Vesting of Reserved Employee Shares. The Company shall not ----------------------------------- grant to any of its employees options to purchase Reserved Employee Shares which will become exercisable at a rate in excess of 25% per annum from the date of such grant without the approval of the Company's Board of Directors.
Appears in 3 contracts
Samples: Preferred Stock Purchase Agreement (Adolor Corp), Preferred Stock Purchase Agreement (Adolor Corp), Preferred Stock Purchase Agreement (Adolor Corp)
Vesting of Reserved Employee Shares. The Company shall not ----------------------------------- grant to any of its employees options to purchase Reserved Employee Shares which will become exercisable at a rate in excess of 25% per annum from the date of such grant (except as set forth on Schedule II) without the approval consent of the Company's Board of Directors.
Appears in 3 contracts
Samples: Preferred Stock Purchase Agreement (Careerbuilder Inc), Preferred Stock Purchase Agreement (Careerbuilder Inc), Preferred Stock Purchase Agreement (Careerbuilder Inc)
Vesting of Reserved Employee Shares. The Company shall not ----------------------------------- grant to any of its directors, employees or consultants options to purchase Reserved Employee Shares Common Stock which will become exercisable at a rate in excess of 2520% per annum from the date of such grant without the approval unanimous written consent of those members of the Company's Board of DirectorsDirectors elected solely by the holders of Series A Convertible Preferred Stock.
Appears in 2 contracts
Samples: Convertible Preferred Stock Purchase Agreement (Genomica Corp /De/), Series a Convertible Preferred Stock Purchase Agreement (Genomica Corp /De/)
Vesting of Reserved Employee Shares. The Company shall not ----------------------------------- grant to any of its employees options to purchase Reserved Employee Shares which will become exercisable at a rate in excess of 2520% per annum from the date of such grant without the approval unanimous written consent of that member of the Company's Board of DirectorsDirectors nominated by the holders of the Preferred Stock and the Warrants or elected by the holders of the Preferred Stock or the Common Stock, as the case may be.
Appears in 1 contract
Samples: Convertible Preferred Stock and Warrant Purchase Agreement (Medical Sterilization Inc)
Vesting of Reserved Employee Shares. The Company shall not ----------------------------------- grant to any of its employees options to purchase Reserved Employee Shares which will become exercisable at a rate in excess of 25% per annum from the date of such grant without the approval unanimous written consent of the Company's Board of DirectorsPurchaser Nominees.
Appears in 1 contract
Samples: Stockholder Rights Agreement (Elixir Pharmaceuticals Inc)
Vesting of Reserved Employee Shares. The Company ----------------------------------- shall not ----------------------------------- grant to any of its employees options to purchase Reserved Employee Shares which will become exercisable at a rate in excess of 25% per annum from the date of such grant without the approval unanimous written consent of those members of the Company's Board of DirectorsDirectors elected solely by the holders of Series A Convertible Preferred Stock.
Appears in 1 contract
Samples: Convertible Preferred Stock Purchase Agreement (Adolor Corp)
Vesting of Reserved Employee Shares. The Company shall not ----------------------------------- grant to any of its employees options to purchase Reserved Employee Shares which will become exercisable at a rate in excess of 25% per annum from the date of such grant without the approval unanimous written consent of those members of the Company's Board of DirectorsDirectors elected solely by the holders of Series B Convertible Preferred Stock.
Appears in 1 contract
Samples: Convertible Preferred Stock Purchase Agreement (Adolor Corp)
Vesting of Reserved Employee Shares. The Company shall not ----------------------------------- grant to any of its employees options to purchase Reserved Employee Shares which will become exercisable at a rate in excess of 2533-1/3% per annum from the date of such grant without the approval unanimous written consent of those members of the Company's Board of DirectorsDirectors elected solely by the holders of Series A Convertible Preferred Stock.
Appears in 1 contract
Samples: Convertible Preferred Stock Purchase Agreement (Starmedia Network Inc)
