Common use of Initial Awards Clause in Contracts

Initial Awards. Upon the consummation of the IPO, ▇▇▇▇▇ Inc. will issue shares of Cowen Common Stock and options to purchase Cowen Common Stock only to the employees and officers of ▇▇▇▇▇ Inc. set forth on Schedule 4.04 hereto, and in each case only up to the respective amounts set forth next to each employee’s or officer’s name on such schedule, which schedule may be amended at any time and from time to time with the consent of SG until the date that is three (3) Business Days prior to the anticipated Separation Date.

Initial Awards. Upon the consummation of the IPO, ▇▇▇▇▇ Inc. will issue shares of Cowen Common Stock and options to purchase Cowen Common Stock only to the employees and officers of ▇▇▇▇▇ Inc. set forth on Schedule 4.04 heretoin the notice delivered by ▇▇▇▇▇ Inc. to SG immediately prior to the Parties’ execution of this Agreement, and in each case only up to the respective amounts set forth next to each employee’s or officer’s name on such schedulenotice, which schedule may be amended at any time and from time to time with the consent of SG until the date that is three one (31) Business Days Day prior to the anticipated Separation Date.