Current Equity definition
Examples of Current Equity in a sentence
As of the Effective Date, the Executive shall be entitled to retain all shares of the Company’s common stock (the “Common Stock”) and stock options held by the Executive as of the Effective Date (the “Executive’s Current Equity”); provided, however, to the extent that the Executive remains employed by the Company as of the closing date of a Change in Control or IPO Date, the Executive’s Current Equity shall fully vest effective as of the closing date of a Change in Control or IPO Date, as the case may be.
In the event that the Non-Control Party delivers a Dispute Notice, then the Non-Control Party and the Control Party shall work in good faith to resolve the Non-Control Party’s objections set forth therein and the calculation of the Current Equity Value.
The Non-Control Party shall have 30 days following receipt of the Current Equity Value Calculation to notify the Control Party in writing (a “Dispute Notice”) of any dispute of any item, calculation or other matter contained in the Current Equity Value Calculation, including in the event that insufficient supporting documentation was delivered to the Non-Control Party, which Dispute Notice shall set forth a description of the items, calculations or matter disputed.
If the Non-Control Party delivers a Dispute Notice during such 30 day period, then the items, calculations and other matters that are specified in such Dispute Notice shall be deemed in dispute and all other items, calculations and matters set forth in the Current Equity Value Calculation shall be final and binding.
For the avoidance of doubt, any disputes with respect to the Current Equity Value Calculation shall be resolved pursuant to the terms of this Section 2.5, to the exclusion of any other dispute resolution mechanism provided in this Agreement, including Sections 2.3 and 5.11.
The Current Equity Value Calculation as determined by the Valuation Firm shall be final and binding on the parties hereto absent manifest error.
As of the Effective Date, the Executive shall be entitled to retain all shares of the Company’s common stock (the “Common Stock”) and stock options held by the Executive as of the Effective Date (the “Executive’s Current Equity”); provided, however, to the extent that the Executive remains employed by the Company as of the closing date of a Change in Control, the Executive’s Current Equity shall fully vest effective as of the closing date of a Change in Control.
No stock option granted under any of the Borrower’s stock option plans, including the Current Equity Incentive Plans has been backdated.
Each stock option granted by the Borrower was granted (i) in accordance with the terms of the applicable stock option plan of the Borrower (it being understood that certain individual grants that were not subject to either of the Current Equity Incentive Plans themselves, served as their own individual stock option plans) and (ii) with an exercise price at least equal to the fair market value of the Common Stock on the date such stock option would be considered granted under GAAP and applicable law.
Each Investor participating in a sale pursuant to this Article III shall receive consideration in the same form and per Current Equity Security amount after deduction of such Investor’s proportionate share of the related expenses.