Subdivision or Consolidation of Shares. Subject to any required action by the shareholders of the Company, the number of Option Shares covered by this Option, and the Exercise Price thereof, shall be proportionately adjusted for any increase or decrease in the number of issued shares resulting from a subdivision or consolidation of shares or the payment of a stock dividend, or any other increase or decrease in the number of such shares effected without receipt of consideration by the Company; provided however that the conversion of any convertible securities of the Company shall not be deemed having been “effected without receipt of consideration by the Company.”
Appears in 19 contracts
Samples: Employment Agreement (SolarWindow Technologies, Inc.), Stock Option Agreement (New Energy Technologies, Inc.), Stock Option Agreement (New Energy Technologies, Inc.)
Subdivision or Consolidation of Shares. Subject to any required action by the shareholders of the Company, the number of Option Shares covered by this Option, and the Exercise Price thereof, shall be proportionately adjusted for any increase or decrease in the number of issued shares resulting from a subdivision or consolidation of shares or the payment of a stock dividend, or any other increase or decrease in the number of such shares effected without receipt of consideration by the Company; provided however that the conversion of any convertible securities of the Company shall not be deemed having been “effected without receipt of consideration by the Company”.”
Appears in 8 contracts
Samples: Nonstatutory Stock Option Agreement (RenovaCare, Inc.), Nonstatutory Stock Option Agreement (New Energy Technologies, Inc.), Nonstatutory Stock Option Agreement (New Energy Technologies, Inc.)
Subdivision or Consolidation of Shares. Subject to any required action by the shareholders of the Company, the number of Option Shares covered by this Retention Option, and the Exercise Price thereof, shall be proportionately adjusted for any increase or decrease in the number of issued shares resulting from a subdivision or consolidation of shares or the payment of a stock dividend, or any other increase or decrease in the number of such shares effected without receipt of consideration by the Company; provided however that the conversion of any convertible securities of the Company shall not be deemed having been “effected without receipt of consideration by the Company”.”
Appears in 5 contracts
Samples: Employment Agreement (New Energy Technologies, Inc.), Employment Agreement (New Energy Technologies, Inc.), Nonstatutory Stock Option Agreement (New Energy Technologies, Inc.)
