Common use of First Refusal Rights Clause in Contracts

First Refusal Rights. Until such time as the Common Stock is first registered under Section 12 of the 1934 Act, the Corporation shall have the right of first refusal with respect to any proposed disposition by the Participant (or any successor in interest) of any shares of Common Stock issued under the Stock Issuance Program. Such right of first refusal shall be exercisable in accordance with the terms established by the Plan Administrator and set forth in the document evidencing such right.

First Refusal Rights. Until such time as the Common Stock is first registered under Section 12 of the 1934 Act, the Corporation shall have the right of first refusal with respect to any proposed disposition by the Participant Optionee (or any successor in interest) of any shares of Common Stock issued under the Stock Issuance ProgramPlan. Such right of first refusal shall be exercisable in accordance with the terms established by the Plan Administrator and set forth in the document evidencing such right.

First Refusal Rights. Until such time as the Common Stock or Other Securities is first registered under Section 12 12(b) or 12(g) of the 1934 Act, the Corporation Company shall have the right of first refusal with respect to any proposed disposition by the Participant Holder (or any successor in interest) of any shares of Common Stock issued under or Other Securities (which right the Stock Issuance ProgramCompany may assign to Stellex Industries). Such right of first refusal shall be exercisable in accordance with the terms established by the Plan Administrator and set forth in the document evidencing such rightBoard.

First Refusal Rights. Until such time as the Common Stock is first registered under Section 12 12(g) of the 1934 Act, the Corporation shall have the right of first refusal with respect to any proposed disposition by the Participant Optionee (or any successor in interest) of any shares of Common Stock issued under the Stock Issuance ProgramPlan. Such right of first refusal shall be exercisable in accordance with the terms established by the Plan Administrator and set forth in the document evidencing such right.