Common use of Rights of Holder Clause in Contracts

Rights of Holder. No person shall, by virtue of the granting of this Option to the Holder, be deemed to be a holder of any shares purchasable under this Option or to be entitled to the rights or privileges of a holder of such shares unless and until this Option has been exercised with respect to such shares and they have been issued pursuant to that exercise of this Option. The granting of this Option shall not impose upon the Company any obligations to employ or to continue to employ the Holder; and the right of the Company to terminate the services of the Holder shall not be diminished or affected by reason of the fact that this Option has been granted to the Holder. The Company shall, at all times while any portion of this Option is outstanding, reserve and keep available, out of shares of its authorized and unissued stock or reacquired shares, a sufficient number of shares of its Common Stock to satisfy the requirements of this Option; shall comply with the terms of this Option promptly upon exercise of the Option rights; and shall pay all fees or expenses necessarily incurred by the Company in connection with the issuance and delivery of shares pursuant to the exercise of this Option.

Rights of Holder. No person shall, by virtue of the granting of this Option to the Holder, be deemed to be a holder of any shares purchasable under this Option or to be entitled to the rights or privileges of a holder of such shares unless and until this Option has been exercised with respect to such shares and they have been issued pursuant to that exercise of this Option. The granting of this Option shall not impose upon the Company any obligations to employ or to continue to employ the Holder; and the right of the Company to terminate the services employment of the Holder shall not be diminished or affected by reason of the fact that this Option has been granted to the Holder. The Company shall, at all times while any portion of this Option is outstanding, reserve and keep available, out of shares of its authorized and unissued stock or reacquired shares, a sufficient number of shares of its Common Stock to satisfy the requirements of this Option; shall comply with the terms of this Option promptly upon exercise of the Option rights; and shall pay all fees or expenses necessarily incurred by the Company in connection with the issuance and delivery of shares pursuant to the exercise of this Option.

Rights of Holder. No person shall, by virtue of the granting of this Option to the Holder, be deemed to be a holder of any shares purchasable under this Option or to be entitled to the rights or privileges of a holder of such shares unless and until this Option has been exercised with respect to such shares and they such shares have been issued pursuant to that exercise of this Option. The granting of this Option shall not impose upon the Company any obligations to employ or to continue to employ the Holder; and the right of the Company to terminate the services of the Holder shall not be diminished or affected by reason of the fact that this Option has been granted to the Holder. The Company shall, at all times while any portion of this Option is outstanding, reserve and keep available, out of shares of its authorized and unissued stock or reacquired shares, a sufficient number of shares of its Common Stock to satisfy the requirements of this Option; shall comply with the terms of this Option promptly upon exercise of the Option rights; and shall pay all fees or expenses necessarily incurred by the Company in connection with the issuance and delivery of shares pursuant to the exercise of this Option.

Rights of Holder. No person shall, by virtue of the granting of this Option to the Holder, be deemed to be a holder of any shares purchasable under this Option or to be entitled to the rights or privileges of a holder of such shares unless and until this Option has been exercised with respect to such shares and they have been issued pursuant to that exercise of this Option. The granting of this Option shall not impose upon the Company any obligations to employ or to continue to employ the Holder’s services to the Company; and the right of the Company to terminate the services of the Holder shall not be diminished or affected by reason of the fact that this Option has been granted to the Holder. The Company shall, at Nothing herein contained shall impose any obligation upon the Holder to exercise this Option. At all times while any portion of this Option is outstanding, the Company shall: reserve and keep available, out of shares of its authorized and unissued stock or reacquired shares, a sufficient number of shares of its Common Stock to satisfy the requirements of this Option; shall comply with the terms of this Option promptly upon exercise of the Option rights; and shall pay all fees or expenses necessarily incurred by the Company in connection with the issuance and delivery of shares pursuant to the exercise of this Option.

Rights of Holder. No person shall, by virtue of the granting of this Option option to the Holder, be deemed to be a holder of any shares purchasable under this Option option or to be entitled to the rights or privileges of a holder of such shares unless and until this Option option has been exercised with respect to such shares and they have been issued pursuant to that exercise of this Optionoption. The granting of this Option option shall not impose upon the Company any obligations to employ or to continue to employ the Holder; and the right of the Company to terminate the services employment of the Holder shall not be diminished or affected by reason of the fact that this Option option has been granted to the Holder. The Company shall, at all times while any portion of this Option option is outstanding, : reserve and keep available, out of shares of its authorized and unissued stock or reacquired shares, a sufficient number of shares of its Common Stock to satisfy the requirements of this Optionoption; shall comply with the terms of this Option option promptly upon exercise of the Option option rights; and shall pay all fees or expenses necessarily incurred by the Company in connection with the issuance and delivery of shares pursuant to the exercise of this Optionoption.