Examples of Prior Equity Plan in a sentence
In addition, any Shares subject to any outstanding award under the Prior Equity Plan that, on and after the date shareholders approve the Plan, are not purchased or are forfeited, paid in cash or reacquired by the Company, or otherwise not delivered to the Participant due to termination or cancellation of such award shall again be available for granting Awards under the Plan.
The aggregate number of Shares that may be issued under all Awards under the Plan shall be reduced by Shares subject to Awards issued under the Plan and the Prior Equity Plan in accordance with the Share counting rules described in Section 4(b) below.
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The terms of the Prior Equity Plan permitted the cancellation of the equity-based awards for no consideration, without the consent or approval of the holders of such equity-based awards.
Each equity-based award, whether vested or unvested, under the Prior Equity Plan was cancelled without any consideration paid therefor and the holder thereof shall have no further right, title or interest with respect to any such equity-based award previously granted under the Prior Equity Plan, including in any Company Ordinary Shares underlying any such equity-based awards.
On and after shareholder approval of this Plan, no awards shall be granted under the Prior Equity Plan, but all outstanding awardspreviously granted under the Prior Equity Plan shall remain outstanding and subject to the terms of the Prior Equity Plan.
Subject to adjustment as provided in Section 11, the aggregate number of Shares reserved for issuance under the Plan shall not exceed 4,800,000 Shares plus any Shares which as of the Effective Date are availablefor issuance under the Prior Equity Plan or are subject to awards under the Prior Equity Plan which are forfeited or lapse unexercised or are settled in cash and which following the Effective Date are not issued under the Prior Equity Plan (“Share Issuance Limit”).
The Cap shall be increased by the number of Shares corresponding (as determined by the Committee in its absolute discretion) to the securities underlying the portion of an award granted under the Prior Equity Plan that is cancelled, terminated or forfeited or lapses, in any case, on or after the Effective Date.
Any Shares that are added to the Share Issuance Limit pursuant to this Section shall be added as (i) one (1) Share for every one (1) Share subject to an option or stock appreciation right granted under the Prior Equity Plan and (ii) as two (2) Shares for every one (1) Share subject to a Restricted Stock Grant or award other than an option or stock appreciation right under the Prior Equity Plan.
The amendment and restatement of the Plan as set forth herein will not in any way affect outstanding awards that were issued under the Prior Equity Plan or outstanding Awards that were issued under this Plan prior to the Effective Date.