Common use of Options/Option Certificates Clause in Contracts

Options/Option Certificates. Each Option shall entitle the holder ("the Registered Holder") or in the aggregate, the " Registered Holders ") in whose name the Option Certificate shall be registered on the books maintained by the Company to purchase one (1) share of the Company's $0.00067 par value Common Stock (the Option Share or Option Shares) on exercise thereof, subject to modification and adjustment as provided in Section 7. The Option Certificate representing the right to purchase Option Shares shall he executed by the Company's Chief Executive Officer or President and attested to by the Company's Secretary and delivered to the Registered Holder upon execution of this Agreement. Subject to the provisions of Sections 3, 5 and 6, the Company shall deliver Option Certificates in required whole number denominations to the Registered Holder (or Registered Holders) in connection with any transfer or exchange permitted under this Agreement. Except as provided in Section 6 hereof, no Option Certificates shall be issued except: (i) Option Certificates initially issued hereunder; (ii) Option Certificates issued on or after the initial issuance date, upon the exercise of any Options, to evidence the unexercised Options held by the exercising Registered Holder; or (iii) Option Certificates issued after the initial issuance date upon any transfer or exchange of Option Certificates or replacement of lost or mutilated Option Certificates.

Options/Option Certificates. Each Option shall entitle the holder thereof ("the “Registered Holder") or ” or, in the aggregate, the " “Registered Holders ") Holders”), in whose name the Option Certificate shall be registered on the books maintained by the Company Company, to purchase one (1) share of the Company's company’s $0.00067 0.0001 par value Common Stock (the “Option Share Share” or “Option Shares”) on exercise thereofthereof at the Option Exercise Price (set forth in Section 3 below), subject to modification and adjustment as provided in Section 7. The Option Certificate representing the right to purchase Option Shares shall he be executed by the Company's Chief Executive Officer ’s Secretary or President and attested to by the Company's Assistant Secretary and delivered to the Registered Holder upon execution of this Agreement. Subject to the provisions of Sections 3, 5 and 6, the Company shall deliver Option Certificates in required whole number denominations to the Registered Holder (or Registered Holders) Holders in connection with any transfer or exchange permitted under this Agreement. Except as provided in Section 6 hereof, no Option Certificates shall be issued except: (i) Option Certificates initially issued hereunder; (ii) Option Certificates issued on or after the initial issuance date, upon the exercise of any Options, to evidence the unexercised Options held by the exercising Registered Holder; or (iii) Option Certificates issued after the initial issuance date upon any transfer or exchange of Option Certificates or replacement of lost or mutilated Option Certificates.

Options/Option Certificates. Each Option shall entitle the holder (the "the Registered Holder") " or in the aggregate, the " "Registered Holders Holders") in whose name the Option Certificate shall be registered on the books maintained by the Company to purchase one such number of equivalent units of securities (1"Option Units" or "Option Shares") share offered by the Company in an initial public offering of its securities at an aggregate offering price of at least $60,000 pursuant to an effective registration statement filed under the Company's $0.00067 par value Common Stock Securities Act of 1933, as amended ("Act"), that closes prior to June 30, 1996 (the Option Share or Option "IPO") Shares) on exercise thereof"), as determined by dividing the principal amount of Notes subscribed for by the Registered Holder by the IPO Unit offering price, subject to modification and adjustment as provided in Section 7. The Option Certificate representing the right to purchase Option Shares Units shall he be executed by the Company's Chief Executive Officer or President and attested to by the Company's Secretary or Assistant Secretary and delivered to the Registered Holder upon execution of this Agreement. Subject to the provisions of Sections 3, 5 and 6, the Company shall deliver Option Certificates in required whole number denominations to the Registered Holder (or Registered Holders) Holders in connection with any transfer or exchange permitted under this Agreement. Except as provided in Section 6 hereof, no Option Certificates shall be issued except: except (i) Option Certificates initially issued hereunder; , (ii) Option Certificates issued on or after the initial issuance date, upon the exercise of any Options, to evidence the unexercised Options held by the exercising Registered Holder; or (iii) Option Certificates issued after the initial issuance date upon any transfer or exchange of Option Certificates or replacement of lost or mutilated Option Certificates.

Options/Option Certificates. Each Option shall entitle the holder (the "the Registered Holder") " or in the aggregate, the " "Registered Holders Holders") in whose name the Option Certificate shall be registered on the books maintained by the Company to purchase one (1) share of the Company's $0.00067 .01 par value Common Stock (the "Option Share Share" or "Option Shares") on exercise thereof, subject to modification and adjustment as provided in Section 7. The Option Certificate representing the right to purchase Option Shares shall he be executed by the Company's Chief Executive Officer or President and attested to by the Company's Secretary or Assistant Secretary and delivered to the Registered Holder upon execution of this Agreement. Subject to the provisions of Sections 3, 5 and 6, the Company shall deliver Option Certificates in required whole number denominations to the Registered Holder (or Registered Holders) Holders in connection with any transfer or exchange permitted under this Agreement. Except as provided in Section 6 hereof, no Option Certificates shall be issued except: except (i) Option Certificates initially issued hereunder; , (ii) Option Certificates issued on or after the initial issuance date, upon the exercise of any Options, to evidence the unexercised Options held by the exercising Registered Holder; or (iii) Option Certificates issued after the initial issuance date upon any transfer or exchange of Option Certificates or replacement of lost or mutilated Option Certificates.