Option Holders. Upon the exercise of a stock Option held by any Stockholder party hereto, the rights, benefits, obligations, restrictions and duties contained in this Agreement with respect to the shares of Company Stock received pursuant to such exercise shall automatically, without any further action, apply, and Stockholder shall become bound by and entitled to the rights, benefits, obligations, restrictions and duties under this Agreement which are so applicable.
Appears in 3 contracts
Sources: Stockholders Agreement, Stockholders Agreement (El Pollo Loco Holdings, Inc.), Stockholders Agreement (EPL Intermediate, Inc.)