Examples of Nonstatutory Option in a sentence
As of the - 7 - Capitalization Date, the Company has reserved an aggregate of 3,550,000 shares of Common Stock for issuance to directors, employees and consultants pursuant to the Company’s Second Amended and Restated Nonstatutory Option Plan (the “Nonstatutory Plan”), under which (i) 2,713,993 shares have been issued and are reflected in the currently outstanding Common Stock, (ii) options to purchase 777,928 shares are presently outstanding and (iii) 58,079 shares remain available for future grant.
Notwithstanding any to the contrary in this Agreement, the Right of First Refusal does not apply to a transfer of Shares subject to a Nonstatutory Option by gift or devise to members of my immediate family (i.e., parents, spouse or children or to a trust for my benefit or any of my immediate family members), but does apply to any subsequent transfer of such Shares by such immediate family members.
The Option granted herein is intended to be a Nonstatutory Option as defined in the Plan.