Approved Stock Plan definition
Examples of Approved Stock Plan in a sentence
So long as any Purchaser holds any of the Securities, the Company shall not redeem, repurchase or otherwise reduce the number of outstanding shares of Common Stock (except for stock repurchases in the ordinary course of business in connection with tax withholding obligations upon vesting of restricted stock or restricted stock units issued under an Approved Stock Plan in the amount not to exceed fifty percent (50%) of the vested amount of the restricted stock and restricted stock units).
Nothing in this Agreement shall preclude the Company from creating or issuing equity based incentives pursuant to an Approved Stock Plan, as defined in the Notes.
Except as set forth on Schedule 4(n), until the date that is forty-five (45) calendar days after the earlier of (i) the Effective Date and (ii) the last day of the Registration Period (each as defined in the Registration Rights Agreement) (the "Trigger Date"), the Company shall not file a registration statement (other than with respect to an Approved Stock Plan (as defined in the Certificates of Designations)) under the 1933 Act relating to securities that are not the Securities.
In addition, if the Company issues its capital stock (i) the Company must comply with any anti-dilution provisions contained herein, if applicable, and (ii) if the issuance of capital stock is pursuant to an Approved Stock Plan, the Company may not grant registration rights with respect to the issuance and the issuance must be approved by the Company’s Board of Directors.
Until the date that the Registration Statement (as defined in the Registration Rights Agreement) is first declared effective by the SEC (the "EFFECTIVE DATE"), the Company will not file a registration statement under the 1933 Act relating to securities that are not the Securities other than in connection with an Approved Stock Plan.