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).
Label
Explanation
Answer Category
1. Grantee
The person receiving the option grant
​
Individual Name
2. Grant Date
The date of the option grant
​
Date
3. Vesting Commencement Date
The date that vesting begins
​
Date
4. Shares
The number of shares subject to the option grant
​
Number
5. Exercise Price
The price at which options can be exercised
​
Price
6. Vesting Cliff
The number of year(s) on which the first options vest
​
Number
7. Vesting Duration
The total number of years until all options are fully vested
​
Number
8. Vesting Frequency
The frequency on which options grant following the vesting cliff
​
Drop-down list
9. ISO/NSO
Are the options designated as incentive stock options or nonqualified stock options?
​
NSO/ISO
10. Cashless Exercise
Can the option be exercised without the grantee paying any exercise price directly in cash?
​
Yes/No
11. Acceleration
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?
​
Yes/No
12. Acceleration Amount
What is the percentage of unvested options that will become fully vested upon an acceleration event?
​
Percentage
13. Cause Definition
Do the unvested options become fully vested upon termination without cause?
​
Yes/No
14. Good Reason Definition
Do the unvested options become fully vested upon the option holder leaving for good reason?
​
Yes/No
15. Expiration Period
What is the time period until which the option expires and can no longer be exercised?
​
Number of years