Inducement Shares definition
Examples of Inducement Shares in a sentence
For purposes of clarity, the Inducement Shares that may be awarded are in addition to and shall not reduce the number of Shares reserved under Section 5(a) for Awards other than Inducement Awards.
The number of Inducement Shares shall be subject to adjustment pursuant to Section 12, as applicable.
The Inducement Shares have been duly authorized and on the Execution Date will be validly issued, fully paid and non-assessable, and free from all taxes, liens, claims and encumbrances with respect to the issue thereof with the holders being entitled to all rights accorded to a holder of Common Stock.
The Inducement Shares are duly authorized and on the Execution Date will be validly issued, fully paid and non-assessable, and free from all taxes, liens, claims and encumbrances with respect to the issue thereof with the holders being entitled to all rights accorded to a holder of Common Stock.
The Company shall include on any registration statement filed with the SEC, all Inducement Shares.
The Inducement Shares may only be transferred or otherwise disposed of in compliance with state and federal securities laws.
The Company shall deliver Inducement Shares to the Buyer as follows: Within five (5) business days after the Closing Date, the Company shall deliver to the Buyer 250,000 shares of duly and validly issued, fully paid and non-assessable Inducement Shares, containing an appropriate restrictive legend.
On the Closing Date (as defined below), the Company shall issue and sell to the Buyer and the Buyer agrees to purchase from the Company the (i) Note in the original principal amount of $220,000.00, (ii) Warrant, and (ii) twenty-four thousand Inducement Shares.
Except as provided in Section 6 of this Agreement, the Inducement Shares will be fully vested as of the Date of Grant, will not be subject to any restrictions, performance, holding or deferral periods or requirements (except as may be required under the Corporation’s stock ownership guidelines in effect for the CEO from time to time), and will not be subject to any risk of forfeiture or repayment.
On the Closing Date (as defined below), the Company shall issue and sell to the Buyer and the Buyer agrees to purchase from the Company (i) the Note in the original principal amount of $220,000, and (ii) the Inducement Shares.