Directors and Consultants Clause Samples

Directors and Consultants. The foregoing provisions of this Paragraph (5) shall not apply if the Option is granted to a director or consultant of the Company or a Subsidiary who is not also an employee of the Company or a Subsidiary on the date of grant; provided, however, that an employee director who is deemed a 'Key Employee' shall also be exempted from the foregoing provisions of this Paragraph (5)."