Common use of Net Issuance Clause in Contracts

Net Issuance. Xxxxxxx shall be entitled to the customary Company benefit allowing for the “net issuance” by the Company of Common Stock underlying the Options or RSUs or Common Stock comprising the LTIP Stock in order to provide Xxxxxxx the opportunity (on his own or through the Company) to sell shares of Common Stock, the proceeds of which will be utilized to pay Vasisht’s federal, state or local income or withholding tax liability.

Appears in 2 contracts

Samples: Retirement Agreement, Retirement Agreement (Biodelivery Sciences International Inc)

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Net Issuance. Xxxxxxx Xxxx shall be entitled to the customary Company benefit allowing for the “net issuance” by the Company of Common Stock underlying the Options or RSUs or Common Stock comprising the LTIP Stock Stock, the Equity Bonus or the 2015 Shares in order to provide Xxxxxxx Xxxx the opportunity (on his own or through the Company) to sell shares of Common Stock, the proceeds of which will be utilized to pay Vasisht’s Xxxx’x federal, state or local income or withholding tax liability.

Appears in 1 contract

Samples: Retirement Agreement (Biodelivery Sciences International Inc)

Net Issuance. Xxxxxxx Xxxxx shall be entitled to the customary Company benefit allowing for the “net issuance” by the Company of Common Stock underlying the Options or RSUs or Common Stock comprising the LTIP Stock in order to provide Xxxxxxx Xxxxx the opportunity (on his own or through the Company) to sell shares of Common Stock, the proceeds of which will be utilized to pay Vasisht’s Xxxxx’x federal, state or local income or withholding tax liability.

Appears in 1 contract

Samples: Retirement Agreement (Biodelivery Sciences International Inc)

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Net Issuance. Xxxxxxx Xxxxx shall be entitled to the customary Company benefit allowing for the “net issuance” by the Company of Common Stock underlying the Options or RSUs or Common Stock comprising the LTIP Stock in order to provide Xxxxxxx Xxxxx the opportunity (on his own or through the Company) to sell shares of Common Stock, the proceeds of which will be utilized to pay Vasisht’s Xxxxx’x federal, state or local income or withholding tax liability.. EXECUTION VERSION

Appears in 1 contract

Samples: Retirement Agreement

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