Retention Pool. The Parent shall, as promptly as practicable following the Effective Time, offer to certain Offered Employees equity securities of Parent with such offered equity securities having an aggregate value of not less than $15,000,000 (and, to the extent such Offered Employees become Continuing Employees, grant such equity securities) and allocated amongst such Offered Employees by Parent in consultation with ▇▇. ▇▇▇▇ ▇▇▇▇▇▇▇▇; provided that such allocations otherwise comply with Section 6.7(b) (for clarity, these grants are in addition to any Adjusted Options granted to such individuals pursuant to Section 2.1(b)(vi)). The employment transition letter for each such Offered Employee shall contain details surrounding such grant of equity securities including any vesting terms.
Appears in 2 contracts
Sources: Merger Agreement, Merger Agreement (MINDBODY, Inc.)