Variable Number definition

Variable Number means, as of the applicable record date, the number of votes which, when added together with the Founder MVS Votes, is equal to 40% of the number of votes that may be exercised by holders of all of the issued and outstanding Voting Shares (including the number of votes attached to the Founder Share);
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Variable Number means number of 30-day periods, or portions thereof, between the grant date of the Options and the Initial Vesting Date.
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Examples of Variable Number in a sentence

  • The term “Ratable Portion” shall mean a portion of the Gross Up Options equal to the total number of Gross Up Options multiplied by the product of .25 times a fraction, the denominator of which is 12 and the numerator of which is the lesser of 12 and the Variable Number.