Common use of Issuance of Rights or Options Clause in Contracts

Issuance of Rights or Options. If the Company in any manner grants or sells any Options (other than rights to acquire Excluded Shares), then the total maximum number of shares of Common Stock issuable upon the exercise of such Options, or upon conversion or exchange of the total maximum amount of such Convertible Securities issuable upon the exercise of such Options, shall be deemed to be outstanding and to have been issued and sold by the Company at such time.

Issuance of Rights or Options. If the Company in any manner issues, grants or sells (or otherwise becomes subject to) any Options (other than rights to acquire Excluded Shares)or Options for Convertible Securities, then the total maximum number of shares of Common Stock issuable upon the exercise of such Options, Options or upon conversion or exchange of the total maximum amount of such Convertible Securities issuable upon the exercise of such Options, Options shall be deemed to be outstanding have been sold on the date of issuance, grant or sale of such Options and to have been issued and sold by the Company at such timebe outstanding.