Why doesn't Agile grant Sample Clauses

Why doesn't Agile grant the New Options immediately after the expiration date of the offer? If we were to grant the New Options on any date which is earlier than six months and one day after the date we cancel the options accepted for exchange, we would be subject to onerous accounting treatment. We would be required for financial reporting purposes to treat the New Options as variable awards. This means that we would be required to record the non-cash accounting impact of decreases and increases in the Company's share price as a compensation expense for the New Options issued under this offer. We would have to continue this variable accounting for these New Options until they were exercised, forfeited or terminated. The higher the market value of our shares, the greater the compensation expense we would have to record. By deferring the grant of the New Options for at least six months and one day, we believe we will not have to treat the New Options as variable awards.
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