Examples of Preexisting Plan in a sentence
For purposes of determining the number of shares that become available under the Preexisting Plan or the Legacy WMS Plan, the share counting rules applicable to outstanding Awards under this Plan shall apply in the same way to outstanding awards originally granted under the Preexisting Plan or the Legacy WMS Plan.
No grants shall be made under any Preexisting Plan on or after the date this Plan becomes effective.
The provisions of this paragraph shall apply notwithstanding any provision, term or condition of the Preexisting Plan, or any related Commission order, providing for the termination or expiration of such plan due to or based on the passage of time.
Upon approval of the Plan by stockholders of the Company as contemplated under Section 12, no further awards shall be granted under the Preexisting Plans; PROVIDED, however, that any shares that have been forfeited or cancelled in accordance with the terms of the applicable award under a Preexisting Plan may be subsequently again awarded in accordance with the terms of such Preexisting Plan.
Pursuant to the terms of the Escrow Agreement, Xxxxxxx Xxxx and other shareholders of the Company shall place into escrow the sum of Four Million (4,000,000) common shares of the Company, Two Million of which shall be for the purpose of satisfying any exercise of the Shareholders Warrants and Two Million of which shall secure the obligation of Xxxxxxx Xxxx under the Shareholder Put Option.