Common use of Excluded Shares Clause in Contracts

Excluded Shares. Section 5. 1 shall not apply to the (i) issuance of shares of Common Stock, or options therefor, to directors, officers, employees, advisors and consultants of the Company pursuant to any stock option, stock purchase, stock ownership or compensation plan approved by the compensation committee of the Company's Board of Directors, and (ii) issuance of shares of Common Stock upon the exercise of any warrants to purchase Common Stock issued and outstanding prior to the date of the issuance of the Warrants to purchase Common Stock issued and outstanding prior to the date of the issuance of the Warrants.

Excluded Shares. Section 5. 1 5.1 shall not apply to the (i) issuance of shares of Common Stock, or options therefor, to directors, officers, employees, advisors and consultants of the Company pursuant to any stock option, stock purchase, stock ownership or compensation plan approved by the compensation committee of the Company's Board of Directors, and (ii) issuance of shares of Common Stock upon the exercise of any warrants to purchase Common Stock issued and outstanding prior to the date of the issuance of the Warrants to purchase Common Stock issued and outstanding prior to the date of the issuance of the Warrants.