Stock Compensation Approval. The Company will not, without first obtaining the consent of the Board Supermajority (i) execute, create, or become bound by any new plan or arrangement for the grant of stock options, warrants, or other securities convertible into Common Stock, or for the issuance of restricted stock, or (ii) increase the number of shares reserved for issuance pursuant to any such plan or arrangement, including the Company’s 2010 Equity Incentive Plan.
Stock Compensation Approval. 23 5.4 Right of First Refusal on Employee Stock....................... 23 5.5
Stock Compensation Approval. Any shares of Common Stock of the Company or options to purchase Common Stock of the Company issued after the closing of the transaction contemplated by the Purchase Agreement to directors, consultants and employees of the Company shall be approved by the Board of Directors and, unless otherwise expressly approved by the Board of Directors, shall vest as follows: (i) twenty-five percent (25%) of such shares or options shall vest twelve (12) months after the date employment with, or provision of services to, the Company commences and (ii) the remaining shares shall vest at the rate of one forty-eighth (1/48th) of the total number of shares subject to the option per month thereafter.
Stock Compensation Approval. The Company will not, without first obtaining the consent of a majority of the directors nominated by the holders of the Series B Preferred Stock, holders of the Series C Preferred Stock, holders of the Series D Preferred Stock and holders of the Series E Preferred Stock, taken together as a whole (i) execute, create, or become bound by any new plan or arrangement for the grant of stock options, warrants, or other securities convertible into Common Stock, or for the issuance of restricted stock, or (ii) increase the number of shares reserved for issuance pursuant to any such plan or arrangement, including the Company’s 2000 Stock Option Plan.
