Common use of Public Company Clause in Contracts

Public Company. Owner has the option of terminating this Agreement if Licensee’s stock is not publically traded on an over the counter market or on a regional or national exchange by July 1, 2012 and/or does not continue to be publicly traded on an over the counter market or on a regional or national exchange as of July 1, 2012. This termination option shall survive for so long as this condition persists.”

Public Company. Owner has the option of terminating this Agreement if Licensee’s stock is not publically traded on an over the counter open market or on a regional or national financial exchange by July 1October 30, 2012 2011 and/or does not continue to be publicly traded on an over the counter open market or on a regional or national financial exchange as of July 1October 30, 20122011. This termination option shall survive for so long as this condition persists.”