Common use of Limitation on Repricing Clause in Contracts

Limitation on Repricing. Notwithstanding Section 10(e) above, unless such action is approved by the Company’s stockholders, the Company may not (except as provided for under Section 9): (1) amend this Option to provide an exercise price per share that is lower than the then-current exercise price per share of the Option, (2) cancel this Option and grant in substitution therefor a new option covering the same or a different number of shares of Common Stock and having an exercise price per share lower than the then-current exercise price per share of this Option, (3) cancel in exchange for a cash payment this Option if its exercise price per share is below the then-current Fair Market Value, other than pursuant to Section 9, or (4) take any other action with respect to this Option that constitutes a “repricing” within the meaning of the rules of the NASDAQ Stock Market.

Appears in 2 contracts

Samples: Nonstatutory Stock Option Agreement (MEI Pharma, Inc.), Nonstatutory Stock Option Agreement (Infinity Pharmaceuticals, Inc.)

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Limitation on Repricing. Notwithstanding Section 10(e) above, unless such action is approved by the Company’s stockholders, the Company may not (except as provided for under Section 9): (1) amend this Option to provide an exercise price per share that is lower than the then-current exercise price per share of the Option, (2) cancel this Option and grant in substitution therefor a new option covering the same or a different number of shares of Common Stock and having an exercise price per share lower than the then-current exercise price per share of this Option, (3) cancel this Option in exchange for a cash payment this Option if its exercise price per share is below above the then-current Fair Market Valuefair market value of the Common Stock (valued in the manner determined by (or in a manner approved by) the Board), other than pursuant to Section 9, or (4) take any other action with respect to this Option that constitutes a “repricing” within the meaning of the rules of the NASDAQ Nasdaq Stock Market.

Appears in 2 contracts

Samples: Nonstatutory Stock Option Agreement (MEI Pharma, Inc.), Nonstatutory Stock Option Agreement (Infinity Pharmaceuticals, Inc.)

Limitation on Repricing. Notwithstanding Section 10(e) above, unless Unless such action is approved by the Company’s stockholders, the Company may not (except as provided for under Section 96): (1i) amend this Option option to provide an exercise price per share that is lower than the then-then current exercise price per share of the Optionoption, (2ii) cancel this Option outstanding option and grant in substitution therefor a new option covering the same or a different number of shares of Common Stock and having an exercise price per share lower than the then-then current exercise price per share of this Optionoption, (3iii) cancel in exchange for a cash payment this Option option if its exercise price per share is below above the then-then current Fair Market Value, other than pursuant to Section 9, or (4) take any other action with respect to this Option that constitutes a “repricing” within the meaning fair market value of the rules of Common Stock (valued in the NASDAQ Stock Market.manner determined by (or in a manner

Appears in 1 contract

Samples: Nonstatutory Stock Option Agreement (Arvinas, Inc.)

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Limitation on Repricing. Notwithstanding Section 10(e) above, unless such action is approved by the Company’s stockholders, the Company may not (except as provided for under Section 9): (1) amend this Option to provide an exercise price per share that is lower than the then-current exercise price per share of the Option, (2) cancel this Option and grant in substitution therefor a new option covering the same or a different number of shares of Common Stock and having an exercise price per share lower than the then-current exercise price per share of this Option, (3) cancel in exchange for a cash payment this Option if its exercise price per share is below the then-current Fair Market Value, other than pursuant to Section 9, or (4) take any other action with respect to this Option that constitutes a “repricing” within the meaning of the rules of the NASDAQ Stock Global Select Market.

Appears in 1 contract

Samples: Nonstatutory Stock Option Agreement (Achillion Pharmaceuticals Inc)

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