Management Options Sample Clauses
The "Management Options" clause defines the rights and procedures available to parties for overseeing, directing, or modifying the management of a project, asset, or contractual relationship. This clause typically outlines who has authority to make management decisions, the process for implementing changes, and any limitations or conditions on such actions. For example, it may specify how a party can appoint or remove managers, or what steps must be taken to alter management strategies. Its core practical function is to provide a clear framework for managing responsibilities and decision-making, thereby reducing disputes and ensuring effective oversight.
Management Options. The parties agree that options to purchase ------------------ up to an aggregate number of Shares that equals 5% of the authorized share capital of the Company immediately after the "First Closing" under the Subscription Agreement (taking into account the amendments to the Memorandum and Articles of Association of the Company contemplated by the Subscription Agreement) at a price per Share to be agreed-to by the Board may be issued upon the unanimous decision of the Board to members of senior management of the Company pursuant to a management stock option plan to be adopted by the Board (the "Management Options").
Management Options. On or after the Effective Date, the New Board will support the implementation of a stock-based management incentive plan which will provide for distributions not exceeding 10%, in the aggregate, on a fully-diluted basis.
Management Options. The Stockholders may grant to any or all of the employees of or consultants to, Video or IPL or their respective subsidiaries immediately prior to the Merger, options (the "Management Options") to purchase up to 721,529 Shares (including the grants contemplated in Section 4 below). and may sell the Shares underlying the Management Options to the holders of the Management Options upon the exercise thereof; provided, however, that any such grant shall be and may be, made in accordance with Section 7.7 of the Merger Agreement or pursuant to Section 4 below.
Management Options. ▇▇▇▇▇▇ shall cause BDPH, acting through its Board of Directors or a duly authorized committee thereof, to take all required action under the 1996 Stock Purchase and Option Plan of BDPH (the "Option Plan") and the outstanding options thereunder so that, at the Closing, all such options shall be cancelled (unless otherwise agreed prior to Closing with respect to a specific holder or specific holders among MergerCo, ▇▇▇▇▇▇ and each such holder). At or prior to the Closing, the Option Plan will be terminated and no further stock awards, stock options or stock appreciation rights will be granted thereunder subsequent to the Closing Date.
Management Options. A management stock option program for approximately 10% of the equity in Parent will have been implemented pursuant to Non-Qualified Stock Option Agreements substantially in the form of Exhibit 4.2(d) hereto.
Management Options. On the Closing Date, Purchaser shall grant to T▇▇ ▇▇▇▇▇▇ and C▇▇▇▇ ▇▇▇▇▇ options for each of them to purchase 100,000 shares of Purchaser’s common stock at a purchase price equal to the closing price of Purchaser’s common stock on the Nasdaq National Market (or successor market or exchange on which the Company’s common stock is listed) on the date of grant pursuant to Purchaser’s 1997 Incentive Stock Plan, which options shall vest on the second anniversary of the Closing Date if at such time the grantee of such options remains employed by Purchaser on such date.
Management Options. Holdco One will grant to mutually agreed upon management employees of the Companies shortly after the closing options which will represent 1% of the fully diluted and outstanding common stock of Holdco One calculated as of the Closing.
Management Options. Company has granted options to certain ------------------ members of Company's management to acquire HGT Units and TPT Units. The Borrowing Base shall not be reduced upon the issuance of options to members of Company's management to acquire HGT Units and/or TPT Units. If members of Company's management exercise their options to acquire HGT Units and/or TPT Units (such units acquired by Company's management upon exercising such options are herein called "Option Units"), the Borrowing Base shall be reduced by an amount that is the product of (a) the entire Borrowing Base value assigned to the Mineral Properties respecting the Hugoton Royalty Trust or The Texas Permian Royalty Trust for which the Option Units were exercised (as the case may be) times (b) a percentage, (i) the numerator of ----- which is the number Option Units respecting the Hugoton Royalty Trust or the Texas Permian Royalty Trust for which the Option Units were exercised by Company's management (as the case may be) and (ii) the denominator of which is the number of all issued and outstanding units respecting the Hugoton Royalty Trust or the Texas Permian Royalty Trust for which the Option Units were exercised (as the case may be); provided, however, that there shall be no such reduction to the Borrowing Base on account of the issuance of Option Units during any 12-month period for the initial $3,000,000 in Borrowing Base value for such Option Units issued during such 12-month period (as determined by the calculation set forth above).
Management Options. Options to purchase Common Stock issued to or to be issued to employees of the Company and/or its Subsidiaries to purchase up to 592,189 shares in the aggregate of the Common Stock on a fully diluted basis pursuant to a stock option or benefit plan described in Section 4.04(m) of this Agreement adopted by the Company and approved by a majority of the disinterested members of the Company’s board of directors. MassMutual Investors. This term is defined in the preamble of this Agreement.
Management Options. 14.1 The Company shall have such number of Shares reserved for allotment or issue (the “Reserved Shares”) not exceeding 12% of the then issued Shares, on an all as-if-converted basis, for granting of any Management Options in favour of any Key Employees.
14.2 The Management Options may be granted by the Board from time to time to any Key Employees upon terms and subject to conditions as determined by the Board at its discretion and all Management Options shall be subject to annually vesting stipulation for a period of not less than three (3) years.
14.3 Any holder of the Management Options or any rights thereof will be required to execute stock restriction agreements with the Company to be approved by the Board providing for certain restrictions on transfer and for the first refusal of the Shareholders and assumption of the rights and obligations of a Shareholder under this Agreement.