Common use of Initial Stock Clause in Contracts

Initial Stock. As soon as practical after the Commencement Date (the “Grant Date”), the Company shall grant to the Executive, Restricted Share Units equivalent to Class A Ordinary Shares (the “Restricted Shares”) to purchase 294,240 shares of the issued and outstanding ordinary shares of the Company. The Restricted Shares shall be issued in accordance with, and subject to the terms and conditions of the Restricted Shares Agreement, as amended (the “Equity Incentive Plan”). For purposes of this Agreement, a “Change in Control” will be deemed to have occurred if any person, or group of persons acting together, acquires in any transaction or related series of transactions (i) all or substantially all of the assets of the Company; or (ii) a sufficient number of shares of voting securities of the Company to cause the person, or group of persons, to own beneficially, directly or indirectly, as of the time immediately after the transaction or series of transactions, fifty percent (50%) or more of the outstanding voting securities of the Company (other than as a result of (i) an acquisition of voting securities directly from the Company or (ii) an acquisition of voting securities by the Company which by reducing the voting securities outstanding increases the proportionate voting power represented by the voting securities owned by any such person or group of persons to 50% or more of the combined voting power of such voting securities), if such person, or group of persons, owned beneficially, directly and indirectly, less than fifty percent (50%) of such outstanding voting securities immediately preceding the transaction or series of transactions.