Equity Stake Sample Clauses

Equity Stake. Boxlot shall grant to theglobe, pursuant to industry- standard terms negotiated between the parties in good faith, immediately vested options to purchase shares of common stock equal to up to 4% of Boxlot's fully diluted capital stock (in accordance with the chart below). Theglobe shall be restricted from exercising such options until the first anniversary of the Effective Date, and such options shall have a five-year term. Each such option shall have an exercise price equal to the lesser of (1) the price at which Boxlot's common stock is sold to the public in an initial public offering or (2) $6 per share; each of the foregoing as may be adjusted for any stock splits, combinations or re-organizations affecting Boxlot's capital stock. Boxlot shall grant to theglobe registration rights for such options and any shares of common stock issued or issuable upon the exercise of such options (including without limitation, two demand registration rights and unlimited piggyback registration rights) on Form X-0, Xxxx X-0 or such other form as may be applicable pursuant to the Securities Act of 1933 as amended. ------------------------------------------------------------------------------------------------------------------ Number of aggregate unique users, as measured by Aggregate percent of Boxlot's equity subject to the unique IP addresses, in a month who visit a page options upon achieving such level once under the Domain Name ------------------------------------------------------------------------------------------------------------------ 500,000 1% ------------------------------------------------------------------------------------------------------------------ 1,000,000 2% ------------------------------------------------------------------------------------------------------------------ 1,500,000 3% ------------------------------------------------------------------------------------------------------------------ 1,750,000 3.5% ------------------------------------------------------------------------------------------------------------------ 2,000,000 4% ------------------------------------------------------------------------------------------------------------------ XXXXXXXX.XXX, INC.: THE BOXLOT COMPANY: By: /s/ Xxxx Xxxxxxx By: /s/ Xxxxxxxxx Xxxx Name: Xxxx Xxxxxxx Name: Xxxxxxxxx Xxxx Title: COO Title: CEO EXHIBIT A BUSINESS TERMS Description of the Service: person-to-person auctions Description of Boxlot Content: *** Domain Name for the Co-Branded Pages: xxxx...
Sample 1Sample 2
AutoNDA by SimpleDocs
Equity Stake. A. Within ten (10) days of the Start Date, the Company will grant Executive an option to purchase seventy-two million (72,000,000) shares of the Company’s stock (which is equal to eight percent (8%) of the Company’s issued and outstanding shares).
Sample 1Sample 2
Equity Stake. Concurrent with execution of this Agreement, Quintiles shall execute a Stock Purchase Agreement to purchase five million dollars ($5,000,000) of CVT common stock on the terms and conditions as set forth therein ("Stock Purchase Agreement"). The terms and conditions of such equity purchase, and the covenants of each Party related thereto, shall be governed solely by the Stock Purchase Agreement and the related documents executed pursuant thereto.
Sample 1Sample 2
Equity Stake. The Board has approved the issuance to Hammxxx xx an option to purchase a total of 250,000 shares of the Company's common stock (the "Options") in accordance with Company's Stock Option Plan (the "Plan"). The Plan provides that fifty (50) percent of the options vest on May 8, 1999 and the remaining fifty (50) percent of the options vest on May 7, 2000. Upon the execution of this Agreement the Options shall be amended to provide that in the event of a Change of Control of the Company, all of the options issued pursuant to the Options shall become fully vested as of the date of the Change of Control. In the event of Hammxxx'x death all Options shall become fully vested as of that date, and ownership shall be held by Hammxxx'x xxxeficiary. On December 31, 1999 the Board granted an additional 250,000 options which will vest over a 3-year period based upon performance milestones set and agreed upon by the Compensation Committee of the Board and Hammxxx.
Sample 1
Equity Stake. Sky Guys’ Equity Stake shall be subject to the terms and conditions set forth in a unanimous shareholders agreement that shall be mutually negotiated and agreed upon by both of the parties hereto acting reasonably. Should the Licensee seek to sell a controlling interest in the Licensee to a third party or to sell substantially all of the assets of the Licensee to a third party, the Licensee shall pay the greater of the current Equity Stake or twenty percent (20%) of the purchase price to Sky Guys in full payment of the Equity Stake. Should the Licensee choose not to renew this Agreement at the end of the Term, the full amount of the current Equity Stake shall become immediately due and payable to Sky Guys, unless the non-renewal follows at least one renewal term, whereupon the Equity Stake shall be reduced by twenty-five percent (25%). Should the Licensee default or otherwise breach this Agreement, an amount equal to one hundred and fifty percent (150%) of the current Equity Stake shall become immediately due and payable to Sky Guys, together with such other and further remedies and damages available to Sky Guys at law and the continuance of all other obligations due and owing to Sky Guys, including but without limiting the restrictive covenants contemplated herein.
Sample 1
Equity Stake. The Board has previously approved the issuance to Xxxxxx of two separate options to purchase a total of 520,000 shares of the Company's common stock (the "Options") in accordance with the Company's Stock Option Plan (the "Plan"). The Plan provides that fifty percent of the options vest upon the completion of one year's service and the remaining fifty percent of the options vest upon the completion of the second year service. However, in the event that the Company files for bankruptcy protection pursuant to the United States Bankruptcy Code, the parties have agreed that all of the options issued pursuant to the Option shall become fully vested as of the date the Company files its Petition for Bankruptcy Protection. The Options shall be further amended to provide that in the event of a Change of Control of the Company, all of the options issued pursuant to the Options shall become fully vested as of the date of the Change in Control. A "Change in Control" is defined herein as a transaction or a series of related transactions resulting in the sale of all or substantially all of the Company's assets or a merger or consolidation, or sale or transfer of securities, which results in any entity which does not currently hold any of the outstanding voting securities of the Company (as determined immediately prior to such merger or consolidation or sale or transfer of stock) owning, directly or indirectly, thirty-three percent or more of the beneficial interest in the outstanding voting securities of the Company or the surviving corporation that controls the Company or of such surviving corporation's parent corporation (determined immediately after such merger or consolidation or sale or transfer of stock). Except as otherwise provided herein, the Option shall be subject to the terms and conditions of the Company's stock option plan and the Company's standard form of stock option agreement, as amended in accordance with this Agreement, which Xxxxxx shall be required to sign as a condition to receiving the Options as provided herein.
Sample 1
Equity Stake. The Company will recommend that its Board approve the issuance to Xxxxxx of options to purchase 400,000 shares of the Company's common stock (the "Option") in accordance with the Company's Stock Option Plan (the "Plan"). The Plan provides that fifty percent of options vest upon the completion of one year's service and the remaining fifty percent of options vest upon the completion of the second year's service. However, in the event that the Company files for bankruptcy protection pursuant to the United States Bankruptcy Code, the parties agree that all of the options issued pursuant to the Option shall become fully vested as of the date the Company files its Petition for Bankruptcy Protection. Except as otherwise provided herein, the Option shall be subject to the terms and conditions of the Company's stock option plan and the Company's standard form of stock option agreement, which Xxxxxx shall be required to sign as a condition of the issuance of the Initial Stock Option.
Sample 1
AutoNDA by SimpleDocs
Equity Stake. The Board has approved the issuance to Burnxx xx an option to purchase a total of 500,000 shares of the Company's common stock (the "Options") in accordance with Company's Stock Option Plan (the "Plan"). The Plan provides that fifty (50) percent of the options vest on May 8, 1999 and the remaining fifty (50) percent of the options vest on May 7, 2000. Upon the execution of this Agreement the Options shall be amended to provide that in the event of a Change of Control of the Company, all of the options issued pursuant to the Options shall become fully vested as of the date of the Change of Control. In the event of Burnxx'x xxxth all Options shall become fully vested as of that date, and ownership shall be held by Burnxx'x beneficiary. On December 31, 1999 the Board granted an additional 500,000 options which will vest over a 3 year period based upon performance milestones set and agreed upon by the Compensation Committee of the Board and Burnxx.
Sample 1
Equity Stake. The Board has approved the issuance to Scotx xx an option to purchase a total of 125,000 shares of the Company's common stock (the "Options") in accordance with Company's Stock Option Plan (the "Plan"). The Plan provides that fifty (50) percent of the options vest on November 6, 1999 and the remaining fifty (50) percent of the options vest on
Sample 1

Related to Equity Stake

  • Equity Ownership; Subsidiaries All issued and outstanding Capital Securities of each Loan Party are duly authorized and validly issued, fully paid, non-assessable, and (except with respect to the Company) free and clear of all Liens, and such securities were issued in compliance with all applicable state and federal laws concerning the issuance of securities. Schedule 9.8 sets forth the authorized Capital Securities of each Loan Party as of the Closing Date. All of the issued and outstanding Capital Securities of each Wholly-Owned Subsidiary is, directly or indirectly, owned by the Company and is set forth on Schedule 9.8. Except for certain Dormant Entities, the Company has no Subsidiaries that are not Wholly-Owned Subsidiaries. As of the Closing Date, except as set forth on Schedule 9.8, there are no pre-emptive or other outstanding rights, options, warrants, conversion rights or other similar agreements or understandings for the purchase or acquisition of any Capital Securities of any Loan Party.

  • Equity Ownership All issued and outstanding Capital Securities of the Borrower and each of its Subsidiaries are duly authorized and validly issued, fully paid, non-assessable, and free and clear of all Liens other than those in favor of the Bank, if any. As of the date hereof, there are no pre-emptive or other outstanding rights, options, warrants, conversion rights or other similar agreements or understandings for the purchase or acquisition of any Capital Securities of the Borrower and each of its Subsidiaries.

  • Competing Interests Neither the Selling Persons, nor any director, manager, officer or management-level employee of Sellers, nor any Affiliate of the Selling Persons (each, a “Related Party”): (a) owns, directly or indirectly, an interest in any Person that is a competitor, customer or supplier of Sellers (in respect of the Business) or that otherwise has material business dealings with Sellers (in respect of the Business); or (b) is a party to, or otherwise has any direct or indirect interest opposed to Sellers under, any Business Contract or other business relationship or arrangement.

  • Ownership; Subsidiaries All Equity Interests in the Credit Parties are owned as set forth in Schedule 4.6. Borrower has no Subsidiaries other than as set forth in Schedule 4.6. Except as has been disclosed to the Lender in Schedule 4.6, there are no outstanding subscription agreements, membership interest or share purchase agreements, warrants, or options for any Equity Interests in Borrower. Allseas and Phoenix are, directly or indirectly, wholly-owned subsidiaries of Holding Company and Affiliates of Borrower.

  • Competitor “Competitor” means any person, firm, business or other organization or entity that designs, develops, produces, offers for sale or sells products that are in competition with the products of the Company or an Affiliate as designed, developed, produced, offered for sale or sold by the Company or an Affiliate at the time of Executive’s Separation from Service.

  • Transfer to Affiliates For the avoidance of doubt, transfer of employment among the Company and any of its Affiliates shall not constitute a termination of employment for purposes of this Award.

  • Affiliated Entities As used in this Agreement, "Company" shall include the Company and each corporation, limited liability company, partnership, or other entity that is controlled by the Company, or is under common control with the Company (in each case "control" meaning the direct or indirect ownership of 50% or more of all outstanding equity interests), provided, however, that the Executive's title need not be identical for each of the affiliated entities nor the same as that for the Company.

  • Company Subsidiaries; Equity Interests (a) The Company Disclosure Letter lists each Company Subsidiary and its jurisdiction of organization. Except as specified in the Company Disclosure Letter, all the outstanding shares of capital stock or equity investments of each Company Subsidiary have been validly issued and are fully paid and nonassessable and are as of the date of this Agreement owned by the Company, by another Company Subsidiary or by the Company and another Company Subsidiary, free and clear of all Liens.

  • Voting Stock Stock or similar interests, of any class or classes (however designated), the holders of which are at the time entitled, as such holders, to vote for the election of a majority of the directors (or persons performing similar functions) of the corporation, association, trust or other business entity involved, whether or not the right so to vote exists by reason of the happening of a contingency.

  • Capitalization; Ownership Section 3.2 of the Disclosure Schedule sets forth (a) the name and jurisdiction of incorporation or organization of each Acquired Company, (b) the authorized and outstanding capital stock or other ownership interests of each Acquired Company, and (c) the beneficial and holder of record of all of the outstanding shares, membership interests or other equity interests of each Acquired Company. Each such holder owns such shares, membership interests or other equity securities, in each case, free and clear of any Lien or any other restriction on the right to vote, sell or otherwise dispose of such shares, membership interests or other equity interests (other than restrictions under federal, state and foreign securities laws). All of the issued and outstanding shares of capital stock, membership interests or other equity interests of each Acquired Company have been duly authorized, and are validly issued, fully paid and nonassessable, and have not been issued in violation of any Organizational Document of any Acquired Company, applicable Law, preemptive rights, rights of first refusal or similar rights. There are no authorized or outstanding shares of capital stock, membership interests or other equity interests of any Acquired Company, or securities convertible into or exchangeable for such shares, membership interests or equity interests, and no options, warrants, rights, agreements or commitments to which any Acquired Company is a party or which are binding upon such Acquired Company providing for the issuance or redemption of any shares of such Acquired Company’s capital stock, membership interests or other equity interests, or securities convertible into or exchangeable for such shares, membership interests or equity interests. There are no outstanding or authorized equity appreciation, phantom equity, profit participation or similar rights with respect to any Acquired Company. There are no voting trusts, proxies or other Contracts with respect to the voting of the shares, membership interests or other equity interests of any Acquired Company or other Contracts regarding the equity of any Acquired Company with any third parties. Except as set forth on Section 3.2 of the Disclosure Schedule, no Acquired Company has any Subsidiaries or owns any equity interests or capital stock of any other Person. Upon consummation of the Transactions, Buyer will be, directly or indirectly, the sole owner, beneficially and of record, of all of the issued and outstanding capital stock, shares, membership interests or other equity interests of the Acquired Companies, free and clear of all Liens (other than Liens created by Buyer in connection with the Debt Financing).

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