Common use of Rights of Stockholder Clause in Contracts

Rights of Stockholder. The Holder shall not have any of the rights of a stockholder with respect to the Common Stock covered by the option until the date of the issuance of a stock certificate for shares of Common Stock purchased hereunder. 4. Transferability. This option and the rights conferred may not be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process. Upon any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of this option or any right conferred hereby, or upon the levy of any attachment or similar process on the rights conferred hereby, this option and the rights conferred hereby shall immediately become null and void. 5.