Common use of Excluded Stock Clause in Contracts

Excluded Stock. Excluded Stock" shall mean shares of Common Stock issued or reserved or agreed to be reserved for issuance by the Company (A) under options, warrants, or other securities convertible or exercisable into Common Stock (whether pursuant to a stock option plan or otherwise), provided the same are issued to officers, directors or employees of the Company and provided that the aggregate number of shares of Common Stock issued or issuable under this clause (A) shall not exceed 10% of the Company's issued and outstanding shares of Common Stock, (B) pursuant to antidilution provisions or rights with respect to any other presently issued and outstanding