Stock Clause Example from Business Contracts

Stock. (a) The maximum number of shares of Common Stock which shall be made available for sale under the Plan shall be Two Million (2,000,000) shares, subject to adjustment upon changes in capitalization of the Company as provided in Section 18 hereof. If on a given Exercise Date the number of shares with respect to which options are to be exercised exceeds the number of shares then available under the Plan, the Company shall make a pro rata allocation of the shares remaining available for purchase in ...as uniform a manner as shall be practicable and as it shall determine to be equitable. (b) No participant will have an interest or voting right in shares covered by his or her option until such option has been exercised. (c) Shares to be issued to a participant under the Plan will be registered in the record or beneficial name of the participant or in the record or beneficial name of the participant and his or her spouse. View More