Mandatory Suspension and Cancellation of Stock Sample Clauses

Mandatory Suspension and Cancellation of Stock. In the event Chartwell reasonably believes Director has committed an act of misconduct including, but limited to acts specified below, the Chartwell may suspend Director's right in his or her Restricted Stock Award granted hereunder pending final determination by the Board of Directors. If Director is determined by the Board to have:
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Mandatory Suspension and Cancellation of Stock. In the event Tungsten reasonably believes Director has committed an act of misconduct including, but limited to acts specified below, Tungsten may suspend Director's right in his Restricted Stock Award granted hereunder pending final determination by the Board of Directors of the Company (the "Board"). If Director is determined by the Board to have:
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Mandatory Suspension and Cancellation of Stock. In the event IROG reasonably believes Director has committed an act of misconduct including, but limited to acts specified below, IROG may suspend Director’s right in his Restricted Stock Award granted hereunder pending final determination by the Board of Directors of the Company (the “Board”). If Director is determined by the Board to have:
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Mandatory Suspension and Cancellation of Stock. In the event SURE reasonably believes Consultant has committed an act of misconduct including, but limited to acts specified below, SURE may suspend Consultant’s right in his Restricted Stock Award granted hereunder pending final determination by the Board of Consultants of the Company (the “Board”). If Consultant is determined by the Board to have:
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Mandatory Suspension and Cancellation of Stock. In the event FEWP reasonably believes Director has committed an act of misconduct including, but limited to acts specified below, FEWP may suspend Director's right in his Restricted Stock Award granted hereunder pending final determination by the Board of Directors of the Company (the "Board"). If Director is determined by the Board to have:
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Mandatory Suspension and Cancellation of Stock. In the event SCQO reasonably believes Recipient has committed an act of misconduct including, but limited to acts specified below, SCQO may suspend Recipient’s right in his Restricted Stock Award granted hereunder pending final determination by the Board of Directors of the Company (the “Board”). If Recipient is determined by the Board to have:
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Mandatory Suspension and Cancellation of Stock. In the event the Company reasonably believes Director has committed an act of misconduct including, but limited to acts specified below, the Company may suspend Director’s right in his Restricted Stock Award granted hereunder pending final determination by the Board of Directors of the Company (the “Board”). If Director is determined by the Board to have:
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Related to Mandatory Suspension and Cancellation of Stock

  • Cancellation of Shares If the Corporation shall make available, at the time and place and in the amount and form provided in this Agreement, the consideration for the Purchased Shares to be repurchased in accordance with the provisions of this Agreement, then from and after such time, the person from whom such shares are to be repurchased shall no longer have any rights as a holder of such shares (other than the right to receive payment of such consideration in accordance with this Agreement). Such shares shall be deemed purchased in accordance with the applicable provisions hereof, and the Corporation shall be deemed the owner and holder of such shares, whether or not the certificates therefor have been delivered as required by this Agreement.

  • Surrender and Cancellation of Shares (a) In the event the over-allotment option (the “Over-Allotment Option”) granted to the representative(s) of the underwriters of the Company’s IPO is not exercised in full, the Buyer acknowledges and agrees that it shall surrender for cancellation any and all rights to such number of Shares (up to an aggregate of 937,500 Shares and pro rata based upon the percentage of the Over-Allotment Option exercised) such that immediately following such surrender, the Buyer (and all other initial shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including ordinary shares issuable upon exercise of any warrants or any ordinary shares purchased by the Buyer in the Company’s IPO or in the aftermarket) equal to 20% of the issued and outstanding ordinary shares of the Company immediately following the IPO.

  • Special Acceleration of Option (a) This option, to the extent outstanding at the time of a Corporate Transaction but not otherwise fully exercisable, shall automatically accelerate so that this option shall, immediately prior to the effective date of such Corporate Transaction, become exercisable for all of the Option Shares at the time subject to this option and may be exercised for any or all of those Option Shares as fully vested shares of Common Stock. No such acceleration of this option shall occur, however, if and to the extent: (i) this option is, in connection with the Corporate Transaction, to be assumed by the successor corporation (or parent thereof) or (ii) this option is to be replaced with a cash incentive program of the successor corporation which preserves the spread existing at the time of the Corporate Transaction on the Option Shares for which this option is not otherwise at that time exercisable (the excess of the Fair Market Value of those Option Shares over the aggregate Exercise Price payable for such shares) and provides for subsequent payout in accordance with the same option exercise/vesting schedule set forth in the Grant Notice.

  • Cancellation of Options In exchange for the consideration described in Section 1.2 below, the Participant hereby agrees that the Award Agreement and the Participant’s interests in the Underwater Options shall be cancelled, terminated, and of no further force or effect, effective as of the Effective Date, and that neither the Company nor the Participant shall have any further rights or obligations with respect to the Award Agreement, the Underwater Options, or with respect to which any shares of Common Stock that could have been acquired upon vesting and exercise of the Underwater Options.

  • Conversion or Cancellation of Shares At the Effective Time, by virtue of the Merger and without any action on the part of any shareholder:

  • Acceleration of Options One hundred (100%) percent of the Executive’s outstanding, unvested options, restricted stock and/or equity awards (“Equity Awards”) shall, immediately prior to the consummation of the Change in Control, become fully and immediately vested to the extent not already so provided under the terms of such Equity Awards; provided, however, that if the acquirer in a Change in Control grants Equity Awards having (in the reasonable opinion of the Board) a value at least equal to the value of Executive’s then-unvested Company Equity Awards, then 50% of the Executive’s outstanding, unvested Company Equity Awards shall become fully and immediately vested immediately prior to the consummation of the Change in Control (and the remaining 50% shall terminate upon the consummation of the Change in Control). Notwithstanding any provisions of the stock option plan or stock option agreement pursuant to which any stock options subject to the preceding sentence were granted, the Executive shall be entitled to exercise such Equity Awards until three years from the date of termination of employment or the expiration of the stated period of the Equity Award, whichever period is the shorter.

  • Acceleration of Option Notwithstanding any other provision of this Agreement to the contrary, the Option granted hereby shall become immediately exercisable upon the occurrence of a Change in Control (as hereinafter defined) of the Corporation if Optionee is an employee of the Corporation or any of its subsidiaries on the date of the consummation of such Change in Control. For purposes of this Section 4.2, a “Change in Control” means the occurrence of any of the following events:

  • Aggregation of Stock All shares of Registrable Securities held or acquired by Affiliates shall be aggregated together for the purpose of determining the availability of any rights under this Agreement and such Affiliated persons may apportion such rights as among themselves in any manner they deem appropriate.

  • Termination of Options The Options, which become exercisable as provided in paragraphs 3 and 4 above, shall terminate and be of no force or effect as follows:

  • Aggregation of Shares If after the date hereof, and subject to the provisions of Section 4.6 hereof, the number of outstanding shares of Common Stock is decreased by a consolidation, combination, reverse stock split or reclassification of shares of Common Stock or other similar event, then, on the effective date of such consolidation, combination, reverse stock split, reclassification or similar event, the number of shares of Common Stock issuable on exercise of each Warrant shall be decreased in proportion to such decrease in outstanding shares of Common Stock.

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