Establishment of Newco Equity Plan. As of or prior to the Effective Time, Newco shall adopt an omnibus equity compensation plan (the “Newco Equity Plan”) pursuant to which equity awards may be granted to Newco Group Employees. Vornado and Newco shall take all actions as may be necessary or advisable to adopt and obtain approval of the Newco Equity Plan (and the awards in respect of Newco Common Shares thereunder) in order to satisfy the requirement of Rule 16b-3 under the Exchange Act, and the applicable rules and regulations of any applicable exchange on which Newco Common Shares will be traded. The Newco Equity Plan shall be approved prior to the Effective Time by Vornado as Newco’s sole shareholder.
Appears in 3 contracts
Samples: Employee Matters Agreement (JBG SMITH Properties), Employee Matters Agreement (JBG SMITH Properties), Employee Matters Agreement
Establishment of Newco Equity Plan. As of or prior to the Effective Time, Newco shall adopt an omnibus equity compensation plan (the “Newco Equity Plan”) pursuant to which equity awards may be granted to Newco Group Employees. Vornado and Newco shall take all actions as may be necessary or advisable to adopt and obtain approval of the Newco Equity Plan (and the awards in respect of Newco Common Shares thereunder) in order to satisfy the requirement of Rule 16b-3 under the Exchange Act, and the applicable rules and regulations of any applicable exchange on which Newco Common Shares will be traded. The Newco Equity Plan shall be approved prior to the Effective Time by Vornado VRLP as Newco’s sole shareholder.
Appears in 3 contracts
Samples: Contribution and Assignment Agreement (JBG SMITH Properties), Contribution and Assignment Agreement (Vornado Realty Lp), Employee Matters Agreement (JBG SMITH Properties)
