Atticus Option Agreement Labels
The following Atticus Option Agreement Labels are a list of provisions that are important in option agreement diligence review. The following labels are last edited at 2:40 p.m. on February 16, 2020 (PST).
The person receiving the option grant
2. Grant Date
The date of the option grant
3. Vesting Commencement Date
The date that vesting begins
The number of shares subject to the option grant
5. Exercise Price
The price at which options can be exercised
6. Vesting Cliff
The number of year(s) on which the first options vest
7. Vesting Duration
The total number of years until all options are fully vested
8. Vesting Frequency
The frequency on which options grant following the vesting cliff
Are the options designated as incentive stock options or nonqualified stock options?
10. Cashless Exercise
Can the option be exercised without the grantee paying any exercise price directly in cash?
Do the options accelerate and become partially or fully vested upon certain conditions, including a change of control, or termination without cause or leaving for good reason?
12. Acceleration Amount
What is the percentage of unvested options that will become fully vested upon an acceleration event?
13. Cause Definition
Do the unvested options become fully vested upon termination without cause?
14. Good Reason Definition
Do the unvested options become fully vested upon the option holder leaving for good reason?
15. Expiration Period
What is the time period until which the option expires and can no longer be exercised?
Number of years