Examples of Amalco Stock Option Plan in a sentence
BE IT RESOLVED, as an Ordinary Resolution, that the Amalco Stock Option Plan which is substantially in the form as set forth in the Amalgamation Agreement, is hereby approved with such modifications as may be required by the TSX Venture Exchange.
If the Option is terminated by reason of the death of the optionee, such option may, subject to the terms thereof and any other terms of the Amalco Stock Option Plan, be exercised by the optionee, or, if the optionee is deceased by the legal personal representative(s) of the estate of the optionee during the one year period following the death of the Optionee.
The Amalco Stock Option Plan will be administered by the board of directors of Amalco, subject to the policies of CDNX.
The Amalco Stock Option Plan contains standard adjustment and anti-dilution provisions in the event of a merger, amalgamation, arrangement or sale of substantially all of the assets of Amalco or if there is a subdivision, consolidation or reclassification of the Amalco Shares.
The Amalco Stock Option Plan is similar to the CDNX 10% rolling incentive stock option program and its purpose is to assist directors, officers, employees and consultants of Amalco and any of its subsidiaries to participate in the growth and development of Amalco.
The total number of Amalco Shares which may be granted to any optionee under the Amalco Stock Option Plan shall not exceed 5% of the outstanding Amalco Shares, and the maximum number of Amalco Shares which may be reserved for issuance to insiders under the Amalco Stock Option Plan may not exceed 10% of the outstanding Amalco Shares, unless disinterested shareholders approval is obtained, in which case up to 20% of the outstanding Amalco Shares may be reserved for issuance to insiders of Amalco.
In addition to the IPO Options, the number of Amalco Shares which may be issued under the Amalco Stock Option Plan will be approximately 2,626,056, and will be granted subsequent to the closing of the Qualifying Transaction.
Additionally, the Amalco Stock Option Plan provides (unless the Amalco board of directors determines otherwise) for the acceleration of the vesting period for any Amalco Options granted if an unsolicited proposal is made with respect to Amalco or a take-over bid which is not exempt from the take-over bid requirements of the Securities Act (Alberta) is made for the Amalco Shares.
As the Amalco Stock Option Plan attached at Appendix “H” provides for a rolling maximum number of Amalco Shares which may be issuable upon the exercise of options granted under that plan, TSXV Policy 4.4 requires that the Amalco Stock Option Plan receive initial shareholder approval and subsequently at each annual meeting of shareholders.
The persons named in the enclosed forms of proxy, if named as proxy, intend to vote FOR the approval of the Amalco Stock Option Plan.