SHOR » Topics » Vesting of New Options

This excerpt taken from the SHOR DEF 14A filed Jan 2, 2009.

Vesting of New Options

Regardless of the extent of the vesting of the existing out-of-the-money options, new options will vest over a new period of four years, with either (i) 25% of the shares subject to the option vesting on the first anniversary of the grant, and the remainder vesting ratably each month over the next three years, or (ii) 50% of the shares subject to the option vesting on the second anniversary of the date of grant, and the remainder vesting ratably on a monthly basis over the next two years. The particular vesting schedule would be determined based on the vesting schedule of the surrendered option and whether its was a new hire grant, which has one year cliff vesting or a

 

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follow-on grant, which has two year cliff vesting. The continued vesting of the new options is subject to continued employment of the recipient with ShoreTel or its subsidiaries.

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