Issuance of Deferred Stock Units and New Options Sample Clauses

Issuance of Deferred Stock Units and New Options. (a) Subject to the terms and conditions hereinafter set forth and as set forth in the Deferred Share Agreement, the Company shall grant the Management Stockholder Deferred Stock Units representing the right to receive the number of shares of Common Stock as set forth in such Management Stockholder’s Deferred Share Agreement. (b) Subject to the terms and conditions hereinafter set forth and as set forth in the Option Plan and Stock Option Agreement, the Company will grant to the Management Stockholder Options to acquire the number of shares of Common Stock as set forth in such Management Stockholder’s Stock Option Agreement. (c) The Company shall have no obligation to sell any Common Stock to any person who is a resident or citizen of a state or other jurisdiction in which the sale of the Common Stock to him or her would constitute a violation of the securities or “blue sky” laws of such jurisdiction.