Common use of Net Issuance Clause in Contracts

Net Issuance. ▇▇▇▇▇▇▇ shall be entitled to the customary Company benefit allowing for the “net issuance” by the Company of Common Stock underlying the Options or RSUs or Common Stock comprising the LTIP Stock in order to provide ▇▇▇▇▇▇▇ the opportunity (on his own or through the Company) to sell shares of Common Stock, the proceeds of which will be utilized to pay Vasisht’s federal, state or local income or withholding tax liability.

Appears in 2 contracts

Sources: Retirement Agreement, Retirement Agreement (Biodelivery Sciences International Inc)

Net Issuance. ▇▇▇▇▇▇▇ shall be entitled to the customary Company benefit allowing for the “net issuance” by the Company of Common Stock underlying the Options or RSUs or Common Stock comprising the LTIP Stock Stock, the Equity Bonus or the 2015 Shares in order to provide ▇▇▇▇▇▇▇ the opportunity (on his own or through the Company) to sell shares of Common Stock, the proceeds of which will be utilized to pay Vasisht’s ▇▇▇▇’▇ federal, state or local income or withholding tax liability.

Appears in 1 contract

Sources: Retirement Agreement (Biodelivery Sciences International Inc)

Net Issuance. ▇▇▇▇▇▇▇ shall be entitled to the customary Company benefit allowing for the “net issuance” by the Company of Common Stock underlying the Options or RSUs or Common Stock comprising the LTIP Stock in order to provide ▇▇▇▇▇▇▇ the opportunity (on his own or through the Company) to sell shares of Common Stock, the proceeds of which will be utilized to pay Vasisht’s ▇▇▇▇▇’▇ federal, state or local income or withholding tax liability.. EXECUTION VERSION

Appears in 1 contract

Sources: Retirement Agreement

Net Issuance. ▇▇▇▇▇▇▇ shall be entitled to the customary Company benefit allowing for the “net issuance” by the Company of Common Stock underlying the Options or RSUs or Common Stock comprising the LTIP Stock in order to provide ▇▇▇▇▇▇▇ the opportunity (on his own or through the Company) to sell shares of Common Stock, the proceeds of which will be utilized to pay Vasisht’s ▇▇▇▇▇’▇ federal, state or local income or withholding tax liability.

Appears in 1 contract

Sources: Retirement Agreement (Biodelivery Sciences International Inc)