An exhibition agreement is a contract between an exhibition institution and an artist that allows the institution to display art temporarily. The contract identifies the institution and the artist and mentions which works of art are applicable to the contract.
Vesting is the process of earning an asset, like stock options or employer-matched contributions to your 401(k), over time. Companies often use vesting to encourage you to stay longer at the company. Unless your company allows early exercising, you can only exercise stock options that have vested.
Being vested gives an employee nonforfeitable rights to certain assets. Employee contributions to an employer-sponsored retirement plan are always considered 100% vested. A common vesting schedule is three to five years.
The stock options that have vested are yours to keep when you separate from a company, whether voluntarily or otherwise.
Following this step-by-step checklist will mean that you can write your contract with confidence: Know your parties. Agree on the terms. Set clear boundaries. Spell out the consequences. Specify how you will resolve disputes. Cover confidentiality. Check the legality of the contract. Open it up to negotiation.