16/2021 750,000 12/16/2023 12/16/2021 750,000 12/16/2024 12/16/2021 750,000 12/16/2025 12/16/2021", "samples": [{"hash": "fpyN5acEuU3", "uri": "/contracts/fpyN5acEuU3#initial-grant", "label": "Executive Employment Agreement (iCoreConnect Inc.)", "score": 31.2929496765, "published": true}, {"hash": "7d8JkQxwFju", "uri": "/contracts/7d8JkQxwFju#initial-grant", "label": "Executive Employment Agreement (iCoreConnect Inc.)", "score": 31.2929496765, "published": true}], "size": 5, "snippet_links": [{"key": "option-to-acquire", "type": "clause", "offset": [31, 48]}, {"key": "shares-of-the-company", "type": "definition", "offset": [59, 80]}, {"key": "common-stock", "type": "definition", "offset": [83, 95]}, {"key": "par-value", "type": "definition", "offset": [124, 133]}, {"key": "the-exercise-price", "type": "definition", "offset": [138, 156]}, {"key": "equal-to", "type": "definition", "offset": [157, 165]}, {"key": "closing-prices", "type": "definition", "offset": [185, 199]}, {"key": "the-shares", "type": "clause", "offset": [203, 213]}, {"key": "prior-to-the-effective-date", "type": "clause", "offset": [244, 271]}, {"key": "executive-employment-agreement", "type": "definition", "offset": [326, 356]}, {"key": "executed-and-delivered", "type": "clause", "offset": [372, 394]}, {"key": "and-company", "type": "clause", "offset": [413, 424]}, {"key": "the-option", "type": "clause", "offset": [426, 436]}], "hash": "369af2855fe83c332f72ff9ab94d7642", "id": 4}, {"snippet": "COMPANY shall issue to \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 a total of [***] shares of Common Stock of COMPANY, $0.001 par value per share, (the \u201cShares\u201d) in the name of \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587, which shares represent the equivalent to [***] of the capitalization of COMPANY on a Fully-Diluted Basis (as defined below), after giving effect to the sale of [***] in COMPANY equity, subject to \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 and, to the extent \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 has transferred such Shares, any of its transferees (the \u201c\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 Holders\u201d) entering into a representation letter in substantially the form attached hereto as Appendix C with respect to such issuance of shares to \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 and the \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 Holders.", "samples": [{"hash": "6VQdqi8axhO", "uri": "/contracts/6VQdqi8axhO#initial-grant", "label": "Exclusive Patent License Agreement", "score": 31.3408622742, "published": true}, {"hash": "bmrY3CHXM49", "uri": "/contracts/bmrY3CHXM49#initial-grant", "label": "Exclusive Patent License Agreement (Rubius Therapeutics, Inc.)", "score": 29.470911026, "published": true}, {"hash": "7HYFkjeoP1n", "uri": "/contracts/7HYFkjeoP1n#initial-grant", "label": "Exclusive Patent License Agreement (Rubius Therapeutics, Inc.)", "score": 29.3915119171, "published": true}], "size": 4, "snippet_links": [{"key": "issue-to", "type": "clause", "offset": [14, 22]}, {"key": "stock-of-company", "type": "clause", "offset": [67, 83]}, {"key": "par-value-per-share", "type": "clause", "offset": [92, 111]}, {"key": "capitalization-of-company", "type": "clause", "offset": [208, 233]}, {"key": "diluted-basis", "type": "definition", "offset": [245, 258]}, {"key": "after-giving", "type": "clause", "offset": [279, 291]}, {"key": "sale-of", "type": "clause", "offset": [306, 313]}, {"key": "company-equity", "type": "definition", "offset": [323, 337]}, {"key": "subject-to", "type": "clause", "offset": [339, 349]}, {"key": "to-the-extent", "type": "clause", "offset": [365, 378]}, {"key": "entering-into", "type": "clause", "offset": [467, 480]}, {"key": "representation-letter", "type": "definition", "offset": [483, 504]}, {"key": "appendix-c", "type": "definition", "offset": [550, 560]}, {"key": "with-respect-to", "type": "clause", "offset": [561, 576]}, {"key": "issuance-of-shares", "type": "clause", "offset": [582, 600]}, {"key": "the-\u2587", "type": "clause", "offset": [618, 623]}], "hash": "cac83a3ab0987ea3446e7f18707d999f", "id": 6}, {"snippet": "Employer hereby grants to Employee 10,000 shares of Restricted Stock in accordance with the terms and conditions of Employer\u2019s Long Term Incentive Plan and pursuant to the Restricted Stock Agreement attached hereto as Exhibit \u201cA,\u201d which is incorporated by reference as if set forth fully herein (the \u201cRestricted Stock Agreement\u201d). Such shares of Restricted Stock shall vest as follows: (i) forty percent (40%) of the shares (or units) shall vest on January 1, 2012; (ii) twenty percent (20%) of the shares (or units) shall vest on January 1, 2013; (iii) twenty percent (20%) of the shares (or units) shall vest on January 1, 2014; and (iv) twenty percent (20%) of the shares (or units) shall vest on January 1, 2015.", "samples": [{"hash": "gYNcFz08uvc", "uri": "/contracts/gYNcFz08uvc#initial-grant", "label": "Incentive Compensation, Confidentiality, Non Disclosure and Non Compete Agreement", "score": 34.2899208069, "published": true}, {"hash": "l5EDdXSvZa5", "uri": "/contracts/l5EDdXSvZa5#initial-grant", "label": "Incentive Compensation, Confidentiality, Non Disclosure and Non Compete Agreement", "score": 34.0248260498, "published": true}, {"hash": "jBeiZ8slSSg", "uri": "/contracts/jBeiZ8slSSg#initial-grant", "label": "Incentive Compensation, Confidentiality, Non Disclosure and Non Compete Agreement (Group 1 Automotive Inc)", "score": 21.1149902344, "published": true}], "size": 4, "snippet_links": [{"key": "to-employee", "type": "clause", "offset": [23, 34]}, {"key": "shares-of-restricted-stock", "type": "clause", "offset": [42, 68]}, {"key": "in-accordance-with", "type": "definition", "offset": [69, 87]}, {"key": "terms-and-conditions-of", "type": "clause", "offset": [92, 115]}, {"key": "long-term-incentive-plan", "type": "clause", "offset": [127, 151]}, {"key": "restricted-stock-agreement", "type": "definition", "offset": [172, 198]}, {"key": "attached-hereto-as-exhibit", "type": "definition", "offset": [199, 225]}, {"key": "incorporated-by-reference", "type": "definition", "offset": [240, 265]}, {"key": "stock-shall", "type": "definition", "offset": [357, 368]}, {"key": "the-shares", "type": "clause", "offset": [413, 423]}], "hash": "5f86c6fc12233ce9f1229ab98216935c", "id": 7}, {"snippet": "On the Effective Date, Executive will receive a grant (the \u201cRSU Grant\u201d) of restricted stock units (the \u201cRSUs\u201d) equal to 9,500 shares of the Company\u2019s common stock. The RSU Grant shall vest as follows: (i) 25% on the six-month anniversary of the Effective Date; (ii) 25% on the twelve-month anniversary of the Effective Date; and (iii) the remaining 50% in twelve (12) quarterly installments, provided Executive remains continuously employed by Company through each such vesting date. The RSU Grant shall be made pursuant to the Plan, and shall in all respects be subject to the terms and conditions of such Plan.", "samples": [{"hash": "2l2QUIWltO4", "uri": "/contracts/2l2QUIWltO4#initial-grant", "label": "Employment Agreement (CNS Pharmaceuticals, Inc.)", "score": 35.2436676025, "published": true}, {"hash": "8Y5Cfug8mNR", "uri": "/contracts/8Y5Cfug8mNR#initial-grant", "label": "Employment Agreement (CNS Pharmaceuticals, Inc.)", "score": 35.1642723083, "published": true}, {"hash": "98b6mCO6qy2", "uri": "/contracts/98b6mCO6qy2#initial-grant", "label": "Employment Agreement (CNS Pharmaceuticals, Inc.)", "score": 35.1286773682, "published": true}], "size": 4, "snippet_links": [{"key": "on-the-effective-date", "type": "clause", "offset": [0, 21]}, {"key": "rsu-grant", "type": "clause", "offset": [60, 69]}, {"key": "restricted-stock-units", "type": "clause", "offset": [75, 97]}, {"key": "equal-to", "type": "definition", "offset": [111, 119]}, {"key": "shares-of-the-company", "type": "definition", "offset": [126, 147]}, {"key": "common-stock", "type": "definition", "offset": [150, 162]}, {"key": "quarterly-installments", "type": "clause", "offset": [368, 390]}, {"key": "by-company", "type": "clause", "offset": [441, 451]}, {"key": "vesting-date", "type": "definition", "offset": [470, 482]}, {"key": "pursuant-to-the-plan", "type": "clause", "offset": [512, 532]}, {"key": "in-all-respects", "type": "clause", "offset": [544, 559]}, {"key": "terms-and-conditions-of", "type": "clause", "offset": [578, 601]}], "hash": "66c9821d620d645b8484191190486007", "id": 8}, {"snippet": "COMPANY shall issue a total of [***] shares (the \u201cShares\u201d) of Common Stock of COMPANY, $0.0001 par value per share (\u201cCommon Stock\u201d), to M.I.T. and those persons as M.I.T. shall direct (the \u201cM.I.T. Holders\u201d), \u2587\u2587\u2587\u2587\u2587\u2587\u2587, HARVARD, INSTITUTE and CMCC, in the amounts as M.I.T. shall direct, such information to be provided within thirty (30) days of the EFFECTIVE DATE; provided, however, that each of M.I.T., [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. \u2587\u2587\u2587\u2587\u2587\u2587\u2587, HARVARD, INSTITUTE, CMCC and each M.I.T. Holder (collectively, the \u201cShareholders\u201d and individually, each a \u201cShareholder\u201d), shall execute (I) an investment letter in a form mutually agreeable to M.I.T. and COMPANY; and (II) a First Amendment to Right of First Refusal and Co-Sale Agreement in the form attached hereto as Exhibit C (the \u201cROFR and Co-Sale Agreement\u201d). Such issuance shall be recorded on the Stock Transfer Ledger of COMPANY on the EFFECTIVE DATE and, subject to the conditions in the proviso above, the Shares shall be delivered to each Shareholder within thirty (30) days after the EFFECTIVE DATE. COMPANY agrees that the joinder agreement that binds \u2587\u2587\u2587\u2587\u2587\u2587\u2587 to the ROFR and Co-Sale Agreement shall provide that \u2587\u2587\u2587\u2587\u2587\u2587\u2587 shall not be bound by Section 7 (Co-Sale) thereof.", "samples": [{"hash": "lRZ8LdzcJev", "uri": "/contracts/lRZ8LdzcJev#initial-grant", "label": "Exclusive Patent License Agreement (Selecta Biosciences Inc)", "score": 27.3928813934, "published": true}, {"hash": "dAt3R9YIa29", "uri": "/contracts/dAt3R9YIa29#initial-grant", "label": "Exclusive Patent License Agreement (Selecta Biosciences Inc)", "score": 27.2094459534, "published": true}], "size": 4, "snippet_links": [{"key": "stock-of-company", "type": "clause", "offset": [69, 85]}, {"key": "par-value-per-share", "type": "clause", "offset": [95, 114]}, {"key": "information-to-be-provided", "type": "clause", "offset": [290, 316]}, {"key": "within-thirty", "type": "clause", "offset": [317, 330]}, {"key": "certain-information", "type": "clause", 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Purchase"]], "related_snippets": [], "updated": "2026-10-08T05:48:26+00:00", "also_ask": ["What are the minimum rights that must be included in the Initial Grant to protect the grantee\u2019s interests?", "How can the scope of the Initial Grant be strategically limited or expanded during negotiations?", "What are the most common pitfalls or ambiguities in Initial Grant clauses that lead to litigation?", "How does the enforceability of Initial Grant provisions differ across key jurisdictions?", "What drafting language best ensures the Initial Grant survives termination or assignment scenarios?"], "drafting_tip": "Specify the rights granted, identify the grantee, and define the duration to avoid ambiguity, ensure enforceability, and clarify obligations.", "explanation": "The Initial Grant clause defines the rights or permissions that are first provided by one party to another under an agreement, typically relating to the use of intellectual property, technology, or other assets. This clause specifies the scope, duration, and limitations of the rights granted, such as whether the license is exclusive or non-exclusive, the territories covered, and any restrictions on use. By clearly outlining what is being granted and under what conditions, the clause ensures both parties understand their rights and obligations from the outset, thereby reducing the risk of disputes over the use or ownership of the granted assets."}, "json": true, "cursor": ""}}