Option Plan Restrictions. The Company may establish an officer, director, employee or consultant stock option or stock incentive plan, provided, however, that such stock option plan does not permit the issuance of more than ten percent (10%) of the number of shares of Common Stock then issued and outstanding and any such issuance of stock options under the stock incentive plan shall not be issued at a price below the market price on the day the option is granted.
Appears in 5 contracts
Samples: Securities Purchase Agreement (China Wood, Inc.), Securities Purchase Agreement (Timberjack Sporting Supplies, Inc.), Securities Purchase Agreement (Timberjack Sporting Supplies, Inc.)
