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.
In the eventif the exercise of the Option following the terminationcessation of Optioneethe Participant’s status as a Service Provider (other than upon the Participant’s death or Disability) would be prohibited at any time solely because the issuance of sharesShares would violate the registration requirements under the Securities Act of 1933, as amended (the Securities Act),Act, then the Option shallwill terminate on the earlier of # the Term/Expiration Dateexpiration of the Option as set forth interm of the Grant NoticeOption or # the expiration of a period of three (3) monthsthirty (30) days after the terminationcessation of Optioneethe Participant’s status as a Service Provider during which the exercise of the Option would not be in violation of such registration requirements.
In the eventRegulatory Extension. A Holders Option Agreement may provide that if the exercise of the Option following the termination of Optioneethe 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 of 1933, as amended (the Securities Act),Act, then the Option shall terminate on the earlier of #(in the Term/Expiration Dateexpiration of the term of the Option as set forth in the Grant NoticeSection 8 hereof or # the expiration of a period of three (3) months after the termination of Optioneethe Holders status as a Service Provider during which the exercise of the Option would not be in violation of such registration requirements.
InExtension of Termination Date. If following the eventOptionee’s termination of Continuous Service for any reason the exercise of the Option following the termination of Optionees status as a Service Provider would beis prohibited at any time solely because the issuanceexercise of sharesthe Option would violate the registration requirements under the Securities Act or any other state or federal securities law or the rules of 1933, as amended (the Securities Act),any securities exchange or interdealer quotation system, then the expiration of the Option shall terminate onbe tolled until the earlier of #date that is thirty (30) days after the Term/Expiration Dateend 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 or other securities 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.