Merit/Stock Exchange Program Sample Clauses

Merit/Stock Exchange Program. (a) Effective as of the Closing Date, MSC shall terminate the participation of the Transferred Employees in the MSC Merit/Stock Exchange Program. MSC shall use its best efforts to obtain the approval of the Board of Directors of MSC to remove any and all restrictions applicable to MSC stock awarded to such employees under such plan and, within thirty (30) days after the Closing Date, shall distribute the stock to such employees under the MSC Merit/Stock Exchange Program. Effective March 1, 2002, Newco shall increase the base salary of each Transferred Employee, who elected under the MSC Merit/Stock Exchange Program to receive MSC restricted stock or options in lieu of his merit increase for the fiscal year beginning March 1, 2001, to the base salary that such Transferred Employee would have received during the fiscal year beginning March 1, 2001 if he had not elected to receive MSC restricted stock or options in lieu of such merit increase. If the MSC Board fails to remove any and all restrictions applicable to such Transferred employee pursuant to this Section 8.3.5, MSC/SFI shall pay to the respective Transferred Employee an amount in cash equal to the fair market value of the stock of MSC as designated for the closing price on June 29, 2001, multiplied by the number of shares each holder of the Restricted Stock Award would have received had the restrictions been removed. This amount net of applicable payroll taxes shall be distributed within 30 days .
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Related to Merit/Stock Exchange Program

  • Nasdaq Stock Market The Public Securities have been authorized for listing, subject to official notice of issuance and evidence of satisfactory distribution, on The Nasdaq Stock Market (the “Nasdaq”), and the Company knows of no reason or set of facts that is likely to adversely affect such authorization.

  • New York Stock Exchange Listing Application has been made, and the Securities shall have been listed and admitted and authorized for trading, subject to official notice of issuance, on the New York Stock Exchange so that trading on such exchange will begin within 30 days after the date of this Agreement.

  • Stock Exchange Listing The shares of Common Stock have been approved for listing on the NASDAQ Capital Market (the “Exchange”), and the Company has taken no action designed to, or likely to have the effect of, delisting the shares of Common Stock from the Exchange, nor has the Company received any notification that the Exchange is contemplating terminating such listing except as described in the Registration Statement, the Pricing Disclosure Package and the Prospectus.

  • Nasdaq Until the consummation of a Business Combination, the Company will use its best efforts to maintain the listing of the Public Securities on Nasdaq or a national securities exchange acceptable to the Representative.

  • Stock Exchange Listings Parent shall use all reasonable efforts to list on the NYSE, upon official notice of issuance, the Paired Shares to be issued in connection with the Merger.

  • Obtaining Stock Exchange Listings The Company will from time to time take all commercially reasonable actions which may be necessary so that the Warrant Shares, immediately upon their issuance upon the exercise of Warrants, will be listed on the principal securities exchanges and markets within the United States of America, if any, on which other shares of Common Stock are then listed.

  • Stock Exchange De-listing Prior to the Closing Date, the Company shall cooperate with Parent and use reasonable best efforts to take, or cause to be taken, all actions, and do or cause to be done all things, reasonably necessary, proper or advisable on its part under applicable Laws and rules and policies of the NYSE to enable the delisting by the Surviving Corporation of the Shares from the NYSE and the deregistration of the Shares under the Exchange Act as promptly as practicable after the Effective Time.

  • New York Stock Exchange The Securities shall be duly listed, subject to notice of issuance, on the New York Stock Exchange, satisfactory evidence of which shall have been provided to the Representative.

  • The Nasdaq Global Market By the Effective Date, the Securities shall have been approved for trading on the Nasdaq Global Market.

  • Stock Exchange Delisting; Deregistration Prior to the Closing Date, the Company shall cooperate with Parent and use its reasonable best efforts to take, or cause to be taken, all actions, and do or cause to be done all things, reasonably necessary, proper or advisable on its part under applicable laws and rules and policies of NASDAQ to enable the delisting by the Surviving Corporation of the Shares from NASDAQ and the deregistration of the Shares under the Exchange Act as promptly as practicable after the Effective Time.

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