Employee and Other Stock Arrangements. Each acquisition of any shares of the Company’s capital stock or any option or right to acquire any shares of the Company’s capital stock by an employee or officer of the Company will be conditioned upon the execution and delivery by the Company and such employee or officer of an agreement substantially in the form approved by the Board. Unless otherwise determined by the Board, including a majority of those directors elected by the holders of Preferred Stock, any such option or right to acquire shares of the Company’s capital stock shall vest at the rate of one-fourth ( 1⁄4th) of the shares granted after one year from the date of grant or the commencement of employment or service to the Company and one forty-eighth (1/48th) of the total number of shares granted monthly thereafter. Unless otherwise determined by the Board, any stock sold shall be subject to the Company’s right to repurchase such stock at its original purchase price and such stock shall vest on the same schedule as set forth in the preceding sentence.
Employee and Other Stock Arrangements. The Company will not, without the approval of the Board of Directors, issue any of its capital stock, or grant an option or rights to subscribe for, purchase or acquire any of its capital stock, to any employee, consultant, officer or director of the Company or a subsidiary except for the issuance of up to 5,000,000 shares of Common Stock pursuant to the Company's 1999 Stock Plan. Each acquisition of any shares of capital stock of the Company or any option or right to acquire any shares of capital stock of the Company by an employee, officer or director of the Company will be conditioned upon the execution and delivery by the Company and such employee, officer or director of an agreement substantially in a form approved by the Board of Directors of the Company.
Employee and Other Stock Arrangements. Except as otherwise ------------------------------------- approved by the Company's Board of Directors, all equity securities sold to employees, consultants or other service providers of the Company henceforth shall be subject to a market stand-off provision, right of first refusal (in favor of the Company) and vesting in accordance with the following vesting schedule: twenty five percent (25%) of such stock shall vest after one year of service with the Company and the remainder of such stock shall vest in equal monthly installments over the proceeding thirty-six (36) months.
Employee and Other Stock Arrangements. The Company will not, without the written approval of the Majority Holders, issue any of its capital stock, or grant an option or rights to subscribe for, purchase or acquire any of its capital stock, to any employee, consultant, officer or director of the Company or a subsidiary except for (a) the issuance of up to 5,400,000 shares of Common Stock under the Company's 1997 and 1998 Stock Option Plans and (b) the issuance of additional shares of additional Common Stock or options or rights exercisable for shares of Common Stock, such additional shares not to exceed on an aggregate basis 5% of the outstanding Common Stock of the Company as of the date hereof on a fully diluted basis.
Employee and Other Stock Arrangements. The Company will not, without the approval of the Board of Directors, issue any of its capital stock, or grant an option or rights to subscribe for, purchase or acquire any of its capital stock, to any employee, consultant, officer or director of the Company or a subsidiary. Except as otherwise approved by the Board of Directors, each acquisition of any shares of capital stock of the Company or any option or right to acquire any shares of capital stock of the Company by an employee, consultant, officer or director of the Company will be (a) subject to vesting over a four (4)-year period on a monthly basis, commencing one (1) year after the grant date or commencement of service date and (b) conditioned upon the execution and delivery by the Company and such employee, consultant, officer or director of an agreement substantially in a form approved by the Board of Directors of the Company.
Employee and Other Stock Arrangements. Each acquisition of any shares of the Company’s capital stock or any option or right to acquire any shares of the Company’s capital stock by an employee, consultant, officer or director of the Company will be conditioned upon the execution and delivery by the Company and such employee, consultant, officer or director of an agreement substantially in the form approved by the Board of Directors. Unless otherwise determined by the Company’s Board of Directors (including at least two (2) of the Preferred Directors), any such option or right to acquire shares of the Company’s capital stock shall vest at the rate of one-fourth ( 1/4th) of the shares granted after one year from the date of employment (for any initial grant to an employee, consultant, officer or director) or one year from the date of grant (for all other grants to such employee, consultant, officer or director) and one forty-eighth (1/48th) of the total number of shares granted monthly thereafter. Unless otherwise determined by the Company’s Board of Directors (including at least two (2) of the Preferred Directors), any restricted stock to which this Section 2.4(c) applies shall be subject to the Company’s right to repurchase any shares of unvested stock at the purchase price paid by the holder, a right of first refusal in favor of the Company to purchase any vested stock at the price offered by a third party, a restriction on the transfer of unvested stock, and such stock shall vest on the same schedule as set forth in the preceding sentence.
Employee and Other Stock Arrangements. The Company has issued or reserved for issuance an aggregate of 15,500,411 shares of Common Stock (or Common Stock Equivalents) for issuance to employees, consultants and directors of the Company and persons having a professional relationship with or providing services to the Company, pursuant to the Company’s 2000 Stock Option/Stock Issuance Plan (the “Option Plan”). The Company shall not increase the number of shares of Common Stock reserved under the Option Plan without the approval of a majority of the members of its Board of Directors. Unless otherwise approved by a majority of the members of its Board of Directors, all shares of Common Stock or Common Stock Equivalents issued under the Option Plan shall initially be unvested and shall vest twenty-five percent (25%) at the end of the first year of service, with the remaining seventy-five percent (75%) vesting in 36 equal monthly installments thereafter, subject to continued service to the Company. The Company shall have a right to repurchase any unvested shares issued to any person pursuant to the Option Plan upon the termination, with or without cause, of such person’s employment and shall also have a right of first refusal with respect to any shares of vested stock proposed to be transferred by an employee (subject to the standard exceptions set forth in the Company’s form documents under the Option Plan).
Employee and Other Stock Arrangements. (a) Except as determined otherwise in the discretion of the Board of Directors, each acquisition of any option or right to acquire any shares of capital stock of the Company by an employee, consultant, or director of the Company pursuant to a Company stock or stock option plan shall be subject to a four (4)-year vesting schedule, with twenty-five percent (25%) of the shares vested upon the first anniversary of the commencement of service and the remaining shares subject to monthly vesting thereafter; provided, however (except as otherwise determined by the Board of Directors), if the Board of Directors allows an option holder to exercise an option prior to full vesting, the unvested shares shall be subject to a repurchase option in favor of the Company which shall provide that upon termination of employment, with or without cause, the Company may repurchase, at cost, any unvested shares held by such shareholder.
Employee and Other Stock Arrangements. (a) The Company shall not, ------------------------------------- without the recommendation of its management and approval of the Board of Directors of the Company (or the Compensation Committee thereof including at least one Purchaser Director and no director who is an officer of the Company), issue any of its capital stock or grant an option or rights to subscribe for, purchase or acquire any of its capital stock, to any employee, consultant, officer or director of the Company or a subsidiary, except for issuances of (i) up to 940,000 shares of Common Stock issued pursuant to the exercise of options outstanding on the date hereof or pursuant to the exercise of options issued in accordance with Section C.4(d)(i)(4)(H) of the Restated Certificate, (ii) up to 380,000 shares of Common Stock issued pursuant to the exercise of options granted to certain directors, officers, consultants and employees of the Company pursuant to Company's stock option plan as in effect on the date hereof, the amount of which shall be subject to the approval of, and shall be administered by, the Board of Directors of the Company (or a committee thereof including at least one Purchaser Director and no director who is an officer of the Company), or (iii) up to 840,000 shares of Common Stock issued in accordance with Section C.4(d)(i)(4)(I) of the Restated Certificate.
Employee and Other Stock Arrangements. All Equity Securities sold or granted to employees, consultants or other service providers of the Company holding more than 5% of the outstanding stock of the Company on a fully diluted basis henceforth shall be subject to a market standoff provision at least as restrictive as Section 1.10. This Section 4.1 (and Section 5 or 6, insofar as it applies to this Section 4.1) may be amended, and the observance thereof waived in any respect, with (and only with) the prior written consent of the Company and the holder of a majority of the Common Equivalent Shares then outstanding. This Section 4.1 shall terminate and be of no further force or effect when no Holder holds at least 1,200,000 Common Equivalent Shares (as adjusted for stock splits, reverse stock splits, stock dividends and the like occurring after the date hereof).
