Xxxx and Dr. Xxxxx Xxxxxxxx. Additionally, in connection with the merger, the Company was granted an option by the former shareholders of StemCells to repurchase 500,000 of the Company's shares of Common Stock exchanged for StemCells shares, upon the occurrence of certain events. To attract and retain Drs. Xxxx, Weissman, Xxxx and Xxxxxxxx, and to expedite the progress of the Company's stem cell program, the Company awarded these individuals options to acquire a total of CYTOTHERAPEUTICS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) DECEMBER 31, 1999
Xxxx and Dr. Xxxxx Xxxxx, pursuant to N.J.A.C. 6A:16-6.2(b)1, shall similarly designate one or more persons to serve as a liaison to the county prosecutor's office and to the respective local law enforcement agency. The roles and functions of these liaisons are to: o facilitate communication and cooperation; o identify issues or problems that arise in the implementation of this Agreement and facilitate the resolution of any such problems; o act as the primary contact person between the schools and the affected law enforcement agencies; o act together in developing joint training and other cooperative efforts, including information exchanges and joint speaking engagements; o coordinate drug and alcohol abuse and violence intervention and prevention efforts; and o consult on the review of school safety and security plans, per N.J.A.C. 6A:15-5.1, and the review of approved model policies of the School Security Task Force.
Xxxx and Dr. Gambling deposed that, due to the short-acting nature of the spinal fentanyl narcotic in question, there was no contra-indication to the administration of the drug as or- dered by Xx. Xxxxxxx. 67 After four years of litigation, the plaintiff failed to adduce any evidence of medical negligence on the part of Xx. Xxxxxxx. Xxxxxxxx J.'s recognition of this fact supports the proposition that there was never any evidence that would support a claim against the physician. In the circumstances, and in the absence of any evidence of negligence throughout the entire course of litigation, the contin- ued joinder of Xx. Xxxxxxx was simply not reasonable. 68 It was further submitted that an appropriate consideration for the Court where a Xxxxxxx or Xxxxxxxxx order is sought is whether or not the unsuccessful defendant sought to shift blame to the other defendant: Voest-Alpine Canada Corp. v. Pan Ocean Shipping Co., [1991] B.C.J. No. 2773 (B.C.S.C. at p. 5, upheld on appeal [1993] B.C.J. No. 1493 (B.C.C.A.).
Xxxx and Dr and Xxx. Xxxxxx (jointly), in recognition of their service as named plaintiffs on behalf of the corporations, and as compensation for any individual claims asserted in these two actions only. The derivative plaintiffs will release no personal claims against Community Bank and Community Bancshares, Inc., other than those set out in the two captioned cases.
Xxxx and Dr. Lxxxx Xxx to resign as a member of the Board of Managers of Honeywood as of the Termination Effective Date by delivering a resignation in the form of Exhibit D hereto simultaneously with the execution of this Agreement.
Xxxx and Dr. JXXX XXXXX, individuals and shareholders of Lightning Optical (the "Shareholders") (Lightning Optical and the Shareholders are hereinafter sometimes referred to collectively as the "Sellers" and Pxxx X. Xxxxxxx, Xx., J. Cxxxxxxxxxx Xxxx, Wxxxx X. Xxxxxxx and Fxxxxxxxx X. Xxxxxx, are hereinafter sometimes referred to as the "Majority Shareholders").
Xxxx and Dr. Xxxxx Xxxxxxxx. Additionally, in connection with the merger, the Company was granted an option by the former shareholders of StemCells to repurchase 500,000 of the Company's shares of Common Stock exchanged for StemCells shares, upon the occurrence of certain events. To attract and retain Drs. Rose, Weissman, Gage and Xxxxxxxx, and to expedite the progress of the Company's stem cell program, the Company awarded these individuals options to acquire a total of approximately 1.6 million shares of the Company's common stock, at an exercise price of $5.25 per share, the quoted market price at the grant date. The Company also designated a pool of 400,000 options to be granted to persons in a position to make a significant contribution to the success of the stem cell program. Under the original grants, approximately 100,000 of these options were exercisable immediately on the date of grant, 1,031,000 of these options would vest and become exercisable only upon the achievement of specified milestones related to the Company's stem cell development program and the remaining 468,750 options would vest over eight years. In connection with the 468,750 options issued to a non-employee, Xx. Xxxxxxxx, the Company recorded deferred compensation of $1,750,000, the fair value of such options at the date of grant, which will be amortized over an eight-year period. The deferred compensation expense associated with the unvested portion of the grants as of December 31, 2001 was $968,000. The fair value was determined using the Black-Scholes method. Effective October 31, 2000, the Company agreed with Drs. Xxxxxxxx and Xxxx to revise their 468,750 milestone-vesting stock options to time-based vesting, on the same schedule as Xx. Xxxxxxxx'x option. Under each of the revised options, 168,750 shares vested immediately, and the remaining 300,000 shares will vest at 50,000 per year on September 25, until September 25, 2005, when the final 100,000 shares will vest. The exercise price remains $5.25 per share. The Company recorded $1,647,000 and $692,000 for the year 2000 and 2001 respectively, as compensation expense for the fair market value of the vested portion of such options in an amount determined using the Black-Scholes method. The deferred compensation expense associated with the unvested portion of the grants was determined to be approximately $1,104,000 at December 31, 2001. As part of the revision of the options, Drs. Xxxxxxxx and Xxxx relinquished all rights under an agreemen...
