Shares Subject to the Plan. Subject to the provisions of Section 11 of the Plan, the maximum number of Shares that the Company may issue for all Awards is 375,000 Shares. For all Awards, the Shares issued pursuant to the Plan may be authorized but unissued Shares, or Shares that the Company has reacquired or otherwise holds in treasury. Shares that are subject to an Award that for any reason expires, is forfeited, is cancelled, or becomes unexercisable, and Shares that are for any other reason not paid or delivered under the Plan shall again, except to the extent prohibited by Applicable Law, be available for subsequent Awards under the Plan. In addition, the Committee may make future Awards with respect to Shares that the Company retains from otherwise delivering pursuant to an Award either (i) as payment of the exercise price of an Award, or (ii) in order to satisfy the withholding or employment taxes due upon the grant, exercise, vesting or distribution of an Award.
Appears in 5 contracts
Samples: Stock Option Award Agreement (Commerce Energy Group, Inc.), Employment Agreement (Commerce Energy Group, Inc.), Restricted Share Award Agreement (Commerce Energy Group, Inc.)
