Example ContractsClausesAutomatic Share Reserve Increase
Automatic Share Reserve Increase
Automatic Share Reserve Increase contract clause examples

Automatic Share Reserve Increase. The number of Shares available for issuance under the Plan will be increased on the first day of each Fiscal Year beginning with the 2011 Fiscal Year, in an amount equal to the least of # 5,333,333 Shares, # four percent (4%) of the outstanding Shares on the last day of the immediately preceding Fiscal Year or # such number of Shares determined by the Board.

Automatic Share Reserve Increase. The number of Shares available for grant and issuance under the Plan shall be increased on January 1, of each of 2019 through 2028, by the lesser of # four percent (4%) of the number of issued and outstanding Shares on each December 31 immediately prior to the date of increase or # such number of Shares determined by the Board.

Automatic Share Reserve Increase. The number of Shares available for issuance under the Plan will be increased on the first day of each Fiscal Year beginning with the 2016 Fiscal Year, in an amount equal to the least of # four percent (4%) of the outstanding Shares on the last day of the immediately preceding Fiscal Year or # such number of Shares determined by the Board.

Automatic Share Reserve Increase. Subject to the provisions of Section 14 of the Plan, the number of Shares available for issuance under the Plan will be increased on the first day of each Fiscal Year beginning with the 2021 Fiscal Year, in an amount equal to the least of # 3,140,062 Shares, # five percent (5%) of the outstanding Shares on the last day of the immediately preceding Fiscal Year, or # such number of Shares determined by the Administrator no later than the last day of the immediately preceding Fiscal Year.

Automatic Share Reserve Increase. The number of Shares available for issuance under the Plan will be increased on the first day of each Fiscal Year beginning with the

Automatic Share Reserve Increase. The number of Shares available for grant and issuance under the Plan shall be increased on January 1, of each of 2018 through 2027, by the lesser of # five percent (5%) of the number of Shares issued and outstanding on each December 31 immediately prior to the date of increase or # such number of Shares determined by the Board.

Automatic Share Reserve Increase. Subject to the provisions of Section 13 of the Plan, the number of Shares available for issuance under the Plan will be increased on the first day of each Fiscal Year beginning with the 2021 Fiscal Year and ending with the 2029 Fiscal Year, in an amount equal to the least of # 8,768,000 Shares, # 4% of the outstanding shares of common stock of the Company (including for this purpose both voting common stock and non-voting common stock) on the last day of the immediately preceding Fiscal Year or # such number of Shares determined by the Board.

Automatic Share Reserve Increase. The number of Shares available for grant and issuance under the Plan shall be increased on January 1, of each of 2018 through 2027, by the lesser of # five percent (5%) of the number of Shares issued and outstanding on each December 31 immediately prior to the date of increase or # such number of Shares determined by the Board.

Automatic Share Reserve Increase. The number of Shares available for grant and issuance under the Plan will be increased on January 1 of each of the first ten (10) calendar years during the term of the Plan by the lesser of # four percent (4%) of the number of shares of all classes of the Company’s common stock issued and outstanding on each December 31 immediately prior to the date of increase or # such number of Shares determined by the Board.

Automatic Share Reserve Increase. The number of Shares available for grant and issuance under the Plan shall be increased on October 1, of each of the first four (4) calendar years during the term of the Plan, by the lesser of # five percent (5%) of the number of Shares issued and outstanding on each September 30 immediately prior to the date of increase or # such number of Shares determined by the Board.

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