Approved Equity Incentive Plan definition
Approved Equity Incentive Plan means any employee benefit plan which has been approved by the Board of Directors prior to or subsequent to the date hereof pursuant to which the Ordinary Shares and standard options to purchase Ordinary Shares may be issued to any employee, officer or director for services provided to the Company in their capacity as such.
Approved Equity Incentive Plan means any equity incentive plan which has been approved by the board of directors of the Company prior to or subsequent to the date hereof pursuant to which Common Shares and standard options to purchase Common Shares may be issued to any employee, officer, director or consultant for services provided to the Company or its subsidiaries in their capacity as such. Additionally, the Company agrees that its directors and officers as listed on Schedule "C" hereto, shall enter into "lock-up" agreements in favor of the Representative, in the form set forth in Schedule "D" hereto (the "Lock-Up Agreement"), pursuant to which such parties shall not during the period ending sixty (60) days after the Closing Date; offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital stock of the Company, subject to certain exceptions set forth in the Lock-Up Agreement.