Snap Appliance definition
Examples of Snap Appliance in a sentence
Grantor has the following places of business: Snap Appliance, Inc.
Together, Snap Appliance and Adaptec are committed to expanding their leadership in providing easy-to-use, value-priced storage solutions for customers – from the workgroup to the enterprise – solving their needs today with the ability to easily expand storage to meet future demands.
The Merger Agreement generally provides for the assumption of stock options granted by Snap Appliance with most terms of the applicable Snap Appliance stock option agreement (including vesting provisions) remaining in effect, but with the number of shares and exercise price appropriately adjusted to reflect that the stock option will cover shares of the Company rather than Snap Appliance.
Employee acknowledges that the promises and restrictive covenants that Employee is providing in this Agreement are reasonable and necessary to the protection of the Company's and Snap Appliance's business and the Company's legitimate interests in acquiring Snap Appliance pursuant to the Merger Agreement.
The Company will provide Employee with separate notification of the adjustments made to any Snap Appliance stock option of Employee.
The parties hereto recognize that Employee has unique knowledge and experience regarding Snap Appliance's business, and the Company desires to be assured that confidential information pertaining to Snap Appliance's business and the goodwill of Snap Appliance will be preserved and protected and will inure to the benefit of the Company.
The transfer of Employee's employment, or secondment of Employee's services, at any time to any parent or subsidiary of, or successor corporation to, the Company (including, for example, Snap Appliance) shall be expressly permitted pursuant to this Agreement and in the event of such a transfer, the terms of this Agreement shall continue to apply and the parties shall execute any necessary documents to effect the continued application of the terms of this Agreement.
This Agreement supersedes any bonus plan maintained by Snap Appliance, and Employee acknowledges that no payments, whether in stock or cash, will be made under any such bonus plan.
The vesting on the Snap Appliance stock options are: 15% of the original grant of 4,040,000 Snap common stock options vested on September 12, 2002, 21.25% of the original grant of 4,040,000 Snap common stock options vested on September 12, 2003 and 1.77% of the original grant of 4,040,000 Snap common stock options shall vest on each subsequent month from and after September 12, 2003.
For the period beginning on the Closing Date and ending ninety (90) days thereafter, Seller shall provide technical and warranty customer services for new Snap Appliance products sold in Europe.