Common use of Acquisition of Incentive Shares Clause in Contracts

Acquisition of Incentive Shares. Executive may acquire Incentive Shares in tranches as set forth as each Milestone is achieved at any time or from time to time on or after the date hereof and so long as he is employed by the Company, but not later than 5:00 p.m. New York time, on the Expiration Date. If such date is a day on which banking institutions are authorized by law to close, then the Expiration Date shall be on the next succeeding day which shall not be such a day. Incentive Shares may be acquired without regard to the sequence in which the Milestones have been achieved. A Notice of Intention to acquire Incentive Shares shall be submitted by the Executive to the Company's Board of Directors, identifying the Milestone achieved and the number of shares covered by the relevant tranche. The Board of Directors shall be deemed to have approved the relevant acquisition of Incentives Shares unless, within seventy two (72) hours of the submission of the Notice of Intention , the Board adopts a resolution determining that Incentive Shares may not be issued as to the Milestone identified in the Notice of Intention. In the absence of such a disaffirming resolution, Executive may acquire Incentive Shares thereafter by presentation of the Notice of Intention either to the Company or at the office of its stock transfer agent, if any, and accompanied by payment in cash or cash equivalent of the Purchase Price for the number of Incentive Shares specified in such Notice of Intention, together with all federal and state taxes applicable upon such exercise.

Acquisition of Incentive Shares. Subject to the limitations set forth in this Agreement, the Executive may exercise the option to acquire the Incentive Shares in tranches as set forth as each Milestone is achieved at any time or from time to time on or after the date hereof on which the applicable Milestone is achieved and so long as he is employed by the Company, but not later than 5:00 p.m. New York time, on the Expiration Date, upon notice to the Company at its principal office at 10220-1 Old Columbia Road, Colxxxxx, XX 00000-0000, Xxxxxxxxx: Xxxxxxx X. Xxlk, President xxx Xxxxx Xxxxxxive Officer (or at such other location as the Company may advise the Executive in writing). The notice shall be executed and delivered with the Purchase Form attached hereto duly filled in and signed and upon payment in cash or cashier's check of the aggregate Purchase Price for the number of shares which Executive is acquiring determined in accordance with the provisions hereof. If such date is a day on which banking institutions are authorized by law to close, then the Expiration Date shall be on the next succeeding day which shall not be such a day. Incentive Shares may be acquired without regard to the sequence in which the Milestones have been achieved. A Notice of Intention to acquire Incentive Shares shall be submitted by the Executive to the Company's Board of Directors, identifying the Milestone achieved and the number of shares covered by the relevant tranche. The Board of Directors shall be deemed to have approved the relevant acquisition of Incentives Incentive Shares unless, within seventy two (72) hours of the submission of the Notice of Intention Intention, the Board adopts a resolution determining that Incentive Shares may not be issued as to the Milestone identified in the Notice of Intention. In the absence of such a disaffirming resolution, Executive may acquire Incentive Shares thereafter by presentation of the Notice of Intention either to the Company or at the office of its stock transfer agent, if any, and accompanied by payment in cash or cash equivalent of the Purchase Price exercise price for the number of Incentive Shares specified in such Notice of Intention, together with all federal and state taxes applicable upon such exercise.

Acquisition of Incentive Shares. Subject to the limitations set forth in this Agreement, the Executive may exercise the option to acquire the Incentive Shares in tranches as set forth as each Milestone is achieved at any time or from time to time on or after the date hereof on which the applicable Milestone is achieved and so long as he is employed by the Company, but not later than 5:00 p.m. New York time, on the Expiration Date, upon notice to the Company at its principal office at 10220-1 Old Columbia Road, Coluxxxx, XX 00000-0000, Xxxxxxxxx: Xxxxxxx X. Xxxk, President xxx Xxxxx Xxxxxxxve Officer (or at such other location as the Company may advise the Executive in writing). The notice shall be executed and delivered with the Purchase Form attached hereto duly filled in and signed and upon payment in cash or cashier's check of the aggregate Purchase Price for the number of shares which Executive is acquiring determined in accordance with the provisions hereof. If such date is a day on which banking institutions are authorized by law to close, then the Expiration Date shall be on the next succeeding day which shall not be such a day. Incentive Shares may be acquired without regard to the sequence in which the Milestones have been achieved. A Notice of Intention to acquire Incentive Shares shall be submitted by the Executive to the Company's Board of Directors, identifying the Milestone achieved and the number of shares covered by the relevant tranche. The Board of Directors shall be deemed to have approved the relevant acquisition of Incentives Incentive Shares unless, within seventy two (72) hours of the submission of the Notice of Intention Intention, the Board adopts a resolution determining that Incentive Shares may not be issued as to the Milestone identified in the Notice of Intention. In the absence of such a disaffirming resolution, Executive may acquire Incentive Shares thereafter by presentation of the Notice of Intention either to the Company or at the office of its stock transfer agent, if any, and accompanied by payment in cash or cash equivalent of the Purchase Price exercise price for the number of Incentive Shares specified in such Notice of Intention, together with all federal and state taxes applicable upon such exercise.

Acquisition of Incentive Shares. Executive may acquire Incentive Shares in tranches as set forth as each Milestone is achieved at any time or from time to time on or after the date hereof and so long as he is employed by the Company, but not later than 5:00 p.m. New York time, on the Expiration Date. If such date is a day on which banking institutions are authorized by law to close, then the Expiration Date shall be on the next succeeding day which shall not be such a day. Incentive Shares may be acquired without regard to the sequence in which the Milestones have been achieved. A Notice of Intention to acquire Incentive Shares shall be submitted by the Executive to the Company's Board of Directors, identifying the Milestone achieved and the number of shares covered by the relevant tranche. The Board of Directors shall be deemed to have approved the relevant acquisition of Incentives Incentive Shares unless, within seventy two (72) hours of the submission of the Notice of Intention Intention, the Board adopts a resolution determining that Incentive Shares may not be issued as to the Milestone identified in the Notice of Intention. In the absence of such a disaffirming resolution, Executive may acquire Incentive Shares thereafter by presentation of the Notice of Intention either to the Company or at the office of its stock transfer agent, if any, and accompanied by payment in cash or cash equivalent of the Purchase Price purchase price for the number of Incentive Shares specified in such Notice of Intention, together with all federal and state taxes applicable upon such exercise.

Acquisition of Incentive Shares. Subject to the limitations set forth in this Agreement, Executive may exercise the option to acquire the Incentive Shares in tranches as set forth as each Milestone is achieved at any time or from time to time on or after the date hereof on which the applicable Milestone is achieved and so long as he is employed by the Company, but not later than 5:00 p.m. New York time, on the Expiration Date, upon which notice to the Company at its principal office at 00000-0 Xxx Xxxxxxxx Xxxx, Xxxxxxxx, XX 00000-0000, Attention: Xxxxxxx X. Xxxx, President and Chief Executive Officer (or at such other location as the Company may advise the Executive in writing). The notice shall be executed and delivered with the Purchase Form attached hereto duly filled in and signed and upon payment in cash or cashier's check of the aggregate Purchase Price for the number of shares which Executive is acquiring determined in accordance with the provisions hereof. If such date is a day on which banking institutions are authorized by law to close, then the Expiration Date shall be on the next succeeding day which shall not be such a day. The option to acquire Incentive Shares may be acquired exercised without regard to the sequence in which the Milestones have been achieved. A Notice of Intention Exercise of the option to acquire Incentive Shares shall be submitted by the Executive to the Company's Board of Directors, identifying the Milestone achieved and the number of shares covered by the relevant tranche. The Board of Directors shall be deemed to have approved the relevant acquisition exercise of Incentives the option to acquire Incentive Shares unless, within seventy two (72) hours of the submission of the Notice of Intention Exercise, the Board adopts a resolution determining that exercise of the option to acquire Incentive Shares may is not be issued agreed as to the Milestone identified in the Notice of IntentionExercise. In the absence of such a disaffirming resolution, Executive may acquire Incentive Shares Common Stock thereafter by presentation of the Notice of Intention Exercise either to the Company or at the office of its stock transfer agent, if any, and accompanied by payment in cash or cash equivalent of the Purchase Price exercise price for the number of Incentive Shares shares of Common Stock specified in such Notice of IntentionExercise, together with all federal and state taxes applicable upon such exercise.