Liability of the Company. (a) If the Option Shares exceed, as of the Grant Date, the number of shares that may without shareholder approval be issued under the Plan, then this Option will be void with respect to such excess shares unless shareholder approval of an amendment sufficiently increasing the number of shares issuable under the Plan is obtained in accordance with the provisions of the Plan. (b) The inability of the Company to obtain approval from any regulatory body having authority deemed by the Company to be necessary to the lawful issuance and sale of any common stock pursuant to the Option will relieve the Company of any liability with respect to the non-issuance or sale of the common stock as to which such approval is not obtained.
Appears in 7 contracts
Samples: Director Stock Option Agreement (World Air Holdings, Inc.), Stock Option Agreement (World Air Holdings, Inc.), Stock Option Agreement (World Airways Inc /De/)
Liability of the Company. (a) If the Option Optioned Shares covered by this Agreement exceed, as of the Grant Date, the number of shares that Common Shares which may without shareholder approval be issued under the Plan, then this Option option will be void with respect to such excess shares unless shareholder approval of an amendment sufficiently increasing the number of shares Common Shares issuable under the Plan is obtained in accordance with the provisions of the Plan.
(b) The inability of the Company to obtain approval from any regulatory body having authority deemed by the Company to be necessary to the lawful issuance and sale of any common stock Common Shares pursuant to the Option this option will relieve the Company of any liability with in respect to of the non-issuance or sale of the common stock such shares as to which such approval is will not have been obtained.
Appears in 5 contracts
Samples: Non Qualified Share Option Agreement (Xoma LTD /De/), Share Option Agreement (Xoma LTD /De/), Non Qualified Share Option Agreement (Xoma LTD /De/)
Liability of the Company. (a) If the Option Optioned Shares covered by this Agreement exceed, as of the Grant Date, the number of shares that of Common Stock which may without shareholder approval be issued under the Plan, then this Option option will be void with respect to such excess shares unless shareholder approval of an amendment sufficiently increasing the number of shares of Common Stock issuable under the Plan is obtained in accordance with the provisions of the Plan.
(b) The inability of the Company to obtain approval from any regulatory body having authority deemed by the Company to be necessary to the lawful issuance and sale of any common stock Common Stock pursuant to the Option this option will relieve the Company of any liability with in respect to of the non-issuance or sale of the common such stock as to which such approval is will not have been obtained.
Appears in 2 contracts
Samples: Non Qualified Stock Option Agreement (Xoma Corp /De/), Stock Option Agreement (Xoma Corp /De/)
Liability of the Company. (a) If the Option Optioned Shares covered by this Agreement exceed, as of the Grant Date, the number of shares that Common Shares of the Company which may without shareholder approval be issued under the Plan, then this Option option will be void with respect to such excess shares unless shareholder approval of an amendment sufficiently increasing the number of shares Common Shares of the Company issuable under the Plan is obtained in accordance with the provisions of the Plan.
(b) The inability of the Company to obtain approval from any regulatory body having authority deemed by the Company to be necessary to the lawful issuance and sale of any common stock Common Shares pursuant to the Option this option will relieve the Company of any liability with in respect to of the non-issuance or sale of the common stock such shares as to which such approval is will not have been obtained.
Appears in 2 contracts
Samples: Share Option Agreement (Xoma LTD /De/), Share Option Agreement (Xoma LTD /De/)
Liability of the Company. (a) If the Option Shares exceed, as of the Grant Date, the number of shares that may without shareholder approval be issued under the Plan, then this Option will be void with respect to such excess shares hares unless shareholder approval of an amendment sufficiently increasing the number of shares issuable under the Plan is obtained in accordance with the provisions of the Plan.
(b) The inability of the Company to obtain approval from any regulatory body having authority deemed by the Company to be necessary to the lawful issuance and sale of any common stock pursuant to the Option will relieve the Company of any liability with respect to the non-issuance or sale of the common stock shares of Common Stock as to which such approval is not obtained.
Appears in 1 contract
Samples: Employment Agreement (Intelidata Technologies Corp)
Liability of the Company. (a) If the Option Optioned Shares covered by this Agreement exceed, as of the Grant Date, the number of shares that Shares which may without shareholder approval be issued under the Plan, then this Option option will be void with respect to such excess shares unless shareholder approval of an amendment sufficiently increasing the number of shares Shares issuable under the Plan is obtained in accordance with the provisions of the Plan.
(b) The inability of the Company to obtain approval from any regulatory body having authority deemed by the Company to be necessary to the lawful issuance and sale of any common stock Shares pursuant to the Option this option will relieve the Company of any liability with in respect to of the non-issuance or sale of the common stock such Shares as to which such approval is will not have been obtained.
Appears in 1 contract
Liability of the Company. (a) a. If the Option Optioned Shares covered by this Agreement exceed, as of the Grant Date, the number of shares that Shares which may without shareholder stockholder approval be issued under the Plan, then this Option option will be void with respect to such excess shares unless shareholder stockholder approval of an amendment sufficiently increasing the number of shares Shares issuable under the Plan is obtained in accordance with the provisions of the Plan.
(b) b. The inability of the Company to obtain approval from any regulatory body having authority deemed by the Company to be necessary to the lawful issuance and sale of any common stock Shares pursuant to the Option this option will relieve the Company of any liability with in respect to of the non-issuance or sale of the common stock such Shares as to which such approval is will not have been obtained.
Appears in 1 contract
Samples: Stock Option Agreement (XOMA Corp)