STOCK SUBJECT TO THE OPTION. The COMPANY shall set aside shares of Common Stock, which it now holds as authorized and unissued shares, in an amount equal to the number of shares which will be issued upon the exercise of this Option. If the Option should expire or become unexercisable for any reason without having been exercised in full, the unpurchased shares which were subject thereto shall be free from any restrictions occasioned by this Option Agreement. If the COMPANY has been listed on a stock exchange, the COMPANY will not be required to issue or deliver any certificate or certificates for shares to be issued hereunder until such shares have been listed (or authorized for listing upon official notice of issuance) upon each stock exchange on which outstanding shares of the same class may then be listed and until the COMPANY has taken such steps as may, in the opinon of counsel for the CORPORATION, be required by law and applicable regulations, including the rules and regulations of the Securities and Exchange Commission, and state blue sky laws and regulations, in connection with the issuance or sale of such shares, and the listing of such shares on each such exchange. The COMPANY will use its best efforts to comply with any such requirements forthwith upon the exercise of the Option.
STOCK SUBJECT TO THE OPTION. The COMPANY shall set aside the number of Option Shares subject to be granted upon exercise of this Option which the COMPANY now holds as authorized and unissued shares. If the Option should expire or become unexercisable for any reason without having been exercised in full, the unpurchased Option Shares which were subject thereto shall be free from any restrictions occasioned by this Option Agreement. If the COMPANY has been listed on a stock exchange, the COMPANY will not be required to issue or deliver any certificate or certificates for shares to be issued hereunder until such shares have been listed (or authorized for listing upon official notice of issuance) upon each stock exchange on which outstanding shares of the same class may then be listed and until the COMPANY has taken such steps as may, in the opinion of counsel for the COMPANY, be required by law and applicable regulations, including the rules and regulations of the Securities and Exchange Commission, and state blue sky laws and regulations, in connection with the issuance or sale of such Option Shares. The COMPANY will use its best efforts to comply with any such requirements forthwith upon the exercise of the Option.
STOCK SUBJECT TO THE OPTION. The Company will not be required to issue or deliver any certificate or certificates for shares to be issued hereunder until such shares have been listed (or authorized for listing upon official notice of issuance) upon each stock exchange on which outstanding shares of the same class are then listed and until the Company has taken such steps as may, in the opinion of counsel for the Company, be required by law and applicable regulations, including the rules and regulations of the Securities and Exchange Commission, and state securities laws and regulations, in connection with the issuance or sale of such shares, and the listing of such shares on each such exchange. The Company will use its best efforts to comply with any such requirements.
STOCK SUBJECT TO THE OPTION. In addition to the restrictions set forth above, the Company and the Optionee agree that the Common Stock of the Company acquired pursuant to this Agreement shall be subject to the restrictions set forth in the Plan.
STOCK SUBJECT TO THE OPTION. In addition to the restrictions set forth above, the Company and the Optionholder agree that the Common Stock of the Company acquired pursuant to this Agreement shall not be sold or transferred for 180 days after issuance and shall be subject to the other restrictions set forth in the Plan and subject to the restriction as set out in Paragraph 5 of this Agreement.
STOCK SUBJECT TO THE OPTION. The Company will not be required to issue or deliver any shares of Common Stock or certificate or certificates for shares of Common Stock to be issued upon exercise of any vested portion of the Option hereunder until such shares have been listed (or authorized for listing upon official notice of issuance) upon each stock exchange on which outstanding shares of the same class are then listed and until the Company has taken such steps as may, in the opinion of counsel for the Company, be required by law and applicable regulations, including the rules and regulations of the Securities and Exchange Commission, and state securities laws and regulations, in connection with the issuance or sale of such shares, and the listing of such shares on each such exchange.
STOCK SUBJECT TO THE OPTION. If the Option should expire or become unexercisable for any reason without having been exercised in full, any unpurchased shares which were subject thereto shall once again be subject to the grant of an Option pursuant to the Plan. The Company will not be required to issue or deliver any certificate or certificates for shares to be issued hereunder until such shares have been listed (or authorized for listing upon official notice of issuance) upon each stock exchange on which outstanding shares of the same class are then listed and until the Company has taken such steps as may, in the opinion of counsel for the Company, be required by law and applicable regulations, including the rules and regulations of the Securities and Exchange Commission, and State Securities laws and regulations, in connection with the issuance or sale of such shares, and the listing of such shares on each such exchange. The Company will use its best efforts to comply with any such requirements.
STOCK SUBJECT TO THE OPTION. The Board of Directors of the Company shall set aside and reserve One Million (1,000,000) shares of the authorized and unissued Common Stock to be issued in satisfaction of this Option. If the Option should expire or become unexercisable for any reason without having been exercised in full, the shares which were subject thereto shall be free from any restrictions. The Company will not be required to issue or deliver any certificate or certificates for shares to be issued hereunder until such shares have been listed (or authorized for listing upon official notice of issuance) upon each stock exchange on which outstanding shares of the same class may then be listed and until the Company has taken such steps as may, in the opinion of counsel for the Corporation, be required by law and applicable regulations, including the rules and regulations of the Securities and Exchange Commission, and state blue-sky laws and regulations in connection with the issuance or sale of such shares, and the listing of such shares on each such exchange. The Company will use its best efforts to comply with any such requirements. The Company may require the Foundation or any of its successors or assigns to make such representations, including, but not limited to, written representation that the shares are to be acquired for investment and not for resale or with a view to the distribution thereof, and to furnish such information as the Company may consider appropriate in connection with the issuance and delivery of the shares in compliance with applicable laws, rules and regulations. The Company may cause a legend or legends to be placed on such certificates to make appropriate reference to such representation and to restrict transfer in the absence of compliance with applicable federal or state securities laws. Neither the Foundation, nor any of its successors or assigns shall be, or have any rights and privileges of, a stockholder of the Company in respect of any shares purchasable upon the exercise of this Option unless and until certificates for such shares have been issued.
STOCK SUBJECT TO THE OPTION. The Company shall set aside six thousand (6,000) shares of the Common Stock. If the Option should expire or become unexercisable for any reason without having been exercised in full, the unpurchased shares which were subject thereto shall be free from any restrictions.
STOCK SUBJECT TO THE OPTION. The COMPANY shall set aside 500,000 shares of its Common Stock to cover the Shares to be issued upon exercise, pending the exercise or expiration of the Option. If the Option should expire or become unexercisable for any reason without having been exercised, the Shares shall become immediately available to the COMPANY for any other use.
