Common use of Automatic Share Reserve Increase Clause in Contracts

Automatic Share Reserve Increase. Subject to adjustment upon changes in capitalization of the Company as provided in Section 15, the number of Shares available for issuance under the Plan will be increased [annually on the first day of the third Fiscal Quarter beginning with the 2023 Fiscal Year]4 OR [on the first day of each Fiscal Year beginning with the 2024 Fiscal Year]5, in an amount equal to the least of (a) [-] Shares, (b) a number of Shares equal to five percent (5%) of the total number of shares of all classes of common stock of the Company outstanding on the last day of the immediately preceding [second Fiscal Quarter] OR [Fiscal Year], or (c) such number of Shares determined by the Administrator no later than the last day of the immediately preceding [second Fiscal Quarter] OR [Fiscal Year]. 4 NTD: To include if Board and stockholder approval will occur in 2022 but the deal will close in early 2023. 5 NTD: To include if Board and stockholder approvals will occur in 2023 and the deal will close in 2023.

Automatic Share Reserve Increase. Subject to adjustment upon changes in capitalization of the Company as provided in Section 1517 hereof, the number of Shares shares of Common Stock available for issuance under the Plan will be increased [annually on the first day of the third Fiscal Quarter beginning with the 2023 Fiscal Year]4 OR [on the first day of each Fiscal Year beginning with the 2024 Fiscal Year]5, in an amount equal to the least of (a) [-] Sharesshares of Common Stock, (b) a number of Shares shares of Common Stock equal to five one percent (51%) of the total number of shares of all classes of common stock of the Company outstanding on the last day of the immediately preceding [second Fiscal Quarter] OR [Fiscal Year], or (c) such number of Shares determined by the Administrator no later than the last day of the immediately preceding [second Fiscal Quarter] OR [Fiscal Year]. 4 NTD: To include if Board and stockholder approval will occur in 2022 but the deal will close in early 2023. 5 NTD: To include if Board and stockholder approvals will occur in 2023 and the deal will close in 2023.