Common use of Delegation to an Officer Clause in Contracts

Delegation to an Officer. The Board or any Committee may delegate to one or more Officers the authority to do one or both of the following (i) designate Employees who are not Officers to be recipients of Options and SARs (and, to the extent permitted by Applicable Law, other types of Awards) and, to the extent permitted by Applicable Law, the terms thereof, and (ii) determine the number of shares of Common Stock to be subject to such Awards granted to such Employees; provided, however, that the resolutions or charter adopted by the Board or any Committee evidencing such delegation will specify the total number of shares of Common Stock that may be subject to the Awards granted by such Officer and that such Officer may not grant an Award to himself or herself. Any such Awards will be granted on the applicable form of Award Agreement most recently approved for use by the Board or the Committee, unless otherwise provided in the resolutions approving the delegation authority. Notwithstanding anything to the contrary herein, neither the Board nor any Committee may delegate to an Officer who is acting solely in the capacity of an Officer (and not also as a Director) the authority to determine the Fair Market Value.

Appears in 14 contracts

Samples: Merger Agreement (Talaris Therapeutics, Inc.), Merger Agreement (Clearday, Inc.), Merger Agreement (Viveon Health Acquisition Corp.)

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Delegation to an Officer. The Board or any Committee may delegate to one (1) or more Officers the authority to do one (1) or both of the following following: (i) designate Employees who are not Officers to be recipients of Options and SARs (and, to the extent permitted by Applicable Lawapplicable law, other types of Awards) and, to the extent permitted by Applicable Lawapplicable law, the terms thereof, of such Awards and (ii) determine the number of shares of Common Stock Ordinary Shares to be subject to such Awards granted to such Employees; provided, however, that the resolutions or charter adopted by the Board or any Committee evidencing such delegation will specify the total number of shares of Common Stock Ordinary Shares that may be subject to the Awards granted by such Officer and that such Officer may not grant an Award to himself or herself. Any such Awards will be granted on substantially the applicable form of Award Agreement most recently approved for use by the Board Committee or the CommitteeBoard, unless otherwise provided in the resolutions approving the delegation authority. Notwithstanding anything to the contrary herein, neither the Board nor any Committee may delegate authority to an Officer who is acting solely in the capacity of an Officer (and not also as a Director) the authority to determine the Fair Market ValueValue (pursuant to Section 13(x) below).

Appears in 2 contracts

Samples: Business Combination Agreement (TradeUP Global Corp), Business Combination Agreement (TradeUP Global Corp)

Delegation to an Officer. The Board or any Committee may delegate to one (1) or more Officers the authority to do one (1) or both of the following following: (i) designate Employees who are not Officers to be recipients of Options and SARs (and, to the extent permitted by Applicable Lawapplicable law, other types of Awards) and, to the extent permitted by Applicable Lawapplicable law, the terms thereofof such Awards, and (ii) determine the number of shares of Common Stock Ordinary Shares to be subject to such Awards granted to such Employees, and (iii) take any action(s) as may be necessary or required by the Board with respect to swapped equity awards (including without limitation the Swapped Awards); provided, however, that the resolutions or charter adopted by the Board or any Committee evidencing such delegation will specify the total number of shares of Common Stock Ordinary Shares that may be subject to the Awards granted by such Officer and that such Officer may not grant an Award to himself or herself. Any such Awards will be granted on substantially the applicable form of Award Agreement most recently approved for use by the Board Committee or the CommitteeBoard, unless otherwise provided in the resolutions approving the delegation authority. Notwithstanding anything to the contrary herein, neither the Board nor any Committee may delegate authority to an Officer who is acting solely in the capacity of an Officer (and not also as a Director) the authority to determine the Fair Market ValueValue (pursuant to Section 13(y) below).

Appears in 2 contracts

Samples: Business Combination Agreement (Grab Holdings LTD), Business Combination Agreement (Altimeter Growth Corp.)

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Delegation to an Officer. The Subject to compliance with Applicable Law (including, without limitation, Section 152 and Section 157(c) of the Delaware General Corporation Law or any successor thereto), the Board or any Committee may delegate to one or more Officers or other designee the authority to do one or both of the following (i) designate Employees who are not Officers to be recipients of Options and SARs (and, to the extent permitted by Applicable Law, other types of Awards) and, to the extent permitted by Applicable Law, the terms thereof, and (ii) determine the number of shares of Common Stock to be subject to such Awards granted to such Employees; provided, however, that the resolutions or charter adopted by the Board or any Committee evidencing such delegation will specify the total number of shares of Common Stock that may be subject to the Awards granted by such Officer and or other designee, that such Officer or designee may not grant an Award to himself or herself, and such other terms and conditions required by Applicable Law. Any such Awards will be granted on the applicable form of Award Agreement most recently approved for use by the Board or the Committee, unless otherwise provided in the resolutions approving the delegation authority. Notwithstanding anything to the contrary herein, neither the Board nor any Committee may delegate to an Officer who is acting solely in the capacity of an Officer (and not also as a Director) or other designee the authority to determine the Fair Market Value.

Appears in 1 contract

Samples: Business Combination Agreement (Phoenix Biotech Acquisition Corp.)

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