SHARE PURCHASE PLAN Clause Samples
The Share Purchase Plan clause outlines the terms under which eligible participants, typically employees or existing shareholders, can purchase additional shares in a company, often at a preferential price or under special conditions. This clause details eligibility criteria, purchase limits, application procedures, and the timeframe during which shares can be acquired. Its core practical function is to facilitate broader ownership of company shares, incentivize participation, and potentially raise additional capital for the company while ensuring transparency and fairness in the allocation process.
SHARE PURCHASE PLAN. As of March 1, 1985, employees can participate in share purchase plan.
SHARE PURCHASE PLAN. The Share Purchase Plan of Kinross is administered by the Compensation Committee and forms part of Kinross' Share Incentive Plan. The Share Purchase Plan is designed to advance the interests of Kinross through the motivation, attraction and retention of employees of Kinross and to secure for Kinross and its shareholders the benefits inherent in the ownership of Common Shares by employees of Kinross. Employees, including officers, of Kinross are entitled to contribute up to 10% of their annual basic salary to the Share Purchase Plan. Kinross matches the participant's contribution on a quarterly basis and each participant is then issued Common Shares having a value equal to the aggregate amount contributed to the Share Purchase Plan by the participant and by Kinross. The purchase price per share is the weighted average trading price or the average of the high and low board lot trading prices of the Common Shares on the TSE, for participants resident in Canada, or the American Stock Exchange, for participants resident in the United States, for the five consecutive trading day period prior to the end of the calendar quarter in respect of which the Common Shares are issued. The maximum number of Common Shares issuable under the Share Purchase Plan is currently set at 8,000,000 Common Shares in the aggregate, representing 39% of the total number of Common Shares allocated to Kinross' Share Incentive Plan.
SHARE PURCHASE PLAN. The Parties acknowledge and agree that all Company Shares that are subject to the Share Purchase Plan shall be subject to the Plan of Arrangement and the holders thereof shall be entitled to receive the Arrangement Consideration in respect of such Company Shares at the same time and on the same conditions as the Company Shareholders pursuant to the Arrangement. The Company will take all actions (including obtaining any necessary determinations and/or resolutions of the Company Board or a committee thereof and, if appropriate, amending the terms of the Share Purchase Plan) that may be necessary or required under the Share Purchase Plan to ensure that subject to the Arrangement becoming effective, the Share Purchase Plan will terminate in its entirety at or immediately prior to the Effective Time and the Purchaser acknowledges and agrees that the Company shall maintain in full force and effect the Share Purchase Plan until such time.
SHARE PURCHASE PLAN. The Share Purchase Plan calls for Company contributions of an amount equal to 75% of an employee's contributions, which can amount to a maximum of 10% of their basic annual salary. The Class A shares are issued monthly based on the simple average of the closing prices of the shares during the five trading days immediately prior to issuance.
SHARE PURCHASE PLAN. 2.1. PARTICIPATION