Common use of Share Limit Clause in Contracts

Share Limit. Subject to Section Section 11. and Section 17.2, the aggregate number of Shares which may be issued under the Plan shall be the most recent “Cumulative Share Reserve” entry set forth on the Share Reserve Schedule attached as Exhibit A to the Plan (the “Authorized Share Limit”); provided, however, that if the corporate records of the Company (e.g., consents, resolutions or minutes) show that the “Cumulative Share Reserve” entry is outdated, then the Authorized Share Limit evidenced by such corporate records will control, and the Company shall update the Share Reserve Schedule to reflect such corporate records as soon as practicable. The number of Shares which are subject to Options or other rights to acquire Shares pursuant to Awards which are outstanding at any time shall not exceed the number of Shares which then remain available for issuance under the Plan. The Company, during the term of the Plan, shall at all times reserve and keep available sufficient Shares to satisfy the requirements of the Plan. Shares offered under the Plan may be authorized but unissued Shares or reacquired Shares, including Shares forfeited to or repurchased by the Company on the open market or otherwise.

Appears in 1 contract

Sources: Equity Incentive Plan

Share Limit. Subject to Section Section 11. 11 and Section 17.2, the aggregate number of Shares which may be issued under the Plan shall be the most recent “Cumulative Share Reserve” entry set forth on the Share Reserve Schedule attached as Exhibit A to the Plan (the “Authorized Share Limit”); provided, however, that if the corporate records of the Company (e.g., consents, resolutions or minutes) show that the “Cumulative Share Reserve” entry is outdated, then the Authorized Share Limit evidenced by such corporate records will control, and the Company shall update the Share Reserve Schedule to reflect such corporate records as soon as practicable. The number of Shares which are subject to Options or other rights to acquire Shares pursuant to Awards which are outstanding at any time shall not exceed the number of Shares which then remain available for issuance under the Plan. The Company, during the term of the Plan, shall at all times reserve and keep available sufficient Shares to satisfy the requirements of the Plan. Shares offered under the Plan may be authorized but unissued Shares or reacquired Shares, including Shares forfeited to or repurchased by the Company on the open market or otherwise.

Appears in 1 contract

Sources: Stock Plan (Life Spectacular, Inc.)