Registration of Underlying Securities. Notwithstanding the foregoing, if the Company determines that issuance of Shares should be delayed pending registration under federal or state securities laws, the receipt of an opinion of counsel satisfactory to the Company that an appropriate exemption from such registration is available, the listing or inclusion of the Shares on any securities exchange or an automated quotation system, or the consent or approval of any governmental regulatory body whose consent or approval is necessary in connection with the issuance of such Shares, the Company may defer exercise of any Option granted hereunder until any of the events described in this sentence has occurred. Notwithstanding anything herein to the contrary, the Company shall be under no obligation to issue any Shares to the extent the Committee determines that such issuance of Shares would be in violation of any applicable state or federal law.
Appears in 4 contracts
Samples: Non Qualified Stock Option Agreement (Franklin Financial Network Inc.), Incentive Stock Option Agreement (Franklin Financial Network Inc.), Incentive Stock Option Agreement (Franklin Financial Network Inc.)
