Share Limits Sample Clauses
The Share Limits clause sets a maximum threshold on the number or percentage of shares that can be issued, transferred, or held by a party under an agreement. In practice, this clause may restrict a shareholder from acquiring more than a specified percentage of a company’s total shares, or limit the issuance of new shares to prevent dilution of existing ownership. Its core function is to maintain control over the company’s ownership structure and prevent any single party from gaining disproportionate influence or control, thereby protecting the interests of all shareholders.
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Share Limits. The maximum aggregate number of Common Shares that may be delivered pursuant to awards granted to Eligible Persons under this Plan (the “Share Limit”) is 1,000,000 Common Shares. The following limits also apply with respect to awards granted under this Plan:
4.2.1 the maximum number of Common Shares subject to awards that are granted during any single calendar year under this Plan (the “Annual Award Cap”) is such number as equals 10% of the Corporation’s issued and outstanding Common Shares as of the first business day of such calendar year;
4.2.2 the maximum number of Common Shares subject to those options and stock appreciation rights that are granted during any calendar year to any individual under this Plan is 250,000 Common Shares; and
4.2.3 to the extent that awards are made under this Plan in forms other than awards of stock options, the Annual Award Cap shall be reduced so that the total accounting charge (under U.S. generally accepted accounting principles) to the Corporation in any single year in which such awards are made shall not be greater than it would have been if all awards made in that year had been made in the form of stock options. Each of the foregoing numerical limits is subject to adjustment as contemplated by Section 4.3, Section 7.1, and Section 8.10.
Share Limits. The aggregate maximum number of Shares that may be issued in connection with ISOs shall be 750,000 Shares, subject to adjustment pursuant to Section 10 of the Plan.
Share Limits. The maximum number of shares of Common Stock that may be delivered pursuant to awards granted to Eligible Persons under this Plan (the “Share Limit”) is equal to the sum of (a) 3,244,279 shares, plus (b) the number of any shares subject to stock options granted under the Corporation’s 1995 Stock Option Plan (the “1995 Plan”) and outstanding as of the date the Board approved this amended version of the Plan (the “Board Approval Date”) which expire, or for any reason are cancelled or terminated, after the Board Approval Date without being exercised; provided that in no event shall the Share Limit exceed 6,108,450 shares (which is the sum of the 3,244,279 shares set forth above, plus the maximum number of shares subject to options previously granted and outstanding under the 1995 Plan as of the Board Approval Date).
(1) The following limits also apply with respect to awards granted under this Plan:
(a) The maximum number of shares of Common Stock that may be delivered pursuant to options qualified as incentive stock options granted under this Plan is 450,000 shares, subject to the Plan limit set forth above.
(b) The maximum number of shares of Common Stock subject to those options and stock appreciation rights that are granted during any calendar year to any individual under this Plan is 750,000 shares.
(c) The maximum number of shares of Common Stock that may be delivered pursuant to awards granted under this Plan, other than pursuant to those described in the next sentence, is 1,400,000. This limit does not apply, however, to (1) shares delivered in respect of compensation earned but deferred, (2) except as expressly provided in Section 5.1.1 (which generally requires that shares delivered in respect of “discounted” stock options be charged against this limit), shares delivered in respect of stock option grants, and (3) except as expressly provided in Section 5.1.2 (which generally requires that shares delivered in respect of “discounted” stock appreciation right grants be charged against this limit), shares delivered in respect of stock appreciation right grants.
(d) Additional limits with respect to Performance-Based Awards are set forth in Section 5.2.3. Each of the foregoing numerical limits is subject to adjustment as contemplated by Section 4.3, Section 7.1, and Section 8.10.
(1) As of the Board Approval Date, the aggregate share limit was 1,994,279 shares, as previously adjusted and subject to future adjustment pursuant to clause (b) of the first sen...
Share Limits. The Company will not take any action which would ------------ result in any adjustment of the Exercise Price if the total number of shares of Common Stock issuable after such action upon exercise of this Warrant, together with all shares of Common Stock then outstanding and all shares of Common Stock issuable upon exercise of options or warrants to acquire such shares and upon conversion of instruments which are convertible into such shares, would exceed the total number of shares of Common Stock then authorized under the Articles of Incorporation;
Share Limits