Document:

exv10w29

 

Exhibit 10.29

DESCRIPTION OF ELEMENTS OF COMPENSATION OF

NATHAN ZOMMER AND UZI SASSON

During the fiscal year ended March 31, 2006 (“fiscal 2006”), Dr. Nathan Zommer, the Chief Executive
Officer of IXYS Corporation (the “Company”), was paid salary at the annual rate of $480,000,
consistent with the minimum salary payable under the provisions of his employment agreement.

On November 23, 2004, the Compensation Committee (the “Committee”) of the Board of Directors of the
Company approved a cash bonus for Dr. Zommer of $700,000, payable in increments of $100,000 per
fiscal quarter, commencing with the fiscal quarter ending December 31, 2004. A condition to the
Company’s obligation to pay any increment was that Dr. Zommer continued to be the Chief Executive
Officer on the last day of the corresponding fiscal quarter.

On November 23, 2004, the Committee approved an annual salary of $260,000 and a target cash bonus
of $130,000 per fiscal year for Uzi Sasson, the Vice President of Finance and Chief Financial
Officer of the Company. This annual salary and target cash bonus were effective during fiscal
2006.

On June 2, 2005, the Committee set potential bonus levels and objectives to use in determining the
amount of the cash bonus payable to Dr. Zommer in respect of the fiscal 2006. The Committee also
established weights for the objectives, to indicate their relative importance. In doing so, the
Committee considered the advice of an independent compensation consultant.

In setting the bonus levels, objectives and weights, the Committee approved the following language:

“The bonus levels and objectives, along with the weights accorded the objectives, represent
guidelines for the Committee to use in evaluating the bonus to be paid to the Chief Executive
Officer and for the Chief Executive Officer to use in understanding the goals of the Compensation
Committee for his performance. As guidelines, the bonus levels, objectives and weights are not
determinative in and of themselves of the amount of the bonus. The amount of the bonus will be
determined by the Committee in light of its evaluation of the Chief Executive Officer’s performance
in total and not based on the mechanical application of any formula. The Committee may decide to
award additional amounts for performance in excess of an objective or award lesser amounts for
partial performance of an objective. The Committee may also consider factors not set forth below in
ultimately determining the amount of the bonus. Thus, the amount of the bonus to be paid is in the
discretion of the Committee, to be determined after completion of the fiscal year.”

The Committee set three different potential levels for Dr. Zommer’s fiscal 2006 cash bonus as
follows:

Acceptable performance: $250,000

Target bonus: $300,000

Performance above expectations: $400,000

The objectives are described below:

1. A quantitative target for net revenues for fiscal 2006;

2. A quantitative target for gross margin for fiscal 2006; and

 

 

3. Overall performance during fiscal 2006, including an evaluation of infrastructure development,
the business plan and the integration of acquisitions.

The amounts of the cash bonuses of Dr. Zommer and Mr. Sasson for fiscal 2006 have yet to be
determined.

On May 12, 2006, Committee set potential bonus levels to use in determining the amount of the cash
bonuses payable to Dr. Zommer and Mr. Sasson in respect of the fiscal year ending March 31, 2007
(“fiscal 2007”).

In setting the bonus levels, the Committee also approved the following language:

“The bonus levels represent guidelines for the Committee to use in evaluating the bonus to be paid.
The amount of any bonus will be determined by the Committee in light of its evaluation of
performance in total and not based upon the mechanistic application of any formula. The Committee
may decide to award a bonus above or below any bonus level, depending upon its evaluation. Thus,
the amount of the bonus to be paid is in the discretion of the Committee, to be determined after
the completion of the fiscal year.”

The Committee set three different potential levels for Dr. Zommer’s fiscal 2007 cash bonus as
follows:

Acceptable performance: $300,000

Target bonus: $400,000

Performance above expectations: $500,000

The Committee set three different potential levels for Mr. Sasson’s fiscal 2007 cash bonus as
follows:

Acceptable performance: $150,000

Target bonus: $175,000

Performance above expectations: $200,000

On May 12, 2006, the Committee also determined that the annual salaries during fiscal 2007,
effective as of April 1, 2006, would be $510,000 for Dr. Zommer and $300,000 for Mr. Sasson.exv10w30

 

Exhibit 10.30

SUMMARY OF OUTSIDE DIRECTOR COMPENSATION

As of June 15, 2006, Directors of IXYS Corporation that are not employees, commonly referred to as
outside directors, received cash compensation on the following basis:

	 	 	 	 	 
	Annual Retainer for each Director
	 	$	20,000	 
	 
	 	 	 	 
	Additional Annual Retainer for the Chairman of the
	 	 	 	 
	 
	 	 	 	 
	Audit Committee
	 	$	7,500	 
	 
	 	 	 	 
	Compensation Committee
	 	$	4,000	 
	 
	 	 	 	 
	Nominating Committee
	 	$	4,000	 
	 
	 	 	 	 
	Director’s Fee for each Board of Directors meeting
	 	$	1,000	 
	 
	 	 	 	 
	Director’s Fee for each Committee meeting
	 	$	600	 

At the September 2005 annual meeting of stockholders, retainer amounts were authorized at 75% of
the normal amount for one year only, because of a shift forward in time for the annual meeting of
stockholders from November to August or September. The shift was initiated in calendar 2005.exv4w10

 

Exhibit 4.10

WIPRO EMPLOYEE RESTRICTED STOCK UNIT PLAN 2005

	1.	 	Short title, extent and commencement
	 
	a.	 	This Plan may be called the “RSU 2005.”
	 
	b.	 	It applies only to the Eligible Employees of the Company, all its subsidiaries (whether now
or hereafter existing,) as well as to all the Directors except promoter directors and
directors who either by themselves or through their relatives or through any body corporate
directly or indirectly hold more than 10% of the outstanding equity shares of the Company.
Subject to such approval of SEBI, it shall apply to the employees of associate companies and
other business associates.
	 
	c.	 	It shall be deemed to have come into force on the 21, July, 2005 (date of the AGM) or on such
other date as may be decided by the Board of Directors of the Company.
	 
	2.	 	Objectives of the Plan

The principal objectives of this Plan which is framed in accordance with the SEBI ( Employee Stock
Option Scheme and Employee Stock Purchase Scheme), Guidelines), 1999 are to:

	a.	 	Attract, retain and motivate talented and critical employees;
	 
	b.	 	Encourage employees to align individual performance with company objectives;
	 
	c.	 	Reward employee performance with ownership in proportion to their contribution;
	 
	d.	 	Align employee interest with those of the organization;
	 
	3.	 	Definitions

As used herein, unless repugnant to the context the following definitions shall apply:

	a.	 	“Act” means the Companies Act, 1956
	 
	b.	 	“Applicable Laws” means the legal requirements relating to Restricted Stock Units Plans,
including, without limitation, the tax, securities or corporate laws of India, particularly
the SEBI (Employee Stock Options and Employee Stock Purchase Scheme) Guidelines, 1999 (“SEBI
ESOP Guidelines”), and rules, bye- laws of any stock exchange in which the shares are listed
or quoted.
	 
	c.	 	“Administrator” means the Compensation and Benefits Committee .
	 
	d.	 	“Board” means the Board of Directors for the time being of the Company.
	 
	e.	 	“Company” means Wipro Limited.
	 
	f.	 	“Compensation and Benefits Committee” means the Compensation and Benefits Committee appointed
by the Board.
	 
	g.	 	“Director” means a member of the Board.
	 
	h.	 	““Permanent Disability” means any disability of whatsoever nature be it physical, mental or
otherwise which incapacitates or prevents or handicaps an employee from performing any
specific job , work or task which the said employee was capable of performing immediately
before such disablement.
	 
	i.	 	“Employee” means a permanent employee of the company working in India or out of India; or a
director of the company, whether a whole time director or not (but does not include a Promoter
Director) ; or an employee as

 

 

	 	 	defined in sub-clauses (a) or (b) of a subsidiary in India or
out of India, or of a holding company of the company or subject to approval of SEBI, employees
of associate companies and other business associates. An Employee shall continue to be an
Employee during the period of (i) any leave of absence approved by the Company or (ii)
transfers between locations of the Company or between the Company, its Parent, any Subsidiary,
or any successor.

	j.	 	“Eligible Employee” means an employee who qualifies for issue of Restricted Stock Units under
this Plan and who fulfills the conditions as decided in the evaluation process and will
include new employees joining the Company as well as those who have been appointed to join the
Company. Promoter Employees and Promoter Directors are not eligible under this Plan. Further
any person holding 2% or more of the paid up share capital the Company’s equity shares or any
director who either by himself or through his relatives or body corporate directly or
indirectly holds more than 10% of the outstanding equity shares of the Company shall not be
eligible to participate at any time after the commencement of this Plan shall not be eligible
under this Plan provided further that the except with the prior approval of Reserve Bank of
India, employees who are the citizens of Bangladesh, Pakistan or Sri Lanka shall not be
eligible to participate in the Plan.
	 
	k.	 	“Exercise” means making of an application by the Eligible Employee to the company for issue
of shares against Restricted Stock Units vested in him in pursuance of the Plan and paying the
exercise price for the Restricted Stock Units.
	 
	l.	 	“Exercise Price” means, the price payable by the employee for exercising the Restricted Stock
Unit granted to him under the plan as may be decided by the Administrator from time to time,
such price being the face value of the share from time to time.
	 
	m.	 	“Exercise Period” means the time period after vesting within which the employee should
exercise his right to apply for shares against the Restricted Stock Unit vested in him in
pursuance of the plan. Unless otherwise stated, the exercise period will commence from the
date of vesting and will be valid for a period of at least one year to a maximum of five years
from the date of vesting unless such exercise period is extended as per the Plan.
	 
	n.	 	“Fair Market Value” of a share means the market price as defined by Securities and Exchange
Board of India from time to time.
	 
	o.	 	“Market Price” means the latest available closing price, prior to the date of the meeting of
the Committee in which options are granted/ shares are issued, on the stock exchange on which
the shares of the company are listed. If the shares are listed on more than one stock
exchange, then the stock exchange where there is highest trading volume on the said date shall
be considered.
	 
	p.	 	“Optionee” means the holder of an outstanding Restricted Stock Unit granted pursuant to this
Plan.
	 
	q.	 	“Plan” means Wipro Employees Restricted Stock Unit Plan 2005
	 
	r.	 	“Restricted Stock Unit (“RSU’”) means a Restricted Stock Option granted pursuant to the Plan,
comprising of a right but not an obligation granted to an employee under the Plan to apply for
and be allotted shares of the company at the exercise price determined earlier, during or
within the exercise period, subject to the requirements of vesting.
	 
	s.	 	“Restricted Stock Unit Agreement” means a written agreement between the Company and an
Optionee evidencing the terms and conditions of an individual Restricted Stock Unit grant.
The Restricted Stock Unit Agreement is subject to the terms and conditions of the Plan.
	 
	t.	 	“SEBI” means Securities Exchange Board of India or such other statutory authority having
power to regulate the Plan from time to time.
	 
	u.	 	“Shares” mean, the equity shares of the company which have no preference in respect of
dividends or in respect of amounts payable in the event of any voluntary liquidation or
winding up of the Company.
	 
	v.	 	“Subsidiary” means a subsidiary of the Company, whether now or hereafter existing as defined
under Section 4 of the Companies Act, 1956.
	 
	w.	 	w. “Vesting” means the process by which the employee is given the right to apply for shares
of the company against the Restricted Stock Unit granted to him in pursuance of the plan.
	 
	x.	 	“Vesting period” means the period after the completion of which the vesting of the Restricted
Stock Unit granted to the employee in pursuance of the Plan takes place and does not include
any period of service for which employee was not paid salary/wages other than for reasons
approved by the Administrator. The maximum vesting period shall be 84 months and the
Compensation and Benefits committee shall have the authority to decide the vesting periods
within these minimum (One year) and maximum vesting periods (84 months) and such periods may
differ from division to division within the company as may be decided by the Committee, from
time to time.

 

 

	4.	 	Quantum of shares subject to the Plan
	 
	a.	 	Subject to Section 18 of the Plan the maximum number of the shares which shall be subject to
RSU under the Plan is as under:

	 	 	 	 	 
	Nominal value per share:	 	The maximum number of shares subject to RSU under the plan is	 
	Rs. 2 (Two)
	 	12,000,000  (  Twelve  million)	 

	b.	 	The shares, which are subject to RSU, shall be authorised but unissued shares.
	 
	c.	 	If an RSU expires or becomes unexercisable without having been exercised in full, the
unpurchased shares, which were subject thereto, shall lapse and become available for future
grant under the Plan (unless the Plan has terminated).
	 
	d.	 	Where shares are issued consequent upon exercise of an RSU under the Plan, the maximum number
of shares which are subject to RSU from time to time referred to in Section 4(a) above stands
reduced to the extent of such shares issued.
	 
	5.	 	Administration of the Plan

          The Plan shall be administered by the Administrator being the Compensation and Benefits
Committee of the Company as per the provisions of the Plan.

	6.	 	Powers of the Administrator

          Subject to the provisions of the Plan and subject to the approval of any relevant
authorities, the Administrator shall have the authority at its sole discretion to;

	I.	 	determine the Exercise Price;
	 
	II.	 	select the Eligible Employees to whom RSUs may from time to time be granted hereunder;
	 
	III.	 	determine the number of shares to be covered by each such RSU granted hereunder including, determination of the number
of other ADS RSUs/ Stock options to be granted in substitution of these RSUS, subject to all applicable laws;
	 
	IV.	 	determine the Vesting Period (being minimum one year period as per SEBI ESOP Guidelines )and the exercise period.
	 
	V.	 	determine the number of shares and / or the exercise price in the case of bonus shares, share
splits, preferential allotments (if any) and rights issues/dilution and any other form of
corporate action.
	 
	VI.	 	approve forms of agreement for use under the Plan;
	 
	VII.	 	determine the terms and conditions, of any RSU granted hereinunder not being inconsistent with the provisions of the
Plan
	 
	VIII.	 	prescribe, amend and rescind rules and regulations relating to the Plan; and
	 
	IX.	 	construe and interpret the terms of the Plan and RSUs granted pursuant to the Plan

          Administrator shall frame suitable policies and system to ensure that there is no violation
of (a) SEBI (Insider Trading) Regulations, 1992 and SEBI (Prohibition of Fraudulent and Unfair
Trade Practices relating to the securities market ) Regulations, 1995 by any employee.

          No RSUs shall be offered unless disclosures as specified in Schedule IV of SEBI ESOP
Guidelines are made by the Company to the prospective option grantees.

	7)	 	Effect of Administrator’s decisions

 

 

          All decisions, determinations and interpretations of the Administrator shall be final and
binding on all concerned.

	8)	 	Eligibility for grant of RSUs

Only Eligible Employees are entitled to the grant of RSUs

Each RSU shall be designated in the RSU Agreement.

Neither the Plan nor any RSU shall confer upon any Optionee any right with respect to continuing
the Optionee’s relationship as an Employee with the Company, nor shall it interfere in any way with
his or her right or the Company’s right to terminate such relationship at any time, for any reason
whatsoever.

Confidentiality: No employee who holds any RSUs / shares under the Plan shall disclose the details
of the Plan and/ or his/ her holding, to any person, except with the prior permission of the
company.

	9)	 	Rights of an Optionee

          Unless and until the RSUs have been exercised and/or transferred/allotted to the name of the
Optionee in accordance with the provisions of the Act, the Optionee or his/her nominee shall not
have any rights whatsoever as a shareholder including rights for receipt of dividend and/or for
voting with respect to RSUs granted.

	10)	 	Term of Plan for the purpose of Grant

          The Plan shall become effective upon approval by the Shareholders. It shall continue in
effect for a term of ten (10) years unless sooner terminated under Section 20 of the Plan or
extended for such further periods from time to time. It is further clarified that the grant of
Award shall be made during the first ten years of the Plan unless sooner terminated under Section
20 of the Plan or extended for such further periods from time to time.

	11)	 	Term of RSU

          The term of each RSU shall be stated in the RSU Agreement; provided, however, that the term
shall be no more than six (6) years from the date of grant thereof.

	12)	 	Maximum quantum of RSUs per Optionee

          The maximum quantum of RSU per Optionee shall not exceed 1% of the total paid up equity
capital during the tenure of the plan. Further allotment of shares to an Optionee during any one
year exceeding 1% of the issued capital at the time of allotment of shares shall be subject to a
separate resolution.

	13)	 	Vesting periods of RSUs

	a.	 	The minimum vesting period of an RSU shall not be less than a period of 12 months or such
other shorter period or periods as may be decided by the administrator provided such shorter
periods are in compliance with the SEBI ESOP Guidelines applicable from time to time
	 
	b.	 	The maximum vesting period of an RSU shall not be of a period more than 84 months.
	 
	c.	 	Subject to the minimum and maximum vesting periods of an RSU referred to in Section 13(a) and
(b) above, the Administrator shall have the sole discretion to decide upon the vesting periods
in respect of any Optionee or a category of Optionee.

 

 

	14)	 	Consideration payable by Optionees while exercising RSU
	 
	a.	 	The consideration payable by an Optionee for exercising an RSU would be as per the exercise
price.
	 
	b.	 	The consideration to be paid for the shares to be issued upon exercise of an RSU, including
the method of payment shall be determined by the Administrator at the time of grant. Such
consideration may be paid by way of;

	 	i.	 	cash
	 
	 	ii.	 	cheque or cheque equivalent

	c.	 	In making its determination as to the type of consideration to accept, the Administrator
shall consider if acceptance of such consideration may be reasonably expected to benefit the
Company.

15) Methodology of Exercise of RSUs

	 	a.	 	Procedure for Exercise of RSUs
	 
	 	b.	 	An RSU granted hereunder shall be exercisable according to the terms
hereof at such times and under such conditions as determined by the Administrator
and set forth in the RSU Agreement. The RSU shall be deemed exercised when the
Company receives;
	 
	 	c.	 	written or electronic notice of exercise (in accordance with the RSU
Agreement) from the person entitled to exercise the RSU
	 
	 	d.	 	full payment for the shares with respect to which the RSU is exercised.
	 
	 	e.	 	RSUs will become exercisable in part or whole. The unexercised portion
of the RSU will continue to be available to the Optionee or the nominee, for
exercise, in case of specified circumstances such as separation, death, disability,
etc upto such time frame as provided for in the Restricted Stock Unit agreement.
	 
	 	f.	 	Exercise of RSUs in the case of separation of an Employee from the
Company

	I.	 	In the event of separation of an employee from the company due to reasons of permanent and
total disability of the Optionee, the Optionee may exercise his or her RSU both vested as well
as unvested immediately after the date of permanent and total disability but in no event later
than six months from the date of separation from employment.
	 
	II.	 	In the event of death of an employee while in employment with the
Company, the RSUs granted both vested and unvested may be
exercised by the Optionee’s nominee immediately after, but in no
event later than six months from the date of Optionee’s death.
	 
	III.	 	In the event of termination of employment for reasons of
misconduct, all RSUs including those, which are vested but not
exercised at the time of termination of employment, shall expire
and stand terminated with effect from the date of such
termination.

 

 

	IV.	 	In the event of resignation from employment for reasons of normal
retirement or an early retirement specifically approved by the
company, the RSUs granted both vested and unvested may be
exercised by the Optionee or his/her nominee, as the case may be
immediately after, but in no event later than six months from the
date of Optionee’s retirement
	 
	V.	 	In the event of resignation, all RSUs, which are not vested on the date of separation, shall
expire and stand terminated with effect from that date . However, all RSUs which has already
been vested as on that date shall be exercised by the employee immediately but not later than
7 days from the effective date of separation of the employee.
	 
	VI.	 	In the event of abandonment of service by an Optionee without the Company’s consent, all RSUs
including those, which are vested but were not exercised at the time of abandonment of service
shall stand terminated with immediate effect. The date of abandonment of an employee shall be
decided by the Company at its sole discretion which, decision shall be binding on all
concerned.
	 
	VII.	 	In the event of termination with or without cause other than termination of employment for
reasons of misconduct as per 15 b iii above, all RSUs, which are not vested on the date of
termination, shall expire and stand terminated with effect from that date . However, all RSUs
which has already been vested as on that date shall be exercised by the employee immediately
but not later than 7 days from the effective date of termination of the employee.

	 	g.	 	Breach of the policies of the Company or the terms of employment
	 
	 	h.	 	In the event of breach of the policies of the company or the terms of
employment by the Optionee, during the term of his employment and thereafter for a
period of one year, all RSUs including those which are vested but not exercised at
the time of such breach shall expire and stand terminated with effect from the date
of such breach.
	 
	 	i.	 	Cashless exercise of Restricted Stock Units: Cash less exercise of
Restricted Stock Units may be made by the Optionee which shall be subject to
regulatory restrictions and permissions, as may be applicable. Under the cashless
system of securities, the Company may itself fund or permit the empanelled stock
brokers to fund the payment of exercise price, which shall be adjusted against the
sale proceeds of some or all the shares subject to the provisions of the Act.

	16)	 	Consequence of failure to exercise RSU

The amount payable by the employee, if any, at the time of grant of RSU:

	a.	 	may be forfeited by the company if the RSU is not exercised by the employee within the
exercise period; or
	 
	b.	 	the amount may be refunded to the employee if the RSUs are not vested due to non-fulfillment
of condition relating to vesting of RSU as per the Plan.

	17)	 	Non transferability of RSU

 

 

     The RSUs granted under this Plan are not eligible to be sold, pledged, assigned, hypothecated,
transferred or disposed or alienated of in any manner other than by will or by the laws of descent
or distribution and may be exercised, during the life time of the Optionee, only by the Optionee.

	18)	 	Adjustments of number and exercise price of RSU in certain cases

	 	a.	 	Capitalisation by way of issue of bonus shares:

          Subject to any required action by the shareholders of the Company, all the Restricted
Stock Units including those which are vested but were not exercised and / or, as well as the
price per share covered by each such outstanding RSU, shall be proportionately adjusted for
any increase in the number of issued shares resulting from issue of bonus shares without
receipt of consideration by the company provided however that price per share shall not be
reduced below the par value of the share as on the date of allotment of such bonus shares.

	 	b.	 	Issue of rights shares:

          Subject to any required action by the shareholders of the Company, all the RSUs
including those which are vested but were not exercised and/or the price per share covered
by each such outstanding RSU, shall be proportionately adjusted for any increase in the
number of issued shares resulting from issue of rights shares provided however that price
per share shall not be reduced below the par value of the share as on the date of allotment
of such rights shares.

	 	c.      Issue of additional equity (other than by way of issue of rights shares,or allotment of shares under an Employee Stock Option Scheme/Employee Stock Purchase Scheme/Restricted Stock
Units scheme) :

          In the event of issue of additional equity shares other than by way of rights share at
less than fair market value, the Optionee shall have the right to acquire shares covered by
each outstanding RSU at the value at which the additional equity is infused, for a quantum,
equivalent to the proportion of the awarded RSUs bears to the total paid up equity capital
of the Company before the infusion of equity.

	 	d.	 	Merger or Asset sale:

          In the event of a merger of the Company with or into another company, all the RSUs
including those which are vested but were not exercised, and/or the price per share covered
by each such outstanding shall be proportionately adjusted to give effect to the merger or
asset sale provided however that price per share shall not be reduced below the par value of
the share as on the date of merger. Such adjustment shall include the substitution of
options of any other company/ companies and the terms and conditions thereof as may be
decided by the Compensation Committee.

	 	e.	 	Demerger :

 

 

               In the event of demerger of the company into a separate legal entity, the administrator shall
in consultation with the parties to the transaction, decide on the manner in which and the terms
and conditions on which the issue regarding outstanding Restricted Stock Units of the company held
by the Restrcited Stock Optionees is to be addressed before consent for such demerger is given by
the shareholders of the company.

	 	f.	 	Dissolution or liquidation of the Company:

          In the event of dissolution or liquidation of the Company, the Administrator shall
notify each Optionee as soon as practicable prior to the effective date of such proposed
transaction. The Administrator at its discretion may provide for an Optionee to have right
to exercise his or her RSU until 15 days prior to such transaction as to all of the RSU
Stock covered thereby, including shares as to which the RSU would not otherwise be
exercisable.

	19.	 	Time of granting RSUs

The date of grant of an RSU shall be the date specified in the “Restricted Stock Unit Agreement”.

	20.	 	Amendment and Termination of the Plan

	a.	 	Amendment and Termination :

The Board may subject to 20(b) below, at any time amend, alter, suspend or terminate the Plan
provided that such variation is not prejudicial to the interest of the RSU holder.

	b.	 	Shareholder approval :

The Board shall obtain shareholder approval by way of special resolution in a general meeting of
the Company for any amendment to the Plan to the extent necessary and desirable to comply with
Applicable Laws.

The notice for passing special resolution shall contain the information as set out in Clause 6.2 of
SEBI ESOP Guidelines.

	c.	 	Effect of Amendment or Termination:

No amendment, alteration, suspension or termination of the Plan shall impair the rights or be
prejudicial or detrimental to the interests of the Optionee..

 

 

	21.	 	Conditions Upon Issuance of shares

	a.	 	Legal Compliance :

          Shares shall not be issued pursuant to the exercise of an RSU unless the exercise of such RSU
and the issuance and delivery of such shares shall comply with Applicable Laws and shall be further
subject to the approval of counsel for the Company with respect to such compliance.

	 	b.	 	Inability to obtain authority:

          The inability of the Company to obtain authority from any regulatory body having jurisdiction,
which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale
of any shares hereunder, shall relieve the Company of any liability in respect of the failure to
issue or sell such shares as to which such requisite authority shall not have been obtained.

	22.	 	Reservation of Shares

          The Company during the term of this Plan, shall at all times reserve and keep available such
number of shares as part of its authorised share capital as shall be sufficient to satisfy the
requirements of the Plan.

	23.	 	Shareholder approval

          The Plan shall be subject to approval by the shareholders of the Company within twelve (12)
months after the date the Plan is adopted. Such shareholder approval shall be obtained in the
degree and manner required by Applicable Laws.

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