Future Stock Issuances. The Company agrees, unless otherwise ---------------------- approved by at least 80% of the Directors then in office, that after the Closing, stock, stock options, or other securities convertible into or exchangeable for stock, granted to employees, consultants or directors will be granted with an exercise or purchase price of no less than fair market value at the time of grant and with vesting schedule of four years (25% after the first year of employment or service and remainder vesting in equal quarterly increments over the following three years).
Future Stock Issuances. The Company agrees that after the Closings it will not issue any shares of Common Stock (or grant any options, warrants or other rights to purchase the same) to any employee, officer, or director except pursuant to written agreements which provide for vesting over a period of at least forty-eight (48) months (with the initial vesting date to occur at least after twelve (12) months) and a right of first refusal in favor of the Company in the event of any proposed transfer unless such issuance or grant is approved by the Company's Board of Directors and provided that no such agreement will require the Company to repurchase or redeem any of such shares. This Section 6.5 will terminate upon the termination of Section 6.1.
Future Stock Issuances. Any and all additional Stock issued by any Corporation to Pledgors after the Closing Date shall be pledged as Collateral to Lender; provided however that no more than 65% of the issued and outstanding shares of Stock of any Foreign Subsidiary or any FSHCO is required to be pledged hereunder. Pledgors hereby agree to sign any additional documentation required by Lender in connection with complying with this Paragraph 7.
Future Stock Issuances. After July 5, 1994, the Company has not and in ---------------------- the future will not issue more than 3,634,600 shares of Common Stock (or grant any options, warrants or other rights to purchase the same) to employees, officers, directors and consultants without unanimous vote of the Company's Board of Directors. The Company will not issue any shares of Common Stock (or grant any options, warrants or other rights to purchase the same) to any employee, officer, director or consultant except pursuant to agreements which provide for vesting over a period of at least forty-eighty (48) months (with the initial vesting date to occur after twelve (12) months) and a right of first refusal in favor of the Company in the event of any proposed transfer unless such issuance or grant is approved by unanimous vote of the Company's Board of Directors. The Company, Adobe Ventures L.P. and H&Q ESPS Investors L.P. agree to terminate Section 6.4 of that certain Series A Preferred Stock Purchase Agreement dated July 5, 1994.
Future Stock Issuances. The Company will not issue any shares of ---------------------- Common Stock (or grant any options, warrants or other rights to purchase the same) to any employee, officer, director or consultant (i) except pursuant to written agreements which provide for vesting over a period of at least forty- eight (48) months (with the initial vesting date to occur at least after twelve (12) months) and a right of first refusal in favor of the Company in the event of any proposed transfer, or (ii) if such issuance or grant causes the aggregate number of shares of Common Stock issued and granted to the Company's employees, officers, directors or consultants to exceed 811,160; provided further that no ---------------- more than 341,159 shares of Common Stock (or options, warrants or other rights to purchase the same) may be granted to employees, officers, directors or consultants of the Company who are employed, elected or retained by the Company as of the date of this Agreement, unless such issuance or grant is approved by the Purchasers holding a majority of the Shares.
Future Stock Issuances. The Company agrees that after the date of this Agreement it will not issue any shares of Common Stock (or grant any options, warrants or other rights to purchase the same) to any employee, officer, or director except pursuant to written agreements which provide for vesting over a period of at least forty-eight (48) months and which provide the Company with repurchase rights at cost upon termination of employment with respect to unvested shares and a right of first refusal in favor of the Company in the event of any proposed transfer unless such issuance or grant is approved by a majority of the entire Board of Directors (other than interested directors) and provided that no such agreement will require the Company to repurchase or redeem any of such shares.
Future Stock Issuances. 3.1. In the event the Board of Directors determines it is in the best interests of the Corporation to issue additional authorized but unissued Shares of stock of the Corporation, it may do so only upon an affirmative vote of a majority of the Shares of the Corporation at a duly called meeting of the Shareholders of the Corporation.
Future Stock Issuances. The Company shall not issue any of its capital stock, or grant an option to purchase any of its capital stock, unless such issuance or grant is approved by the Company's Board of Directors by not less than a two-thirds' majority.
Future Stock Issuances. MitoKor agrees that after the Closing Date it will not issue any shares of Common Stock (or grant any options, warrants or other rights to purchase the same) to any employee, officer, or director except pursuant to written agreements which provide for vesting over a period of at least forty-eight (48) months (with the initial vesting date to occur at least after twelve (12) months) and a right of first refusal in favor of MitoKor in the event of any proposed transfer unless such issuance or grant is approved by MitoKor's Board of Directors and provided that no such agreement will require MitoKor to repurchase or redeem any of such shares. This Section 5.11(e) will terminate upon the termination of Section 5.11(a).
Future Stock Issuances
