Initial Lock-Up Period. Stockholder shall not during the period commencing upon the Effective Time and ending on the first anniversary of the filing of the Post-Merger 8-K with the SEC or such earlier period as may be determined by Public Company Board pursuant to Section 4 below (the “Initial Lock-Up Period”), Transfer any shares of Public Company Common Stock received in exchange for his Merger Partner Shares pursuant to the Merger. During each of the three years following the Initial Lock-Up Period, Stockholder shall not Transfer more than one-third of the aggregate number of shares of Public Company Common Stock received in exchange for his Merger Partner Shares.
Appears in 6 contracts
Samples: Stockholder Agreement (Pernix Therapeutics Holdings, Inc.), Stockholder Agreement (Pernix Therapeutics Holdings, Inc.), Stockholder Agreement (Pernix Therapeutics Holdings, Inc.)
