Share options; restrictions and conditions for owners of specified percentage of shares. A A corporation may issue rights, options, or warrants for the purchase of shares of the corporation.
The board of directors shall determine the terms enter token which the rights, options, or warrants are issued, their form and content, and the consideration for which the shares options 33 to be issued. B In the case of a public corporation, the terms and conditions of options 33 rights, options, or warrants may include, without limitation, restrictions or conditions that preclude or limit the exercise, transfer, or receipt of the rights, options, or warrants by the holder or holders or beneficial owner or owners of a specified number or percentage of the outstanding options 33 shares of the public corporation or by any transferee or any such holder or owner, or that invalidate or void the rights, options, or warrants held by the holder or owner or by the transferee.
Determinations by the board of directors whether to impose, enforce, waive, or otherwise render ineffective any such restrictions or conditions may be judicially reviewed in an appropriate proceeding. Disclaimer: These codes may not be the most recent version.
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