Common use of Allocation of Shares to Plan Clause in Contracts

Allocation of Shares to Plan. The maximum aggregate number of Shares that may be issued under the Plan is: (i) 5,300,000 Shares, plus (ii) any Shares subject to stock options or other awards that are assumed as part of the Transactions (“Assumed Awards”) and that, on or after the Closing Date, expire or otherwise terminate without having been exercised in full, are tendered to or withheld by the Company for payment of an exercise price or for tax withholding obligations, or are forfeited to or repurchased by the Company due to failure to vest, with the maximum number of Shares to be added to the Plan under this clause (ii) equal to [●] Shares], plus (iii) any additional Shares that become available for issuance under the Plan under Sections 3(b) and 3(c). The Shares may be authorized but unissued Common Stock or Common Stock issued and then reacquired by the Company.

Appears in 6 contracts

Samples: Business Combination Agreement (Digital Transformation Opportunities Corp.), Business Combination Agreement (Digital Transformation Opportunities Corp.), Business Combination Agreement (Digital Transformation Opportunities Corp.)

AutoNDA by SimpleDocs

Allocation of Shares to Plan. The maximum aggregate number of Shares that may be issued under the Plan is: (i) 5,300,000 Shares, plus plus [(ii) any Shares subject to stock options or other awards that are assumed as part of the Transactions (“Assumed Awards”) and that, on or after the Closing Date, expire or otherwise terminate without having been exercised in full, are tendered to or withheld by the Company for payment of an exercise price or for tax withholding obligations, or are forfeited to or repurchased by the Company due to failure to vest, with the maximum number of Shares to be added to the Plan under this clause (ii) equal to [●[ ] Shares], plus (iii) any additional Shares that become available for issuance under the Plan under Sections 3(b) and 3(c). The Shares may be authorized but unissued Common Stock or Common Stock issued and then reacquired by the Company.

Appears in 3 contracts

Samples: Business Combination Agreement (Digital Transformation Opportunities Corp.), Business Combination Agreement (Digital Transformation Opportunities Corp.), Business Combination Agreement (Digital Transformation Opportunities Corp.)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!