Exempted Securities. The Contingent Purchase Right shall not apply to grants of stock options or other equity awards (“Employee Awards”) made to employees, consultants or directors of the Company for compensatory purposes pursuant to equity incentive plans approved by the compensation committee of the Board of Directors and in a manner consistent with the Company’s past practices (the “Exempted Securities”); provided, however, that the foregoing exception shall not apply to Employee Awards to the extent that they, together with any other grants of Employee Awards made within the twelve month period prior to the date of grant, exceed 10% of the then-outstanding shares of Common Stock as reported in the Company’s most recent periodic report filed with the SEC.
Appears in 4 contracts
Samples: Investment Agreement (Spectrum Pharmaceuticals Inc), Investment Agreement (Spectrum Pharmaceuticals Inc), Investment Agreement (CASI Pharmaceuticals, Inc.)
