Consolidation? = N:eek::eek::eek::eek::eek::eek::eek:!!!! But...

Consolidation? = N!!!!

But completely agree on the rest of what you and surfyy are saying, particularly around the vagueness of the wording. Likely to be just drawn from a template, but never been a fanboy of words like "sole, and absolute".
And what's about that last point!!

Incentivizing is fine, but "may have grant conditions" is a little too wishy-washy for me.

Yes it is, at the absolute maximum a 5% dilution, but please, firm things up... give us, the co-owners more transparency around issue discounts, escrows, targets and KPI's.
Otherwise it just looks to me like we (who to be fair, are not exactly setting the world on fire), are just saying to current and future employees

"Glad you're here! And boy, are we lucky to have you...your leather chair is over there"