Examples of Preexisting Plan in a sentence
Pursuant to the terms of the Escrow Agreement, Xxxxxxx Xxxx and other shareholders of the Company shall place into escrow the sum of Four Million (4,000,000) common shares of the Company, Two Million of which shall be for the purpose of satisfying any exercise of the Shareholders Warrants and Two Million of which shall secure the obligation of Xxxxxxx Xxxx under the Shareholder Put Option.
No grants shall be made under any Preexisting Plan on or after the date this Plan becomes effective.
For purposes of determining the number of shares that become available under the Preexisting Plan or the Legacy WMS Plan, the share counting rules applicable to outstanding Awards under this Plan shall apply in the same way to outstanding awards originally granted under the Preexisting Plan or the Legacy WMS Plan.
Upon such approval of the Plan by the stockholders of the Company, no further awards shall be granted under the Preexisting Plan, but any outstanding awards under the Preexisting Plan shall continue in accordance with their terms.
Upon approval of the Plan by stockholders of the Company as contemplated under Section 14, no further awards shall be granted under the Preexisting Plans; PROVIDED, however, that any shares that have been forfeited, cancelled or otherwise not delivered in accordance with the terms of the applicable award under a Preexisting Plan may be subsequently again awarded in accordance with the terms of the Plan.