Limitations on Nonstatutory Stock Options and SARs. Nonstatutory Stock Options and SARs may not be granted to Employees, Directors and Consultants who are providing Continuous Service only to any “parent” of the Company (as such term is defined in Rule 405) unless the stock underlying such Awards is treated as “service recipient stock” under Section 409A because the Awards are granted pursuant to a corporate transaction (such as a spin off transaction) or unless such Awards otherwise comply with the distribution requirements of Section 409A.
Appears in 8 contracts
Samples: Business Combination Agreement (Phoenix Biotech Acquisition Corp.), Merger Agreement (Vickers Vantage Corp. I), Merger Agreement (Supernova Partners Acquisition Co II, Ltd.)
Limitations on Nonstatutory Stock Options and SARs. Nonstatutory Stock Options and SARs may not be granted to Employees, Directors and Consultants who are providing Continuous Service only to any “parent” of the Company (as such term is defined in Rule 405) unless the stock underlying such Awards is treated as “service recipient stock” under Section 409A because the Awards are granted pursuant to a corporate transaction (such as a spin off transaction) or unless such Awards otherwise comply with the distribution requirements of Section 409A.
Appears in 7 contracts
Samples: Merger Agreement (Talaris Therapeutics, Inc.), Merger Agreement (Clearday, Inc.), Merger Agreement (Viveon Health Acquisition Corp.)
