Common use of Grants Exceeding Allotted Shares Clause in Contracts

Grants Exceeding Allotted Shares. If the Option Stock covered by -------------------------------- an Option exceeds, as of the date of grant, the number of Shares which may be issued under the Plan without additional Stockholder approval, such Option shall be void with respect to such excess Optioned Stock, unless Stockholder approval of an amendment sufficiently increasing the number of Shares subject to the Plan is timely obtained in accordance with Section 14.b. of the Plan.

Appears in 3 contracts

Samples: Stock Option Agreement (Clinicor Inc), Stock Option Agreement (Clinicor Inc), Stock Option Agreement (Clinicor Inc)

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Grants Exceeding Allotted Shares. If the Option Optioned Stock covered by -------------------------------- an Option exceeds, as of the date of grant, the number of Shares which may be issued under the Plan without additional Stockholder shareholder approval, such Option shall be void with respect to such excess Optioned Stock, unless Stockholder shareholder approval of an amendment sufficiently increasing the number of Shares subject to the Plan is timely obtained in accordance with Section 14.b. 14 of the Plan.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (First Horizon Pharmaceutical Corp)

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