Equity Terms. During the Executive’s Employment, at the discretion of the Committee, the Executive shall be entitled to participate in the Company’s equity compensation plans, as in effect from time to time, and the Executive shall be eligible to receive grants of Company equity (“Compensatory Equity”), as determined by the Committee, in its discretion from time to time.
Equity Terms. The Founder Shares are substantially similar to the terms of the Class A Shares included in the units sold by the SPAC in the IPO, except that: (a) the Founder Shares will automatically convert into Class A Shares at the time of a Business Combination on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights, as described in more detail in the Registration Statement and the SPAC’s organizational documents; (b) prior to the Business Combination, only holders of the Founder Shares may have the right to vote on the appointment of the SPAC’s directors and holders of a majority of our Founder Shares may remove a member of the SPAC’s board of directors for any reason or no reason; (c) the Company, upon the IPO, agreed to vote the Founder Shares in favor of any proposed Business Combination; (d) unless otherwise agreed with the underwriters of the IPO and as set forth in the Registration Statement, all Founder Shares are subject to the lock-up provisions described in the Registration Statement; (e) the Founder Shares are subject to customary registration rights, which are described in the Registration Statement; (f) the Provider will not participate in any liquidation distribution with respect to the Founder Shares (but will participate in liquidation distributions with respect to any units, warrants, and/or Class A Shares purchased directly by the Provider in the IPO or on the open market) if the SPAC fails to consummate a Business Combination, and the Provider may lose their entire investment; (g) the Founder Shares include additional terms or restrictions as are customary in other similarly-structured blank check company offerings, as set forth in the Registration Statement; and (h) other members of the Company may acquire membership interests in the Company for consideration (or no consideration) on terms and valuations different from the terms and valuations upon which the Provider will purchase its Interests, and Provider shall have no rights thereto (including disclosure thereof).
Equity Terms. (a) If the Licensee makes any bonus issue, consolidation or subdivision of its shares, or reduces or cancels any of its share capital (or any similar reorganisation of capital) between the Start Date and the issue of shares to UniServices under clause 5.1(c), the Licensee must adjust the number of shares issued to UniServices under that clause to ensure the economic effect of the issued shares is the same.
