Common use of Excluded Events Clause in Contracts

Excluded Events. Notwithstanding anything in this Section 6 to the contrary, the Exercise Price shall not be adjusted by virtue of (i) the Warrants or the existence or exercise of any Options of the Company outstanding on the date hereof and disclosed in the Prospectus or (ii) the issuance or sale of, or the grant of Options to purchase, Common Stock to employees, directors, or officers of the Company or its subsidiaries, or to other persons who do not beneficially own more than one percent of the Common Stock (assuming for this purpose that all Options then held by the person, including new options then being granted, but no other Option or Convertible Securities, have then been exercised in full) and are not the children of such a one percent or greater shareholder or the spouses of such children, pursuant to stock option plans currently existing or hereafter approved by the Board of Directors of the Company, provided that the exercise price is no less than the lower of fair market value at the time of grant (as determined in accordance with the applicable stock option plan) or the Current Market Price at the time of grant (all as determined in accordance with this Section 6(c)).

Excluded Events. Notwithstanding anything in this Section 6 to the contrary, the Exercise Price shall not be adjusted by virtue of (i) the Warrants or the existence or exercise of any Options options of the Company outstanding on the date hereof and disclosed in the Prospectus or (ii) the issuance or sale of, or the grant of Options to purchase, Common Stock to employees, directors, or officers of the Company or its subsidiaries, or to other persons if any, in each case who do not beneficially own more than one five percent of the Common Stock (assuming for this purpose that all Options then held by the person, including new options then being granted, but no other Option or Convertible Securities, have then been exercised in full) and ), or are not the children of such a one five percent or greater shareholder or the spouses of such children, pursuant to stock option plans currently existing existing, or hereafter approved by the Board of Directors of the Company, provided that the exercise at a price which is no less than the lower of fair market value at the time of grant (as determined in accordance with the applicable stock option plan) or the Current Market Price at the time of grant such issuance or sale (all as determined in accordance with this Section 6(c)).

Excluded Events. Notwithstanding anything in this Section 6 to the contrary, the Exercise Price shall will not be adjusted by virtue of (i) the Warrants or the existence or exercise of any Options options of the Company outstanding on the date hereof and disclosed in the Prospectus or (ii) the issuance or sale of, or the grant of Options to purchase, Common Stock to employees, directors, directors or officers of the Company or its subsidiaries, or to other persons if any, in each case who do not beneficially own more than one five percent of the Common Stock (assuming for this purpose that all Options then held by the person, including new options then being granted, but no other Option or Convertible Securities, have then been exercised in full) and or are not the children of such a one five percent or greater shareholder or the spouses of such children, pursuant to stock option plans currently existing existing, or hereafter approved by the Board of Directors of the Company, provided that the exercise at a price which is no less than the lower of fair market value at the time of grant (as determined in accordance with the applicable stock option plan) or the Current Market Price at the time of grant such issuance or sale (all as determined in accordance with this Section 6(c)).