Rights of Optionee. (a) The Optionee shall have none of the rights of a stockholder with respect to the shares covered by the Option until the shares are issued or transferred to such Optionee upon exercise of the Option. (b) The Option shall not interfere with or limit in any way the right the Board may have to terminate the employment of the Optionee with REFAC nor confer upon the Optionee any right to continue to be employed by REFAC.
Appears in 3 contracts
Samples: Stock Option Agreement (Refac), Stock Option Agreement (Refac), Stock Option Agreement (Refac)
Rights of Optionee. (a) The Optionee shall have none of the rights of a stockholder with respect to the shares covered by the Option until the shares are issued or transferred to such the Optionee upon exercise of the Option.
(b) The Option shall not interfere with or limit in any way the right the Board Company may have to terminate the Optionee’s employment of with the Optionee with REFAC Company nor confer upon the Optionee any right to continue to be employed by REFACan employee of the Company.
Appears in 2 contracts
Samples: Stand Alone Stock Option Agreement (Neurologix Inc/De), Stand Alone Stock Option Agreement (Neurologix Inc/De)
Rights of Optionee. (a) The Optionee shall have none of the rights of a stockholder with respect to the shares covered by the Option until the shares are issued or transferred to such Optionee upon exercise of the Option.
(b) The Option shall not interfere with or limit in any way the right of the Board may have Company to terminate the any Optionee's employment of the Optionee with REFAC at any time, nor confer upon the any Optionee any right to continue to be employed by REFACin the employ of the Company or any subsidiary. 8.
Appears in 2 contracts
Samples: Incentive Stock Option Agreement (Refac Technology Development Corp), Nonqualified Stock Option Agreement (Refac Technology Development Corp)
Rights of Optionee. (a) The Optionee shall have none of the rights of a stockholder with respect to the shares covered by the Option until the shares are issued or transferred to such the Optionee upon exercise of the Option.
(b) The Option shall not interfere with or limit in any way the right the Board Company may have to terminate the Optionee's employment of with the Optionee with REFAC Company nor confer upon the Optionee any right to continue to be employed by REFACan employee of the Company.
Appears in 1 contract
Rights of Optionee. (a) The Optionee shall have none of the rights of a stockholder with respect to the shares covered by the Option until the shares are issued or transferred to such Optionee upon exercise of the Option.
(b) The Option shall not interfere with or limit in any way the right the Board may have to terminate the employment of the Optionee with REFAC nor confer upon the Optionee any right to continue to be employed by REFACConsulting Agreement.
Appears in 1 contract
Samples: Stock Option Agreement (Refac)
Rights of Optionee. (a) The Optionee shall have none of the rights of a stockholder with respect to the shares covered by the Option until the shares are issued or transferred to such Optionee upon exercise of the Option.
(b) The Option shall not interfere with or limit in any way the right of the Board may have Company to terminate the any Optionee's employment of the Optionee with REFAC at any time, nor confer upon the any Optionee any right to continue to be employed by REFACin the employ of the Company or any Subsidiary.
Appears in 1 contract
