Exhibit 10.2
MannKind Corporation
2004 Employee Stock Purchase Plan
Adopted by the Board of Directors March 23, 2004
Approved by Stockholders March 23, 2004
Amended by the Board of Directors February 21, 2018
Amended Plan Approved by the Stockholders May 16, 2018
Amended by the Board of Directors March 17, 2023
Amended Plan Approved by the Stockholders May 25, 2023
As used in the Plan and any Offering, unless otherwise specified, the following terms have the meanings set forth below:
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Subject to the provisions of Section 14(a) relating to adjustments upon changes in Common Stock, the stock that may be sold pursuant to Purchase Rights granted under the Plan shall not exceed in the aggregate seven million six hundred eighty-six thousand one hundred forty (7,686,140) shares of Common Stock.
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The Company shall seek to obtain from each federal, state, foreign or other regulatory commission or agency having jurisdiction over the Plan such authority as may be required to issue and sell shares of Common Stock upon exercise of the Purchase Rights. If, after commercially reasonable efforts, the Company is unable to obtain from any such regulatory commission or agency the authority that counsel for the Company deems necessary for the lawful issuance and sale of shares of Common Stock under the Plan, the Company shall be relieved from any liability for failure to issue and sell shares of Common Stock upon exercise of such Purchase Rights unless and until such authority is obtained.
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Proceeds from the sale of shares of Common Stock pursuant to Purchase Rights shall constitute general funds of the Company.
A Participant shall not be deemed to be the holder of, or to have any of the rights of a holder with respect to, shares of Common Stock subject to Purchase Rights unless and until the Participant’s shares of Common Stock acquired upon exercise of Purchase Rights are recorded in the books of the Company (or its transfer agent).
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The Plan shall become effective as determined by the Board, but no Purchase Rights shall be exercised unless and until the Plan has been approved by the stockholders of the Company within twelve (12) months before or after the date the Plan is adopted by the Board.
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