Common use of Performance Based Vesting Options Clause in Contracts

Performance Based Vesting Options. Pursuant to the Plan, on the Effective Date, the Company shall grant you additional stock options under the Plan to purchase up to 324,000 shares of the Company's common stock at an exercise price per share equal to the fair market value of the Company's common stock on the date of the grant, as determined by the Board on the date of grant in accordance with the Plan and applicable law (the "Performance Based Vesting Options"). Your Performance Based Vesting Options will be subject to the terms of the Plan and will become exercisable based on both (i) Your continued service following the date of grant for the vesting periods set forth in the applicable Option Agreement (which vesting periods shall be substantially identical to the vesting periods applicable to the Service Based Vesting Options) and (ii) achievement of performance objectives established on the date of grant and identified in the applicable Option Agreement.

Performance Based Vesting Options. Pursuant to the Plan, on the Effective Date, the Company shall recommend that the Board grant you additional stock options under the Plan to purchase up to 324,000 430,000 shares of the Company's ’s common stock at an exercise price per share equal to the fair market value of the Company's ’s common stock on the date of the grant, as determined by the Board on the date of grant in accordance with the Plan and applicable law (the "“Performance Based Vesting Options"”). Your Performance Based Vesting Options will be subject to the terms of the Plan and will become exercisable based on both (i) Your continued service following the date of grant for the vesting periods set forth in the applicable Option Agreement (which vesting periods shall be substantially identical to the vesting periods applicable to the Service Based Vesting Options) and (ii) achievement of performance objectives established on the date of grant and identified in the applicable Option Agreement. The parties agree that the performance objectives applicable to the Performance Based Vesting Options shall be established by no later than May 15, 2019.