Free Vesting Agreement

1. Parties

This Vesting Agreement ("Agreement") is made as of July 16, 2050, by and between [Your Name], [Your Company Name], a company organized and existing under the laws of [Jurisdiction], with its principal place of business located at [Your Company Address] ("Company"), hereinafter referred to as "Company", and [Employee Name], hereinafter referred to as "Employee".

2. Employee Stock Options

The Company, in this instance, is making the provision to the Employee, allowing him or her the option to procure the Company's common stock which is done in accordance with the conditions that are asceratained in this Agreement. It is important to note that this unique stock choice, which is provided by the Company, is not recognized as a qualified stock option but instead one of a non-qualified nature.

3. Terms and Conditions

The terms and conditions of the Employee's rights are defined in the Vesting Schedule attached to this Agreement. The options are to be vested over five years with 20% of the options vesting each year. The exercise price per share is to be determined on the date when the Option is granted.

4. Exercise of Option

Optionee may exercise the vested options in whole or in part at any time during the designated exercise period. This must be done so by giving written notice of intent to exercise, accompanied by the full purchase price payment.

5. Termination of Employment

Should the occasion arise where the employment status of the Employee is terminated for any cause, it should be noted that any stock options that have been vested but have not yet been used or executed as of the exact date the employment termination takes place, will be accordingly canceled. In addition to this, there will also be a cessation of any rights specifically related to the acquisition of stock that have been provided or delineated under this particular agreement or set of circumstances.

6. Agreement

This Agreement is bound upon and benefits the parties, their heirs, executors, administrators, successors, and assignees. This is the entire agreement between the parties and can be amended only with the written consent of the parties.

7. Governing Law

The governance and interpretation of this Agreement will be conducted under the jurisdiction and by the legal framework and laws of the specified state.

8. Acknowledgment

The parties involved in this agreement hereby give their affirmation that they have taken the time to thoroughly read and comprehend all the terms and conditions included in this agreement. They furthermore demonstrate their agreement and consent to abide by all the stipulated terms and conditions without any reservations.

IN WITNESS WHEREOF, the parties duly affix their signatures below:

[Your Name]

[Your Company Name]

[Employee's Name]

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