Common use of Stock Incentive Plan Clause in Contracts

Stock Incentive Plan. Each of the Basic Restricted Shares, the Supplemental Restricted Shares and the Option shall be granted pursuant to a stock incentive plan (the "INCENTIVE PLAN") to be adopted by the Company prior to the Registration Date that will authorize for issuance thereunder at least (i) 13% of the Outstanding Common Stock plus (ii) the number of shares of Common Stock issuable pursuant to any stock options granted by Xxxx prior to the Registration Date in respect of its common stock and converted into the right to purchase Common Stock in connection with or in contemplation of the Spin-Off as provided in the Stockholders Agreement. Such Incentive Plan shall have terms and conditions which will permit the issuance of the awards to the Executive specified in this Section 6 and shall not contain any other term or condition that has an adverse effect on any award to be made to Executive pursuant to this Section 6.

Stock Incentive Plan. Each of the Basic Restricted Shares, the Supplemental Restricted Shares and the Option shall be granted pursuant to a stock incentive plan (the "INCENTIVE PLAN"“Incentive Plan”) to be adopted by the Company prior to the Registration Date that will authorize for issuance thereunder at least (i) 13% of the Outstanding Common Stock plus (ii) the number of shares of Common Stock issuable pursuant to any stock options granted by Xxxx Dxxx prior to the Registration Date in respect of its common stock and converted into the right to purchase Common Stock in connection with or in contemplation of the Spin-Off as provided in the Stockholders Agreement. Such Incentive Plan shall have terms and conditions which will permit the issuance of the awards to the Executive specified in this Section 6 and shall not contain any other term or condition that has an adverse effect on any award to be made to Executive pursuant to this Section 6.