Common use of Establishment and Purpose Clause in Contracts

Establishment and Purpose. The Plan was adopted by the Board of Directors on May 6, 2020, became effective on June 3, 2020 (the “Effective Date”), was amended on April 22, 2021, was amended on April 12, 2023, and was further amended on April 24, 2024. The Plan’s purpose is to attract, retain, incent and reward top talent through stock ownership to improve operating and financial performance and strengthen the mutuality of interest between eligible service providers and stockholders.

Appears in 2 contracts

Samples: 2020 Stock Incentive Plan (Nikola Corp), 2020 Stock Incentive Plan (Nikola Corp)

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Establishment and Purpose. The Plan was adopted by the Board of Directors on May 6, 2020, became 2020 and is effective on June 3, 2020 (the “Effective Date”), was amended on April 22, 2021, was amended on April 12, 2023, and was further amended on April 24, 2024. The Plan’s purpose is to attract, retain, incent and reward top talent through stock ownership to improve operating and financial performance and strengthen the mutuality of interest between eligible service providers and stockholders.

Appears in 1 contract

Samples: 2020 Stock Incentive Plan (Nikola Corp)

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Establishment and Purpose. The Plan was adopted by the Board of Directors on May 6, 2020, became effective on June 3, 2020 (the “Effective Date”), was amended on April 22, 2021, 2021 and was further amended on April 12, 2023, and was further amended on April 24, 2024. The Plan’s purpose is to attract, retain, incent and reward top talent through stock ownership to improve operating and financial performance and strengthen the mutuality of interest between eligible service providers and stockholders.

Appears in 1 contract

Samples: 2020 Stock Incentive Plan (Nikola Corp)

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