Document ID: 11027

Text:
(c) Equity Compensation. Subject to the terms of the Companys 2016 Equity Incentive Plan (the Plan) and approval of the Board or Compensation Committee, at the next regular meeting of the Board or the Compensation Committee on or following the Start Date, the Employee will be granted options to purchase up to 120,000 shares of the Companys common stock, subject to shareholder approval of an increase in the number of shares available under the Plan, on the terms and conditions determined by the Board or the Compensation Committee, with an exercise price of $5.00 per share (provided that the Board or the Compensation Committee determines that such exercise price represents no less than fair market value per share on the date of grant in accordance with the Plan). The shares subject to the option shall vest in three (3) equal annual installments, beginning on the first anniversary of the date of grant, and continuing on each of the second and third anniversaries, provided that the Employee remains employed by or remains a service provider to, the Company through each applicable vesting date. During the Term, subject to the terms and conditions established within the Plan or any successor equity compensation plan as may be in place from time to time and separate award agreements, the Employee also shall be eligible to receive from time to time stock options, stock unit awards, performance shares, performance units, incentive bonus awards, other cash-based awards and/or other stock-based awards (as permitted by the Plan), in amounts, if any, to be approved by the Board or the Compensation Committee in its discretion. Notwithstanding anything in the Plan to the contrary, if (i) the Termination Date occurs at least six (6) months after the Start Date and (ii) the Employee is terminated without Cause (as defined in Section 4.1(b)) or resigns with Good Reason (as defined in Section 4.1(c)) within twenty-four (24) months following a Change in Control (as defined in Section 5.19), in lieu of the application of Section 4.1(d)(ii), the Employee shall receive accelerated vesting of all unvested options upon the Termination Date and all of the Employees outstanding vested stock options shall remain exercisable for a period of six (6) months, measured from the Termination Date (but in no event later than the expiration date of their term); provided, however, that in the event stock options under the Plan are cancelled or otherwise terminated pursuant to the Plan in connection with such Change in Control, the Employees stock options may be cancelled or otherwise terminated, as applicable, on terms no less favorable than those provided to other similarly situated option holders. This Section 3.1(c) shall be deemed an amendment to each award agreement entered into by the Employee evidencing a grant of stock options, whether entered into prior to the Start Date or during the Term (but, in no event shall this Section 3.1(c) be deemed an amendment to any award agreement entered into after expiration of the Term).

Named Entities:
59
61
Shares
105
108
Price
326
334
TerminationDate
375
384
TerminationDate
542
543
Title

Tokenized Text:
(
c
)
Equity
Compensation
.
Subject
to
the
terms
of
the
Companys
2016
Equity
Incentive
Plan
(
the
Plan
)
and
approval
of
the
Board
or
Compensation
Committee
,
at
the
next
regular
meeting
of
the
Board
or
the
Compensation
Committee
on
or
following
the
Start
Date
,
the
Employee
will
be
granted
options
to
purchase
up
to
120
,
000
shares
of
the
Companys
common
stock
,
subject
to
shareholder
approval
of
an
increase
in
the
number
of
shares
available
under
the
Plan
,
on
the
terms
and
conditions
determined
by
the
Board
or
the
Compensation
Committee
,
with
an
exercise
price
of
$
5
.
00
per
share
(
provided
that
the
Board
or
the
Compensation
Committee
determines
that
such
exercise
price
represents
no
less
than
fair
market
value
per
share
on
the
date
of
grant
in
accordance
with
the
Plan
)
.
The
shares
subject
to
the
option
shall
vest
in
three
(
3
)
equal
annual
installments
,
beginning
on
the
first
anniversary
of
the
date
of
grant
,
and
continuing
on
each
of
the
second
and
third
anniversaries
,
provided
that
the
Employee
remains
employed
by
or
remains
a
service
provider
to
,
the
Company
through
each
applicable
vesting
date
.
During
the
Term
,
subject
to
the
terms
and
conditions
established
within
the
Plan
or
any
successor
equity
compensation
plan
as
may
be
in
place
from
time
to
time
and
separate
award
agreements
,
the
Employee
also
shall
be
eligible
to
receive
from
time
to
time
stock
options
,
stock
unit
awards
,
performance
shares
,
performance
units
,
incentive
bonus
awards
,
other
cash-based
awards
and
/
or
other
stock-based
awards
(
as
permitted
by
the
Plan
)
,
in
amounts
,
if
any
,
to
be
approved
by
the
Board
or
the
Compensation
Committee
in
its
discretion
.
Notwithstanding
anything
in
the
Plan
to
the
contrary
,
if
(
i
)
the
Termination
Date
occurs
at
least
six
(
6
)
months
after
the
Start
Date
and
(
ii
)
the
Employee
is
terminated
without
Cause
(
as
defined
in
Section
4
.
1
(
b
)
)
or
resigns
with
Good
Reason
(
as
defined
in
Section
4
.
1
(
c
)
)
within
twenty-four
(
24
)
months
following
a
Change
in
Control
(
as
defined
in
Section
5
.
19
)
,
in
lieu
of
the
application
of
Section
4
.
1
(
d
)
(
ii
)
,
the
Employee
shall
receive
accelerated
vesting
of
all
unvested
options
upon
the
Termination
Date
and
all
of
the
Employees
outstanding
vested
stock
options
shall
remain
exercisable
for
a
period
of
six
(
6
)
months
,
measured
from
the
Termination
Date
(
but
in
no
event
later
than
the
expiration
date
of
their
term
)
;
provided
,
however
,
that
in
the
event
stock
options
under
the
Plan
are
cancelled
or
otherwise
terminated
pursuant
to
the
Plan
in
connection
with
such
Change
in
Control
,
the
Employees
stock
options
may
be
cancelled
or
otherwise
terminated
,
as
applicable
,
on
terms
no
less
favorable
than
those
provided
to
other
similarly
situated
option
holders
.
This
Section
3
.
1
(
c
)
shall
be
deemed
an
amendment
to
each
award
agreement
entered
into
by
the
Employee
evidencing
a
grant
of
stock
options
,
whether
entered
into
prior
to
the
Start
Date
or
during
the
Term
(
but
,
in
no
event
shall
this
Section
3
.
1
(
c
)
be
deemed
an
amendment
to
any
award
agreement
entered
into
after
expiration
of
the
Term
)
.