Regulatory Extension. A Holders Option Agreement may provide that if the exercise of the Option following the termination of the Holders status as a Service Provider would be prohibited at any time solely because the issuance of shares would violate the registration requirements under the Securities Act, then the Option shall terminate on the earlier of (in the expiration of the term of the Option set forth in Section 8 hereof or # the expiration of a period of three (3) months after the termination of the Holders status as a Service Provider during which the exercise of the Option would not be in violation of such registration requirements.
In the event the exercise of the Option following the termination of Optionees status as a Service Provider would be prohibited at any time solely because the issuance of shares would violate the registration requirements under the Securities Act of 1933, as amended (the Securities Act), then the Option shall terminate on the earlier of # the Term/Expiration Date of the Option as set forth in the Grant Notice or # the expiration of a period of three (3) months after the termination of Optionees status as a Service Provider during which the exercise of the Option would not be in violation of such registration requirements.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.