Rights of Optionees. No optionee shall be deemed for any purpose to be the owner of any shares of Common Stock subject to any option unless and until the option shall have been exercised pursuant to the terms thereof, and the Corporation shall have issued and delivered the shares to the optionee.
Appears in 2 contracts
Sources: 1996 Incentive and Nonqualified Stock Option Plan (Bancorp Rhode Island Inc), 1996 Incentive and Nonqualified Stock Option Plan (Bancorp Rhode Island Inc)
Rights of Optionees. No optionee Optionee shall be deemed for any purpose to be the owner of any shares of Common Stock subject to any option unless and until (i) the option shall have been exercised pursuant to the terms thereof, and (ii) the Corporation Company shall have issued and delivered the shares of the Optionee, and (iii) the Optionee's name shall have been entered as a stockholder of record on the books of the Company. Thereupon, the Optionee shall have full voting, dividend and other ownership rights with respect to the optioneesuch shares of Common Stock.
Appears in 2 contracts
Sources: Master Option Agreement (Third Enterprise Service Group Inc), Master Option Agreement (Third Enterprise Service Group Inc)
Rights of Optionees. No optionee Optionee shall be deemed for any purpose to be ------------------- the owner of any shares of Common Stock subject to any option unless and until (i) the option shall have been exercised pursuant to the terms thereof, (ii) all requirements under applicable law and regulations shall have been complied with to the Corporation satisfaction of the Company, (iii) the Company shall have issued and delivered the shares to the optioneeOptionee, and (iv) the Optionee's name shall have been entered as a stockholder of record on the books of the Company. Thereupon, the Optionee shall have full voting, dividend and other ownership rights with respect to such shares of Common Stock.
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