Secondary Offering Reduction. If a registration in which the Executive has the right to participate pursuant to this Section 16 is an underwritten secondary registration, and the managing underwriters advise the Company in writing that in their opinion the number of shares requested to be included in such registration exceeds the number of shares which can be sold in such offering, then the Company shall include in such offering the number of shares of Common Stock owned and proposed to be sold by the Company and by any other participants (including the Executive) proposing (and entitled) to sell shares pursuant to such registration which the underwriters advise the Company can be sold in the offering, in proportion to the number of shares of Common Stock so requested by each of them to be included.
Appears in 6 contracts
Samples: Employment Agreement (El Banco Financial Corp), Employment Agreement (El Banco Financial Corp), Employment Agreement (El Banco Financial Corp)
Secondary Offering Reduction. If a registration in which the Executive has the right to participate pursuant to this Section 16 17 is an underwritten secondary registration, and the managing underwriters advise the Company in writing that in their opinion the number of shares requested to be included in such registration exceeds the number of shares which can be sold in such offering, then the Company shall include in such offering the number of shares of Common Stock owned and proposed to be sold by the Company and by any other participants (including the Executive) proposing (and entitled) to sell shares pursuant to such registration which the underwriters advise the Company can be sold in the offering, in proportion to the number of shares of Common Stock so requested by each of them to be included.
Appears in 3 contracts
Samples: Employment Agreement (Banc Corp), Employment Agreement (Banc Corp), Employment Agreement (Banc Corp)
Secondary Offering Reduction. If a registration in which the Executive has the right to participate pursuant to this Section 16 17 is an underwritten secondary registration, and the managing underwriters advise the Company in writing that in their opinion the number of shares requested to be included in such registration exceeds the number of shares which can be sold in such offering, then the Company shall include in such offering the number of shares of Common Stock owned and proposed to be sold by the Company and by any other participants (including the other Executive) proposing (and entitled) to sell shares pursuant to such registration which the underwriters advise the Company can be sold in the offering, in proportion to the number of shares of Common Stock so requested by each of them to be included.
Appears in 1 contract
