Stock Option Pool. The Company will not from and after the date hereof until the First Closing Date (i) authorize a pool of Equity Participations to be granted or awarded to the Company's employees or directors in excess of the pool provided for as of the date of this Agreement under the CARS Plan (as hereinafter defined), and (ii) authorize the creation of any other plan to provide incentive awards or other grants to employees or directors of any form of equity or other securities of the Company. Until the occurrence of a public distribution of the class of Member Interests (or Equity Equivalents) issuable pursuant to the cancellation of Appreciation Units (as such term is defined in the CARS Plan), so long as the Investor holds the Threshold Membership Percentage, the Company will, as contemplated by Section 6 of the form of award agreement under the CARS Plan previously delivered to the Investor, require each person to whom such Membership Interests (or Equity Equivalents) are to be issued pursuant to the cancellation of any such Appreciation Units, as a pre-condition to such issuance, to execute an agreement providing that such Member Interests (or Equity Equivalents) shall not be transferable prior to the occurrence of such a public distribution.
Stock Option Pool. Template Acquisitions I shall cause ----------------- Template to reserve up to 250,000 shares of Template Common Stock for grant to employees of Milestone pursuant to stock options granted under Template's 1996 Equity Incentive Plan. Such options will be granted with an exercise price equal to the fair market value of Template Common Stock at the time of grant and will vest over a four (4) year period. Stock options will be granted by the Compensation Committee of the Board of Directors of Template based upon recommendations of senior management of Milestone.
Stock Option Pool. Without the prior consent of the holders of a majority of the Shares, for as long as at least 25% of the shares of Series Q Stock issue pursuant to this Agreement are outstanding the Company will not increase the stock option pool for employees by more than 5,000,000 shares (as adjusted for any stock dividends, combinations, splits, recapitalization, and similar events).
Stock Option Pool. 38 8.10 HollySys Stock Acquisition....................................................................38
Stock Option Pool. CNCAC will submit to its stockholders for approval, as part of the Proxy Statement, a proposed equity compensation plan that would permit the granting of stock options, shares of restricted stock and other awards to all qualified persons (including, but not limited to, management, directors and employees). The pool of shares initially available for this plan will equal 10% of the total shares of Chardan Sub expected to be outstanding immediately after the Closing.
Stock Option Pool. The Purchaser shall seek approval from its Board of Directors and stockholders to increase its stock option plans to set aside 900,000 shares (as adjusted for any stock splits, recapitalizations, combinations, etc.) of its common stock for equity incentive grants to employees of the Company. The actual amount of such grants shall be determined from time to time by the Purchaser's Compensation Committee after consultation with the Company's Board of Directors.
Stock Option Pool. At the time that Wizzard seeks approval of the Business Combination from shareholders it will also seek approval of its shareholders to establish a employee stock option pool of 3,000,000 shares of NYSEAmexCorp in conjunction with their approval of the Business Combination.
Stock Option Pool. As promptly as practicable after the Closing, the Company shall institute a new stock option plan constituting 9,450,000 shares of Common Stock (in addition to the existing Stock Option Plans), representing approximately 15% of the aggregate shares of Common Stock then outstanding on a fully diluted basis, effective as of the Closing Date.
Stock Option Pool. HSOA agrees to establish as of the Closing Date a stock option pool, out of the shares available for issuance under the Company's 2001 Stock Plan, of 200,000 shares of HSOA Common Stock for TARGETS' employees, to be available for grant to such employees, excluding SELLER, under terms and conditions recommended by SELLER, which shall be approved by and not be unreasonably denied by HSOA's Board of Directors. Such options shall include an exercise price of $2.00 per share, unless such exercise price would fail to qualify for incentive stock option treatment, in which case the Board shall grant such options at an exercise price that would qualify for incentive stock option treatment. HSOA agrees to establish the stock option pool within 60 days of the Closing.
Stock Option Pool. As of the Closing, the Company shall have authorized an employment-related share purchase or option plan which permits the issuance of up to but not in excess of 13,503,991 Ordinary Shares for allocation to key employees, officers, directors, consultants or other service providers of the Company in the form attached hereto as Exhibit L (the "2005 ESOP"). The 2005 ESOP shall provide for a vesting period of no less than three (3) years for the employees of the Company and an exercise price no lower than the purchase prices paid by the Investors under this Agreement.
