Common use of Status of Optionee Clause in Contracts

Status of Optionee. The Optionee shall have no right as a shareholder with respect to any Option Shares until a certificate representing such Purchased Shares is issued to him. No adjustment shall be made for dividends (ordinary or extraordinary, whether in cash or other property), distributions, or other rights for which the record date is prior to the date such certificate is issued, except as provided in Section 9 of the Plan.

Appears in 2 contracts

Samples: Option Agreement (Eurobancshares Inc), Option Agreement (Eurobancshares Inc)

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Status of Optionee. The Optionee shall have no right as a shareholder with respect to any shares covered by this Option Shares until a certificate representing such Purchased Shares shares is issued to him. No adjustment shall be made for dividends (ordinary or extraordinary, whether in cash or other property), distributions, ) or distributions or other rights for which the record date is prior to the date such certificate is issued, except as provided in Section 9 6.6 of the Plan.

Appears in 1 contract

Samples: Option Plan Nonstatutory Option Agreement (State National Bancshares, Inc.)

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Status of Optionee. The Optionee shall have no right as a shareholder Shareholder with respect to any Shares covered by this Option Shares until a certificate representing such Purchased Shares shares is issued to him. No adjustment shall be made for dividends (ordinary or extraordinary, whether in cash or other property), distributions, or other rights for which the record date is prior to the date such certificate is issued, except as provided in Section 9 Paragraph 6.5 of the Plan.

Appears in 1 contract

Samples: Voting Stock Option Plan (OxySure Systems Inc)

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