Common use of Number of Shares Available for Grants Clause in Contracts

Number of Shares Available for Grants. The Plan authorizes the issuance of ten percent (10%) of the Common Stock on a fully-diluted basis on the Effective Date, which equals 2,828,226 Shares, subject to adjustments in accordance with Section 4.2. Shares issued pursuant Awards made pursuant to Section 5.5(b) will not be charged against the Shares authorized for issuance under the Plan. Only Shares actually issued shall be charged against the Shares authorized for issuance under the Plan. If any Shares subject to an Award granted hereunder are forfeited or such Award otherwise terminates without the delivery of such Shares, the Shares subject to such Award, to the extent of any such forfeiture or termination, shall again be available for grant under the Plan. If any Shares subject to an Award granted hereunder are withheld or applied as payment in connection with the exercise of an Award or the withholding or payment of taxes related thereto (“Returned Shares”), such Returned Shares, shall again be available for grant under the Plan. The Committee shall from time to time determine the appropriate methodology for calculating the number of Shares to which an Award relates pursuant to the Plan. Shares delivered pursuant to the Plan may be, in whole or in part, authorized and unissued Shares, or treasury Shares, including Shares repurchased by the Company for purposes of the Plan.

Number of Shares Available for Grants. The Plan authorizes the issuance of ten percent Four Million (10%4,000,000) of the Common Stock on a fully-diluted basis on the Effective Date, which equals 2,828,226 Shares, Shares subject to adjustments in accordance with Section 4.2. 4.2 hereof Shares issued pursuant Awards be made pursuant to Section 5.5(b) hereof will not be charged against the Shares authorized for issuance under the Plan. Only Shares actually issued shall be charged against the Shares authorized for issuance under the Plan. If any Shares subject to an Award granted hereunder are forfeited or such Award otherwise terminates without the delivery of such Shares, the Shares subject to such Award, to the extent of any such forfeiture or termination, shall again be available for grant under the Plan. If any Shares subject to an Award granted hereunder are withheld or applied as payment in connection with the exercise of an Award or the withholding or payment of taxes related thereto (“Returned Shares”), such Returned Shares, shall again be available for grant under the Plan. The Committee shall from time to time determine the appropriate methodology for calculating the number of Shares to which an Award relates pursuant to the Plan. Shares delivered pursuant to the Plan may be, in whole or in part, authorized and unissued Shares, or treasury Shares, including Shares repurchased by the Company for purposes of the Plan.

Number of Shares Available for Grants. The Plan authorizes the issuance of ten percent Ten Million (10%10,000,000) of the Common Stock on a fully-diluted basis on the Effective Date, which equals 2,828,226 Shares, Shares subject to adjustments in accordance with Section 4.2. 4.2 hereof Shares issued pursuant Awards be made pursuant to Section 5.5(b) hereof will not be charged against the Shares authorized for issuance under the Plan. Only Shares actually issued shall be charged against the Shares authorized for issuance under the Plan. If any Shares subject to an Award granted hereunder are forfeited or such Award otherwise terminates without the delivery of such Shares, the Shares subject to such Award, to the extent of any such forfeiture or termination, shall again be available for grant under the Plan. If any Shares subject to an Award granted hereunder are withheld or applied as payment in connection with the exercise of an Award or the withholding or payment of taxes related thereto (“Returned Shares”), such Returned Shares, shall again be available for grant under the Plan. The Committee shall from time to time determine the appropriate methodology for calculating the number of Shares to which an Award relates pursuant to the Plan. Shares delivered pursuant to the Plan may be, in whole or in part, authorized and unissued Shares, or treasury Shares, including Shares repurchased by the Company for purposes of the Plan.