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Business Purpose
Business Purpose contract clause examples

Business Purpose. No Operating Acquired Company has, since its formation, engaged in any business other than the ownership, development, construction, operation, maintenance and financing of its Project and any activities incidental to the foregoing.

Purpose. This document is adopted by Perdoceo Education Corporation (”Company”) and sets forth the terms and conditions for Participants who have been selected to participate in the Perdoceo Education Corporation 2022 Annual Incentive Plan.

The Company is formed for the sole and exclusive purpose of, and the sole and exclusive nature of the business to be conducted and promoted by the Company is, holding the Series B Units and the Series D Units pursuant [[Organization B:Organization]] Member LLCA, and making contributions to Brand of any distributions made by the Member [[Organization B:Organization]] as the Holder of Series B Units and Series D Units pursuant [[Organization B:Organization]] Contribution Agreement. Subject [[Organization B:Organization]] limitations otherwise provided for herein and in the Member LLCA, the Company shall have the power to do any and all acts reasonably necessary, appropriate, proper, advisable, incidental or convenient to or for the furtherance of the purpose and business described herein and for the protection and benefit of the Company. The Company may not invest in any entities or engage in any activities other than as permitted by the preceding sentence and shall not be paid any fees for acting as permitted by this Agreement.

Business Purpose. Borrower represents and warrants that all loans evidenced by this Note are for a business, commercial, investment, or other similar purpose and not primarily for a personal, family or household use.

Purpose. The purpose of this 2011 Stock Option Plan (the “Plan”) is to aid Innovative Food Holdings, Inc., a Florida corporation (the “Company”), in attracting, retaining, motivating and rewarding employees (including executive officers and employee directors) and non-employee directors and consultants who provide substantial services to the Company or its subsidiaries or affiliates, to provide for equitable and competitive compensation opportunities, to recognize individual contributions and reward achievement of Company goals, and promote the creation of long-term value for stockholders by closely aligning the interests of Participants with those of stockholders. The Plan authorizes stock-based incentives for Participants.

Purpose. The purpose of the 2022 Executive Bonus Plan (this “Plan”) is to encourage, recognize, and annually reward the achievement of key financial objectives for BigCommerce Holdings, Inc. (together with its subsidiaries, the “Company”).

Purpose. The purpose of the 2022 Executive Incentive Plan (the “Plan”) is to foster the ability of Universal Health Services, Inc., a Delaware corporation (the “Company”), and its affiliates to attract, retain and motivate highly qualified senior management and other executive officers of the Company and its affiliates through the payment of performance-based incentive compensation.

The purpose of this 2022 Inducement Stock Incentive Plan (the “Plan”) of Syros Pharmaceuticals, Inc., a Delaware corporation (the “Company”), is to advance the interests of the Company’s stockholders by enhancing the Company’s ability to attract, retain and motivate persons who are expected to make important contributions to the Company with an inducement material for such persons to enter into employment with the Company and by providing such persons with equity ownership opportunities and performance-based incentives that are intended to better align the interests of such persons with those of the Company’s stockholders. Except where the context otherwise requires, the term “Company” shall include any of the Company’s present or future parent or subsidiary corporations as defined in [Sections 424(e) or (f)])] of the Internal Revenue Code of 1986, as amended, and any regulations thereunder (the “Code”) and any other business venture (including, without limitation, joint venture or limited liability company) in which the Company has a controlling interest, as determined by the Board of Directors of the Company (the “Board”).

Purpose. The Company will, by itself or through its Subsidiaries, engage in the development, manufacture, commercialization and distribution of Myomo Products (the “Business”) in the PRC, Hong Kong, Macau and Taiwan (the “Territory”).

Purpose. [[Company:Organization]] (the “Company”) established this [[Company:Organization]] Executive Severance Plan (the “Plan”) to provide transitional income to certain executives who are involuntarily terminated by the Company without Cause or resign with Good Reason (as defined herein), or satisfy certain limited requirements for voluntary Retirement (as defined herein). The Plan does not apply to executive employees whose employment is terminated in connection with a Change in Control and who are entitled to severance benefits under the Company’s Executive Change in Control Severance Plan. The Company intends that this Plan qualify as, and come within the various exceptions and exemptions under, the Employee Retirement Income Security Act of 1974 (“ERISA”), as amended, for an unfunded plan maintained primarily for a select group of management or highly compensated employees, and any ambiguities in this Plan shall be construed to effect that intent.

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