Option Pool. The Company shall establish an option pool of 93,342,669 Ordinary Shares (subject to appropriate adjustment for share splits, share dividends, combinations and the like) reserved for issuances to directors, officers, employees and consultants of the Company pursuant to an equity incentive plan, as amended from time to time, to be approved by the Board of Directors, which shall always include the affirmative votes of both of the Series A Directors and Wu Capital Director . All Ordinary Shares issued after the Closing to employees and other service providers will be subject to vesting as follows (unless different vesting is approved by the Board, which shall always include the affirmative votes of both of the Series A Directors and Wu Capital Director): twenty-five percent (25%) to vest at the end of the first year following such issuance, with the remaining seventy-five percent (75%) to vest annually in thirty-six (36) equal monthly installments over the next three years. If any optionee is permitted to exercise unvested options pursuant to such share incentive plan or the agreement entered into between the Company and such optionee thereunder, the repurchase option shall provide that upon termination of the employment or service of such optionee, with or without cause, the Company or its assignee (to the extent permissible under applicable securities law qualification) retains the option to repurchase at the lesser of cost or fair market value any unvested shares held by such optionee.
Option Pool. Upon or immediately prior to the Closing, the Board of Directors and the shareholders of the Company shall have duly reserved 75,024,529 Class B Ordinary Shares to be issued to the Company’s employees, consultants, officers or directors in accordance with the ESOP.
Option Pool. The Company has reserved for issuance under its stock plan an aggregate number of Ordinary Shares equal to 26,000,000. Of these, 13,607,467 shares are subject to outstanding options to purchase the shares or restricted stock unit awards, 9,063,919 have been issued either pursuant to the exercise of an option, the settlement of a restricted stock unit or as restricted stock, and 3,328,614 shares are available for grant. All equity incentive grants shall require the approval of the Board (with approval of at least one of the Preferred Share Directors).
Option Pool. The Company shall not establish a stock grant, option plan or purchase plan, other employee stock incentive program or agreement that in the aggregate exceeds five percent (5%) of the fully diluted Common Stock of the Company (excluding options and warrants in existence on the Closing Date) on April 5, 1996 (the "Option Pool"). The provisions of this Section 4.13 shall be in addition to, and not in any manner limit, obligations pursuant to any option, warrant, employment agreement or other written obligation, agreement or commitment of the Company or any Operating Subsidiary as of the date of this Agreement (which such obligations shall be disclosed in Schedule 2.5).
Option Pool. Upon or immediately prior to the Closing, the ordinary shares of Mrfresh Cayman previously reserved for the equity incentive plan of Mrfresh Cayman shall have been terminated and cancelled on or prior to Closing.
Option Pool. Upon or immediately prior to the Closing, (x) the Board of Directors and the shareholders of the Company shall have duly reserved and increased additional 7,002,310 Class B Ordinary Shares to the ESOP of the Company, and (y) the ordinary shares of Mrfresh Cayman previously reserved for the equity incentive plan of Mrfresh Cayman shall have been terminated and cancelled on or prior to Closing.
Option Pool. The compensation committee of the Board of Directors will propose a broad based issuance of incentive and retention options to reflect the restructured operations of the Company, which proposal and issuance shall be approved by the Company's Board of Directors. The option pool shall be increased by 3 million or more shares (which may remain unauthorized shares until the next shareholders meeting) as determined by the Company's Board of Directors and approved by its shareholders.
Option Pool. Unless otherwise approved by the Board of Directors (including the approval of the Series A Board Designee), the Company will not increase the number of shares reserved under the Company's equity incentive plan.
Option Pool. The Company agrees to use commercially reasonable efforts to not, for a period of twelve (12) months following the date hereof, increase the number of shares reserved for issuance pursuant to any of its stock option plans, as may be in existence during such period.
Option Pool. Nextera agrees to grant to employees of Lexecon and new hires options to purchase shares of Nextera Class A Stock (the "Employee Options") in accordance with the term sheet attached as Exhibit G hereto. Such options will be issued under Nextera's 1998 Equity Participation Plan (the "1998 Plan"), a copy of which is attached hereto as Exhibit H. Each of Rosexxxxxx, Xxxxxxx xxx Carlxxx xxxll be granted Employee Options having a Black-Scholes value (computed in accordance with such 50 55 term sheet) of $366,666. The allocation of the other Employee Options shall be mutually agreed by Nextera and the Shareholder Representative.
