Purposes of the Plan Clause Example from Business Contracts

Purposes of the Plan. The purposes of this 2007 Stock Plan are to attract and retain the best available personnel for positions of substantial responsibility, to provide additional incentive to Employees and Consultants and to promote the success of the Company's business. Options granted under the Plan may be Incentive Stock Options or Nonstatutory Stock Options, as determined by the Administrator at the time of grant of an option and subject to the applicable provisions of Section 422 of the Code and the regulation...s and interpretations promulgated thereunder. Stock purchase rights may also be granted under the Plan. Effective July 17, 2014, the Plan was amended and restated and renamed the Neothetics, Inc. 2007 Stock Plan. Except as otherwise provided below, the provisions of the Plan apply equally to grants made on or after the date of such amendment and restatement. View More