No Pledge. Unless a majority of the members of the Board of Directors consent, Shares may not be pledged, mortgaged or otherwise encumbered to secure indebtedness for money borrowed or any other obligation for which the Optionee is primarily or secondarily liable.
Appears in 37 contracts
Samples: Stock Option Agreement (Samaritan Pharmaceuticals Inc), Stock Option Agreement (Xsunx Inc), Stock Option Agreement (Xsunx Inc)
No Pledge. Unless a majority of the members of the Board of Directors consent, Shares may not be pledged, mortgaged or otherwise encumbered to secure indebtedness for money borrowed or any other obligation for which the Optionee Employee is primarily or secondarily liable.
Appears in 10 contracts
Samples: Stock Bonus Agreement (Accesspoint Corp /Nv/), Stock Bonus Agreement (Accesspoint Corp /Nv/), Stock Bonus Agreement (Accesspoint Corp /Nv/)
