First Anniversary definition
Examples of First Anniversary in a sentence
These options will vest, subject to any stock option agreement between Company and Employee, 25% after one year following the Commencement Date ("First Anniversary Date"), and the remainder to vest on a pro-rata monthly basis over the next 36 months following the First Anniversary Date such that 100% of all such options shall be vested after four years from the Commencement Date.
The determinations made as of the Initial Closing Date shall remain unchanged until the First Anniversary.
Maker shall use reasonable efforts to complete an equity or debt financing prior to the First Anniversary Date to permit Maker to prepay this Note in its entirety.
Beginning on the First Anniversary, the outstanding balance of the Stock Acquisition Loan shall be secured only by shares of Common Stock having a Fair Market Value of one hundred and ten percent (110%) of the outstanding principal amount of the Stock Acquisition Loan (together with interest accrued thereon).
The Restricted Equity Right will become vested and the restricted common equity will be issued only if Executive is, and has been, continuously employed by the Company or its Subsidiaries from the Effective Date through the date of the consummation of an IPO in the case of the IPO Equity Grant and the first anniversary of the consummation of such IPO in the case of the First Anniversary Grant.