Unvested Founder Shares. (a) The Sponsor agrees that upon and subject to the completion of the Business Combination (the “Business Combination Closing”), approximately 33% of the Founder Shares then held by the Sponsor (or held by transferees permitted by paragraph 5(c)) shall be considered to be newly unvested shares, which shall vest only if the Share Price Level (as defined below) is achieved after the Business Combination Closing but before the tenth anniversary of the Business Combination Closing.
Appears in 3 contracts
Samples: Insider Letter Agreement (Clean Earth Acquisitions Sponsor LLC), Insider Letter Agreement (Clean Earth Acquisitions Corp.), Insider Letter Agreement (Clean Earth Acquisitions Corp.)
Unvested Founder Shares. (a) The Sponsor agrees that upon and subject to the completion of the Business Combination (the “Business Combination Closing”), approximately 3325% of the Founder Shares then held by the Sponsor (or held by transferees permitted by paragraph 5(c)) shall be considered to be newly unvested shares, which shall will vest only if the Share Price Level (as defined below) is achieved on or after the first anniversary of the Business Combination Closing but before the tenth fifth anniversary of the Business Combination Closing.
Appears in 1 contract
Samples: Letter Agreement (Spring Valley Acquisition Corp. II)
Unvested Founder Shares. (a) The Sponsor agrees that upon and subject to the completion of the Business Combination (the “Business Combination Closing”), approximately 3320% of the Founder Shares then held by the Sponsor (or held by transferees permitted by paragraph 5(c)) shall be considered to be newly unvested shares, which shall will vest only if the Share Price Level (as defined below) is achieved on or after the first anniversary of the Business Combination Closing but before the tenth fifth anniversary of the Business Combination Closing.
Appears in 1 contract
Samples: Letter Agreement (Spring Valley Acquisition Corp. II)
