Common use of Current Everest Capitalization Clause in Contracts

Current Everest Capitalization. As at the date of this Agreement and, (unless otherwise approved in advance and in writing by the Parent or as contemplated by this Agreement, immediately prior to the Closing Date), Everest is authorized by its Articles of Incorporation to issue a total of 100,000,000 ordinary shares of which: (i) an aggregate of 33,000,000 Everest ordinary or common shares are issued and outstanding (the “Existing Everest Shares”), (ii) K Laser is the record and beneficial owner of 35.66% of the Existing Everest Shares, (iii) the Subject Shares represent 82.3% of the total issued and outstanding Existing Everest Shares, provided, that, prior to the Closing, such percentage may be increased upon the addition of any Participating Minority Shareholders executing this Agreement, and, (iv) the remaining 5,839,513 issued and outstanding Existing Everest Shares (the “Minority Everest Shares”) are owned of record by the Everest shareholders, other than the Majority Shareholders (the “Minority Everest Shareholders”).