Incentive Plan Proposal Sample Clauses
The Incentive Plan Proposal clause outlines the process by which an employer or organization presents a structured plan to reward employees or participants for achieving specific goals or performance targets. Typically, this clause details the criteria for earning incentives, the types of rewards available (such as bonuses, stock options, or other benefits), and the procedures for evaluating performance against set benchmarks. Its core practical function is to motivate and align participants' efforts with organizational objectives, while providing a transparent framework for recognizing and compensating exceptional performance.
Incentive Plan Proposal. The Recapitalization Share Exchange is conditioned upon the approval of each of the proposals. Failure to receive approval of any of the proposals provides each of Allarity A/S and Allarity Delaware with a right to terminate the Reorganization Agreement. If our shareholders do not approve each of the proposals, the reorganization may not be consummated. If the Recapitalization Share Exchange Proposals is not approved, each of the other proposals will not be presented to the shareholders for a vote.
Incentive Plan Proposal. The Incentive Plan Proposal shall have been duly approved and adopted by the stockholders of Parent by the requisite vote under the Parent’s certificate of incorporation.
Incentive Plan Proposal. The affirmative vote of at least a majority of the votes cast by the stockholders of Osprey present in person or represented by proxy at the Osprey Special Meeting and entitled to vote thereon, assuming a quorum is present, is required to approve the Omnibus Incentive Plan Proposal. The merger is conditioned upon the approval of the Omnibus Incentive Plan Proposal. Notwithstanding the approval of the Omnibus Incentive Plan Proposal, if the merger is not consummated for any reason, the actions contemplated by the Omnibus Incentive Plan Proposal will not be effected. The ESPP Proposal: The affirmative vote of at least a majority of the votes cast by the stockholders of Osprey present in person or represented by proxy at the Osprey Special Meeting and entitled to vote thereon, assuming a quorum is present, is required to approve the ESPP Proposal. The merger is conditioned upon the approval of the ESPP Proposal. Notwithstanding the approval of the ESPP Proposal, if the merger is not consummated for any reason, the actions contemplated by the ESPP Proposal will not be effected. The Adjournment Proposal: The affirmative vote of at least a majority of the votes cast by the stockholders of Osprey present in person or represented by proxy at the Osprey Special Meeting and entitled to vote thereon, assuming a quorum is present, is required to approve the Adjournment Proposal. The merger is not conditioned upon the approval of the Adjournment Proposal. The chairman of the Osprey Special Meeting has the power to adjourn the Osprey Special Meeting only in the absence of receipt of proxies representing a sufficient number of shares of Osprey common stock to approve the Business Combination Proposal, the Amendment Proposals, the Director Election Proposal, the NYSE Proposal, the Omnibus Incentive Plan Proposal and the ESPP Proposal.
Incentive Plan Proposal. To consider and vote upon a proposal to approve and adopt the Long Term Incentive Plan and the material terms thereunder, which we refer to as the “Incentive Plan Proposal”. A copy of the Incentive Plan is attached to the accompanying proxy statement/consent solicitation/prospectus as ▇▇▇▇▇ ▇. The Insiders, including the Sponsor, have agreed to vote their Founder Shares and any public shares held by them in favor of the Business Combination Proposal and all other proposals presented to FVAC stockholders in this proxy statement/consent solicitation/prospectus. Currently, the Insiders own approximately 20% of the issued and outstanding FVAC Common Stock, including all of the outstanding Founder Shares. The Insiders have waived any redemption rights, including with respect to any shares of FVAC Class A common stock purchased in FVAC’s IPO or in the aftermarket, in connection with the Business Combination.