Common use of Automatic Share Reserve Increase Clause in Contracts

Automatic Share Reserve Increase. Subject to adjustment upon changes in capitalization of the Company as provided in Section 17 hereof, the number of shares of Common Stock available for issuance under the Plan will be increased on the first day of each Fiscal Year beginning with the 2022 Fiscal Year, in an amount equal to the least of (a) 3,734,500 shares of Common Stock2, (b) a number of shares of Common Stock equal to one percent (1%) of the total number of shares of all classes of common stock of the Company on the last day of the immediately preceding Fiscal Year, or (c) such number of Shares determined by the Administrator no later than the last day of the immediately preceding Fiscal Year. The shares of Common Stock may be authorized, but unissued, or reacquired Common Stock. 1 NTD: Post-transaction number; not to be adjusted in connection with the transaction. 2 NTD: Post-transaction number; not to be adjusted in connection with the transaction.

Appears in 1 contract

Sources: Business Combination Agreement (ARYA Sciences Acquisition Corp III)

Automatic Share Reserve Increase. Subject to adjustment upon changes in capitalization of the Company as provided in Section 17 hereof, the number of shares of Common Stock available for issuance under the Plan will be increased on the first day of each Fiscal Year beginning with the 2022 Fiscal Year, in an amount equal to the least of (a) 3,734,500 4,501,000 shares of Common Stock2, (b) a number of shares of Common Stock equal to one percent (1%) of the total number of shares of all classes of common stock of the Company on the last day of the immediately preceding Fiscal Year, or (c) such number of Shares determined by the Administrator no later than the last day of the immediately preceding Fiscal Year. The shares of Common Stock may be authorized, but unissued, or reacquired Common Stock. 1 NTD: Post-transaction number; not to be adjusted in connection with the transaction. 2 NTD: Post-transaction number; not to be adjusted in connection with the transaction.

Appears in 1 contract

Sources: Merger Agreement (Osprey Technology Acquisition Corp.)

Automatic Share Reserve Increase. Subject to adjustment upon changes in capitalization of the Company as provided in Section 17 hereof15, the number of shares of Common Stock Shares available for issuance under the Plan will be increased on the first day of each Fiscal Year beginning with the 2022 Fiscal Year, in an amount equal to the least of (a) 3,734,500 shares of Common Stock218,672,200 Shares, (b) a number of shares of Common Stock Shares equal to one five percent (15%) of the total number of shares of all classes of common stock of the Company outstanding on the last day of the immediately preceding Fiscal Year, or (c) such number of Shares determined by the Administrator no later than the last day of the immediately preceding Fiscal Year. The shares of Common Stock may be authorized, but unissued, or reacquired Common Stock. 1 NTD: Post-transaction number; not to be adjusted in connection with the transaction. 2 NTD: Post-transaction number; not to be adjusted in connection with the transaction.

Appears in 1 contract

Sources: Business Combination Agreement (ARYA Sciences Acquisition Corp III)