Common use of Shares Reserved Clause in Contracts

Shares Reserved. The Company will, at all times during the term of this Agreement, reserve and keep available such number of its common shares as will be sufficient to satisfy the requirements of this Agreement and will pay all fees and expenses necessarily incurred by the Company in connection with the issuance of such shares. In the event that the Company should fail to maintain a public market for such underlying shares while such Options are outstanding, then, at the election and sole discretion of the Optionee, the Company will redeem all such Options from the Optionee at a dollar amount equal to the number of outstanding Options multiplied by the exercise price of each such Option, less Fifty Percent (50%).