Examples of SpinCo ESPP in a sentence
Prior to the Effective Time, SpinCo shall adopt an employee stock purchase plan in a form substantially similar to the DevCo ESPP (the “SpinCo ESPP”), and the SpinCo Employees shall be eligible to participate in the SpinCo ESPP effective no later than January 1, 2021.
Prior to the Distribution, Nuance shall cause SpinCo to adopt an employee stock purchase plan, to be effective immediately prior to the Distribution (the “SpinCo ESPP”), and Nuance shall approve the SpinCo ESPP as the sole stockholder of SpinCo.
The SpinCo ESPP will include authority to grant options which do not meet the requirements of Section 423(b) of the Code (as well as options which meet such requirements).
The administrator of the SpinCo ESPP, in its sole discretion, shall determine the jurisdictions in which participation in the SpinCo ESPP will be offered and the timing of the offering periods under the SpinCo ESPP.
The initial “purchase period” under the SpinCo ESPP will end on the same date that such period is scheduled to end under the Parent ESPP.
The rights to purchase Parent Shares, which have been earned under the Parent ESPP shall be converted, in accordance with the procedures described in Section 4.02(a)(ii) and applicable law, into rights to purchase SpinCo Shares under the SpinCo ESPP effective as of the Distribution Date with respect to a number of SpinCo Shares and at a price determined on the same basis as under Section 4.02(a)(ii).
Additional purchase periods under the SpinCo ESPP will be subject to the terms and conditions determined by SpinCo in its sole discretion.