Shares Subject to Post-Distribution SpinCo Option. The number of shares of SpinCo Common Stock subject to such SpinCo Option shall be equal to the product obtained by multiplying (I) the number of shares of Company Common Stock subject to the Company Option immediately prior to the Distribution Time by (II) the SpinCo Ratio by (III) the SpinCo Allocation Factor, and rounding such result down to the nearest whole share. Each SpinCo Option that is outstanding as of the Effective Time will be further adjusted to reflect the Transactions as set forth in Section 4.2(d) below.
Appears in 5 contracts
Samples: Employee Matters Agreement (Ligand Pharmaceuticals Inc), Employee Matters Agreement (Ligand Pharmaceuticals Inc), Employee Matters Agreement (Avista Public Acquisition Corp. II)
Shares Subject to Post-Distribution SpinCo Option. The number of shares of SpinCo Company Common Stock subject to such SpinCo Option shall be equal to the product obtained by multiplying (IA) the number of shares of Company Common Stock subject to the such Company Option immediately prior to the Distribution Time by (IIB) the SpinCo Ratio by (III) the SpinCo Allocation FactorRatio, and rounding such result product down to the nearest whole share. Each SpinCo Option that is outstanding as of the Effective Time will be further adjusted to reflect the Transactions as set forth in Section 4.2(d) below.
Appears in 5 contracts
Samples: Employee Matters Agreement (Ligand Pharmaceuticals Inc), Transition Services Agreement (Avista Public Acquisition Corp. II), Employee Matters Agreement (Avista Public Acquisition Corp. II)
