JSOP definition
Examples of JSOP in a sentence
Where the Relevant Percentage of such JSOP Shares is less than 100%, this Deed shall continue in respect of any remaining JSOP Shares including clauses 6 and 7 as regards any subsequent Trigger Date.
No alteration may be made under this clause 18 which would materially increase the liability of the Participant or the Company or the Trustee which would materially increase or decrease the value of the Participant’s subsisting rights under this Deed (including, but not limited to, the basis for adjusting the Participant’s interest in JSOP Shares following any variation, reorganisation or sale referred to in the definition of that term) without the approval of the person concerned.
The formula calculates the beneficial interest in each JSOP Share owned by the Participant and the Trustee from time to time, the effect being that, subject to the Share Price Condition and the Performance Condition, the Participant’s interest in the JSOP Shares increases as the JSOP Shares increase in value from the Listing Price (or, before the Relisting, £2.64) (as Adjusted) per JSOP Share.
Where the Trigger Date arises from an event specified in clause 6.2(c), the Relevant Percentage shall be the number of JSOP Shares set out in the written notice as a percentage of the total, or total remaining, JSOP Shares.
In each case the number of JSOP Shares representing the Relevant Percentage shall be rounded down to the nearest whole number.
I hereby give you notice pursuant to clause 6.2(c) of the Joint Share Ownership Deed between us dated [ ] (“the Deed”) in respect of [insert relevant number of JSOP Shares] JSOP Shares (as such term is defined in the Deed).
The JSOP Shares or any interest in the JSOP Shares can otherwise only be transferred or disposed of or otherwise dealt with pursuant to clauses 6 and 7 of this Deed.
The purpose of this clause 3 is to describe and calculate the respective interests of the Participant and the Trustee in the JSOP Shares.
A memory aide depicting important considerations for community warnings is provided in Appendix 6 (outlined in the Emergency Broadcaster Practice Note and JSOP 4.01 Public Information and Warnings).
I note that I am not entitled to serve this notice: • before 30 Business Days after the Vesting Date; • where on the date of this notice the Share Price Condition is not satisfied; • in respect of any Unvested JSOP Shares; or • in respect of less than one third of the original number of JSOP Shares, or if less the remainder of them which remain jointly held pursuant to the Deed that have Vested, and if I fail to comply with these conditions then this notice is not valid.