Subject to Shareholder Approval. To the extent you are a “covered employee” within the meaning of Code Section 162(m), the award and this Agreement are subject to, and conditioned upon, shareholder approval of the material terms of the performance goals stated in Paragraph 6 below.
Subject to Shareholder Approval. As of the date first awarded, the Company did not have sufficient shares available in its authorized share capital, to issue additional shares as would be necessary under the terms of this Stock Option Agreement. The Company is seeking shareholder approval at its annual general meeting to be held on or about February 26, 2010 to increase its authorized share capital to 200,000,000 shares, thus allowing for the issuance of the shares contemplated in this Stock Option Agreement. The Optionee understands that the shares contemplated for issuance under this Stock Option Agreement can therefore not be issued, and the Optionee agrees to not exercise this option to acquire such shares, until such time as shareholder approval has been granted to the Company to increase its shares authorized to sufficient quantity to allow for such shares to be validly issued.
Subject to Shareholder Approval. This Agreement is subject to approval by written consent of the shareholders of the Seller who hold a majority of the total issued and outstanding shares of common stock of the Seller. The Buyer understands that without such approval this Agreement will be terminated.
Subject to Shareholder Approval. This Option shall not be effective or exercisable unless and until the Plan is approved by action of the shareholders of the Company not later than March 29, 2007. If the Plan is not so approved, this Option shall be null and void.
Subject to Shareholder Approval. The Company's execution, delivery and performance of each Transaction Document to which it is a party has been duly authorized by it; Each Transaction Document to which the Company is a party constitutes a valid and binding obligation of the Company which is enforceable against the Company in accordance with its terms, except to the extent that such validity or enforceability may be subject to or affected by any bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally the enforcement of, creditors' rights or remedies of creditors generally, or by other equitable principles of general application; The execution, delivery and performance by the Company of the Transaction Documents to which it is a party do not and will not (a) conflict with or result in a breach of the terms, conditions or provisions of, (b) constitute a default under, (c) result in a violation of, (d) require any authorization, consent, approval, exemption or other action by or declaration or notice to any Government Entity pursuant to, or (e) create any Lien under, the charter or bylaws of the Company or any agreement, instrument, or other document, or any Legal Requirement, to which the Company is, or any of its assets are, subject.
