Examples of Strategic Transaction in a sentence
The SPAC and the Sponsor hereby consent to each of the Target Companies and the Acquired Entities solicitation of, exploration and negotiation of, and entry into, and consummation of, any and all Strategic Transactions and waive any past, current or future defaults under the BCA or any other Ancillary Document caused by, arising from, or in connection with, any Strategic Transaction, including, without limitation, any breach of the Specified Sections.
Subject to approval of the Board, on the earlier to occur of the closing of the Series C Funding, a Strategic Transaction and the first anniversary of the Effective Date, Executive will be granted an incentive stock option to purchase shares of the common stock of the Company representing approximately 2.0% of the shares of the Company’s common stock on a fully diluted basis as of such date, in consideration of his continued services to the Company under this Agreement.
Following the close of the Series C Funding or a Strategic Transaction, the Company shall, during the Employment Term, pay Executive a Base Salary of Twenty-Five Thousand Dollars ($25,000) per month (the “Post Series C Salary”), less statutory deductions and withholdings, payable in accordance with the Company’s regular payroll practices.