Examples of Purchaser Stock Option Plan in a sentence
As soon as practicable after the Closing, the Purchaser shall adopt and implement the Purchaser Stock Option Plan pursuant to which the Purchaser shall have the right to issue up to 1,000,000 shares of the Purchaser Common Stock in the form of Options or restricted stock to the Purchaser employees, non-employee directors, consultants and advisors.
A true and complete copy of the Purchaser Stock Option Plan has been provided to the Company, and except as requested by Purchaser, such Purchaser Stock Option Plan has not been amended, modified or supplemented.
All Transferred Employees shall receive credit under the Purchaser’s benefit plans, programs or policies covering the Transferred Employees (other than the Purchaser Stock Option Plan) for years of service with Seller and any predecessors for purposes of eligibility, participation, vesting entitlement (other than the Purchaser Stock Option Plan) and for purposes of determining severance pay and vacation entitlement (but not for retirement benefit accrual purposes).
In addition, as of the close of business on the date of this Agreement, there were an aggregate of 536,000 Purchaser Shares issuable upon the exercise, conversion or vesting of 536,000 Purchaser Options issued under the Purchaser Stock Option Plan.
No rights shall vest or further options shall be granted pursuant to the Purchaser Stock Option Plan as a result of the consummation of this Agreement or the Transactions.