Shareholder Approval of Plan. If the Options granted hereby are granted prior to approval of the Plan by the shareholders of the Corporation pursuant to Section 8 of the Plan, the grant of the Options made hereby is expressly conditioned upon and such Options shall not be exercisable until the approval of the Plan by the shareholders of the Corporation in accordance with the provisions of Section 8 of the Plan.
Shareholder Approval of Plan. This Plan shall become effective upon the adoption by the Board of Directors, either at a meeting or by unanimous written consent, subject to the approval thereof by Xxxxxxx and by holders of a majority of the Company's voting shares present in person or by proxy at a duly constituted meeting or by unanimous written consent. Such shareholder approval must be within twelve months after the Plan is adopted by the Board of Directors.
