Shares Subject to the Plan Clause Example from Business Contracts

Shares Subject to the Plan. (a) The number of Shares which may be issued from time to time pursuant to this Plan shall be 2,348,321, or the equivalent of such number of Shares after the Administrator, in its sole discretion, has interpreted the effect of any stock split, stock dividend, combination, recapitalization or similar transaction in accordance with Paragraph 23 of the Plan. The maximum number of Shares that may be granted pursuant to ISOs shall be 2,348,321 Shares, or the equivalent of such number of Shares after ...the Administrator, in its sole discretion, has interpreted the effect of any stock split, stock dividend, combination, recpapitalization or similar transaction in accordance with Paragraph 23 of the Plan. (b) If an Option or RSU ceases to be "outstanding," in whole or in part (other than by exercise or settlement), or if the Company shall reacquire (at not more than its original issuance price) any Shares issued pursuant to a Stock Grant, or if any Stock Right expires is forfeited, cancelled or otherwise terminated or results in any Shares not being issued, the unissued Shares which were subject to such Stock Right shall again be available for the granting of other Stock Rights under the Plan. Any Option or RSU shall be treated as "outstanding" until such Option or RSU is exercised or settled in full, or terminates or expires under the provisions of the Plan, or by agreement of the parties to the pertinent Award Agreement. Notwithstanding the foregoing, if 3 a Stock Right is exercised or settled, in whole or in part, by tender of Shares or if the Company's tax withholding obligation is satisfied by withholding Shares, the number of Shares deemed to have been issued under the Plan for purposes of the limitation set forth in Paragraph 3(a) above shall be the number of Shares that were subject to the Stock Right or portion thereof, and not the net number of Shares actually issued. View More