Common use of Additional Key Holders Clause in Contracts

Additional Key Holders. In the event that after the date of this Agreement, the Corporation issues shares of capital stock to any person or entity, which shares constitute one percent (1%) or more of the Corporation’s then outstanding capital stock (including all shares of Common Stock issuable upon exercise of or conversion of outstanding options, warrants or convertible securities, as if exercised or converted), the Corporation shall, as a condition to such issuance, cause such person or entity to execute an instrument of adherence hereto, as a Key Holder, in a form approved by the Board, and such person or entity shall thereby be bound by, and subject to, all the terms and provisions of this Agreement applicable to a Key Holder.