Common use of Future Stockholders Clause in Contracts

Future Stockholders. The Corporation shall require each Person that acquires Equity Securities entitling them either directly or indirectly to hold more than one percent (1%) of the Common Stock of the Corporation (on a fully-diluted basis) after the date hereof (a “Future Stockholder”), as a condition to the effectiveness of such acquisition, to execute a counterpart to this Agreement, agreeing to be treated as a Prior Stockholder, if such Person acquires Equity Securities from a Prior Stockholder, agreeing to be treated as a Series A Investor if such Person acquires Equity Securities from a Series A Investor or agreeing to be treated as a Series C Investor if such Person acquires Equity Securities from a Series C Investor, whereupon such Person shall be bound by, and entitled to the benefits of, the provisions of this Agreement relating to such Prior Stockholder, Series A Investor or Series C Investor, as the case may be.

Appears in 2 contracts

Sources: Stockholders Agreement (Nexsan Corp), Stockholders’ Agreement (Nexsan Corp)