Option Pool Increase Sample Clauses

The Option Pool Increase clause defines the process and terms for expanding the pool of shares reserved for employee stock options within a company. Typically, this clause specifies the size of the increase, the timing, and how the additional shares will affect existing shareholders' ownership percentages. For example, it may require that the option pool be increased prior to a new investment round, with the dilution from the increase shared among current shareholders. The core function of this clause is to ensure that sufficient equity is available to attract and retain key employees, while also clarifying how the resulting dilution is allocated among stakeholders.
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Option Pool Increase. The number of shares of Common Stock reserved for issuance under the Company’s 2007 Stock Option Plan or any similar plan shall not exceed 40,000,000 shares without prior approval of the Board of Directors.
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Option Pool Increase. As of immediately following the Initial Closing (as defined in the Purchase Agreement), the Company shall have reserved an aggregate number of shares of Common Stock for issuance to officers, directors, employees and consultants of the Company under its 2001 Equity Incentive Plan (the “Option Plan”) equal to three million six hundred seventy-two thousand six hundred thirteen (3,672,613) shares. As of immediately following the Subsequent Closing (as defined in the Purchase Agreement), the Company shall have reserved an aggregate number of shares of Common Stock for issuance to officers, directors, employees and consultants of the Company under the Option Plan equal to three million eight hundred thirty-eight thousand four hundred thirteen (3,838,413) shares.
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Option Pool Increase. Immediately following the Initial Closing, the Company shall reserve an additional number of 1,049,851 shares of its Common Stock for issuances to employees, officers or directors of, or consultants or advisors to the Company or any subsidiary of the Company, pursuant to (i) stock purchase, (ii) stock option plans or (iii) other arrangements that are approved by the Board (including the affirmative vote of at least three (3) of the Preferred Directors).
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Option Pool Increase. The Board of Directors shall approve and recommend and the Company shall submit to its stockholders to approve an increase to the reserved shares under the Company’s 2015 Equity Incentive Plan at an amount no greater than 46,690,100 shares and the Company shall submit such increase to its stockholders for approval (the “Pool Increase”).
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Option Pool Increase. The Investors acknowledge that, within ninety (90) days of the date hereof, the Board of Directors or the Compensation Committee thereof may determine, based on management’s input, an appropriate increase to the number of shares of Common Stock available for issuance pursuant to the Company’s Stock Incentive Plan (the “Plan”), and, if the Board approves such an increase (which will not cause the total number of shares available for the Plan to exceed fifteen percent (15%) of the total share capital of the Company on a fully diluted basis), the Company and the Investors shall undertake all necessary and appropriate actions to increase the number of shares of Common Stock available for issuance under the Company’s Stock Incentive Plan by such an amount as determined by the Board of Directors or the Compensation Committee thereof, including the timely delivery of a written consent voting such Investor’s shares of capital stock of the Company in favor of such increase.
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Option Pool Increase. If the Second Tranche Closing (as defined in the Purchase Agreement) occurs, each signatory hereto hereby covenants and agrees to use its best efforts to vote to increase the number of shares of Class A Common Stock remaining available for issuance to officers, directors, employees and consultants pursuant to the Company’s 2020 Stock Option and Grant Plan by an additional 2,000,136 shares (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or similar recapitalization) promptly following the Second Tranche Closing.
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Option Pool Increase. On or before the Closing the Company shall cause an increase in the shares of Common Stock reserved for issuance as incentive awards to the Company’s management and other employees, directors and consultants pursuant to its equity incentive plan for purposes of additional grants to current employees and initial grants to new hires, in an aggregate amount equal to the sum of (i) 10% of the Series B Preferred Stock (on an as-converted basis) issued at the Closing (excluding the Warrants) and (ii) 13,000,000 shares of Common Stock calculated prior to the Reverse Stock Split.
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Related to Option Pool Increase

  • Step Increases (a) The following is the method used to determine service credit, since the last date of hire, for purposes of positioning on the salary range: i) all continuous service shall be retained and transferred with the employee if she/he changes her/his status from full-time to part- time and vice versa. ii) a part-time employee who changes status to full-time will be given credit on the basis of fifteen hundred (1500) paid hours of part- time being equivalent to one (1) year of full-time service and vice versa. iii) in addition, an employee who is so transferred will be given credit for paid hours accumulated since the date of last advancement. (b) Annual increments for full-time employees shall be paid on their anniversary date. (c) Annual increments for part-time employees shall be paid on the completion of each fifteen hundred (1500) hours worked.

  • Annual Increases On each anniversary of Employee's termination from employment, any remaining amounts to be paid during the next year pursuant to this Paragraph 9 shall be increased to an amount equal to one hundred ten percent (110%) of the amounts required to be paid by Employer hereunder under the provisions of this Paragraph 9 during the preceding year.

  • Reallocation of Applicable Revolving Percentages to Reduce Fronting Exposure All or any part of such Defaulting Lender’s participation in L/C Obligations and Swingline Loans shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Applicable Revolving Percentages (calculated without regard to such Defaulting Lender’s Commitment) but only to the extent that such reallocation does not cause the aggregate Revolving Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Revolving Commitment. Subject to Section 11.20, no reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased exposure following such reallocation.

  • Optional Increase in Commitments Following the Effective Date, the Borrower may, if it so elects, increase the aggregate amount of the Commitments, either by designating a financial institution not theretofore a Lender (a “New Lender”) to become a Lender (such designation to be effective only with the prior written consent of the Administrative Agent and each Issuing Lender, which consents will not be unreasonably withheld or delayed), or by agreeing with an existing Lender that such Lender’s Commitment shall be increased. Upon execution and delivery by the Borrower and such Lender or New Lender of an instrument in form reasonably satisfactory to the Administrative Agent, together with such evidence of appropriate corporate authorization on the part of the Borrower with respect to the increased Commitments and such opinions of counsel for the Borrower with respect to the increased Commitments as the Administrative Agent may reasonably request, such existing Lender shall have a Commitment as therein set forth or such other financial institution shall become a Lender with a Commitment as therein set forth and all the rights and obligations of a Lender with such a Commitment hereunder; provided: (i) that the Borrower shall provide prompt notice of such increase to the Administrative Agent, who shall promptly notify the Lenders; (ii) the conditions set forth in Sections 3.02(c) and (d) shall be satisfied on and as of the effective date of any increase in Commitments pursuant to this Section 2.18; (iii) that any such increase shall be in an amount which is a multiple of $10,000,000; and (iv) that immediately after such increase is made, the aggregate amount of increases in the Commitments pursuant to this Section 2.18 shall not exceed $250,000,000. On the effective date of any increase in the aggregate amount of the Commitments pursuant to this Section 2.18, (i) each New Lender shall pay to the Administrative Agent an amount equal to its pro rata share of the aggregate outstanding Loans (and funded participations, if any, in Letters of Credit) and (ii) any Lender whose Commitment has been increased (an “Increasing Lender”) shall pay to the Administrative Agent an amount equal to the increase in its pro rata share of the aggregate outstanding Loans (and funded participations as above); in each case such payments shall be for the account of each other Lender. Upon receipt of such amount by the Administrative Agent, (A) each other Lender shall be deemed to have ratably assigned that portion of its outstanding Loans that is being reduced to the New Lenders and the Increasing Lenders in accordance with such Lender’s new Commitment or the increased portion thereof as applicable, (B) the Administrative Agent shall promptly distribute to each other Lender its ratable share of the amounts received by the Administrative Agent pursuant to this paragraph and (C) the participations of the Lenders in outstanding Letters of Credit shall be determined in accordance with their Commitments after giving effect to such increase. For the avoidance of doubt, no existing Lender shall have any obligation to participate in such increase except in its absolute and sole discretion.

  • Wage Increase 1. The minimum hourly wage amounts in the salary table in column I (job grades 1 up to and includ- ing 3) concern the statutory minimum wage and are adjusted in the event of an increase in the statutory minimum wage. 2. Each calendar year, in principle before 1 July, the CLA parties shall conduct talks on the adjust- ment of the (other) amounts shown in the salary table (column I, job grades 4 up to and including 6, column II and III) in article 28(2) of the CLA from 1 July of that year. 3. If an adjustment of the salary table (column I, job grades 4 up to and including 6, columns II and III) is agreed pursuant to paragraph 2 of this article, this will be applied as follows: a. The salary table (column I, job grades 4 up to and including 6, columns II and III) will be increased by the agreed percentage and b. the actual wage of the temporary agency worker will be increased by the agreed percentage from the agreed date.