Common use of Purpose of Plan Clause in Contracts

Purpose of Plan. The purpose of the Plan is to maintain the Company's ability to attract and retain the services of experienced and highly-qualified non-employee directors and to encourage stock ownership by such directors, and to align the interests of such individuals with those of the Company, its Affiliates and its shareholders. It is intended that Participants may acquire or increase their proprietary interests in the Company and be encouraged to remain in the directorship of the Company. The proceeds received by the Company from the sale of Stock pursuant to this Plan may be used for general corporate purposes.

Appears in 3 contracts

Samples: Bancorpsouth Inc, Nova Corp \Ga\, PMT Services Inc /Tn/

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Purpose of Plan. 1.1 The purpose of the Plan is to maintain the Company's ability to attract and retain the services of experienced and highly-qualified non-employee directors and to encourage stock ownership by such assist directors, officers, employees and consultants of the Corporation and any Subsidiary to align participate in the growth and development of the Corporation and its Subsidiaries by providing such persons with the opportunity, through share options, to acquire an increased proprietary interest in the Corporation that will be aligned with the interests of such individuals with those the shareholders of the Company, its Affiliates and its shareholders. It is intended that Participants may acquire or increase their proprietary interests in the Company and be encouraged to remain in the directorship of the Company. The proceeds received by the Company from the sale of Stock pursuant to this Plan may be used for general corporate purposesCorporation.

Appears in 2 contracts

Samples: Amalgamation Agreement (Jenex CORP), Amalgamation Agreement (Jenex CORP)

Purpose of Plan. The purpose of the Plan is to maintain provide incentives and rewards for Non-Employee Directors of the Company by making them participants in the Company's ability to attract and retain the services of experienced and highly-qualified non-employee directors and to encourage stock ownership success. Additionally, by such directors, and to align the interests of such individuals with those virtue of the Companymandatory nature of the Plan, its Affiliates and its shareholders. It is intended that Participants may acquire or increase their proprietary interests Participant will have a direct stake in the Company and be encouraged to remain in the directorship of the Company. The proceeds received by the Company from the sale of Stock pursuant to this Plan may be used for general corporate purposes's performance.

Appears in 1 contract

Samples: Stock Pledge Agreement (First Consulting Group Inc)

Purpose of Plan. 1.1 The purpose of the Plan is to maintain attract, retain and motivate persons as directors, officers, key employees and consultants of the Company's ability to attract Corporation and retain the services of experienced and highly-qualified non-employee directors its Subsidiaries and to encourage stock ownership by such directors, and to align advance the interests of the Corporation by providing such individuals persons with those of the Companyopportunity, its Affiliates and its shareholders. It is intended that Participants may through share options, to acquire or increase their an increased proprietary interests interest in the Company and be encouraged to remain in the directorship of the Company. The proceeds received by the Company from the sale of Stock pursuant to this Plan may be used for general corporate purposesCorporation.

Appears in 1 contract

Samples: Shareholder Rights Plan Agreement (Kingsway Financial Services Inc)

Purpose of Plan. The purpose of the Plan is to maintain aid in maintaining and developing personnel to help assure the Company's ability to attract and retain the services of experienced and highly-qualified non-employee directors and to encourage stock ownership by such directors, and to align the interests of such individuals with those of the Company, its Affiliates and its shareholders. It is intended that Participants may acquire or increase their proprietary interests in the Company and be encouraged to remain in the directorship success of the Company. The proceeds received by Plan is designed to help the Company from retain the sale services of Stock pursuant executives, advisors and key employees and attract new personnel when needed for future operations and growth; to this Plan may be used offer such personnel additional incentives to put forth maximum efforts for general corporate purposesthe success of the business; and to afford them opportunities to obtain or increase a proprietary interest in the Company on a favorable basis and, thereby, to have an opportunity to share in its success.

Appears in 1 contract

Samples: Stock Purchase Plan (Nucleus Inc)

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Purpose of Plan. The purpose of the Plan is to maintain provide the Company's ability Company with a share-related mechanism to attract attract, retain and retain the services of experienced and highly-motivate qualified non-employee directors and to encourage stock ownership by such directorsEmployees, Executive Officers, Directors, and Consultants, to align the interests of incent such individuals with those to contribute toward the long term goals of the Company, its Affiliates and its shareholders. It is intended that Participants may to encourage such individuals to acquire or increase their proprietary interests in Shares of the Company and be encouraged to remain in the directorship of the Company. The proceeds received by the Company from the sale of Stock pursuant to this Plan may be used for general corporate purposesas long term investments.

Appears in 1 contract

Samples: Amalgamation Agreement

Purpose of Plan. The purpose of the Plan is to maintain advance the Company's ability to attract and retain the services of experienced and highly-qualified non-employee directors and to encourage stock ownership by such directors, and to align the --------------- interests of such individuals with those of the Company, its Affiliates Company and its shareholders. It is intended that Participants may shareholders by affording to Eligible Persons an opportunity to acquire or increase their proprietary interests in the Company and be encouraged by the grant to remain such Eligible Persons of Options to purchase Stock in the directorship Company pursuant to the terms of the Plan. By encouraging such Eligible Persons to become owners of shares of Stock in the Company. The proceeds received by , the Company from seeks to motivate, retain and attract those highly competent individuals upon whose judgment, initiative, leadership and continued efforts the sale success of Stock pursuant to this Plan may be used for general corporate purposesthe Company in large measure depends.

Appears in 1 contract

Samples: Grip Technologies Inc

Purpose of Plan. The purpose of the Plan is to maintain the Company's ability to attract and retain the services of experienced and highly-qualified non-employee directors and to encourage stock ownership by such directors, and to align advance the interests of such individuals with those of the Company, its Affiliates Company and its shareholders. It is intended that Participants may shareholders by affording to Eligible Persons an opportunity to acquire or increase their proprietary interests in the Company and be encouraged by the grant to remain such Eligible Persons of Options to purchase Stock in the directorship Company pursuant to the terms of the Plan. By encouraging such Eligible Persons to become owners of shares of Stock in the Company. The proceeds received by , the Company from seeks to motivate, retain and attract those highly competent individuals upon whose judgment, initiative, leadership and continued efforts the sale success of Stock pursuant to this Plan may be used for general corporate purposesthe Company in large measure depends.

Appears in 1 contract

Samples: Silicon Valley Group Inc

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