Common use of AMENDMENT OR ALTERATION Clause in Contracts

AMENDMENT OR ALTERATION. The Board may amend or alter this Option, except that no amendment or alteration shall be made which would impair the rights of the Optionee hereunder, without his consent, and, except further, this Option shall be subject to the requirement that, if, at any time the Board shall determine, in its discretion, that the listing, registration or qualification of the stock issuable or transferable upon exercise thereof upon any securities exchange or under any state or federal law or the consent or approval of any governmental regulatory body is necessary or desirable as a condition of, or in connection with, the granting of this Option or the issue, transfer, or purchase of shares hereunder, this Option may not be exercised in whole or in part unless such listing, registration, qualification, consent, or approval shall have been effected or obtained free of any conditions not acceptable to the Board.

AMENDMENT OR ALTERATION. The Board may amend or alter this OptionOption or the 1998 Plan, except that no amendment or alteration shall be made which would impair the rights of the Optionee hereunder, without his consent, and, except further, this Option shall be subject to the requirement that, if, at any time the Board shall determine, in its discretion, that the listing, registration or qualification of the stock issuable or transferable upon exercise thereof upon any securities exchange or under any state or federal law or the consent or approval of any governmental regulatory body is necessary or desirable as a condition of, or in connection with, the granting of this Option or the issue, transfer, or purchase of shares hereunder, this Option may not be exercised in whole or in part unless such listing, registration, qualification, consent, or approval shall have been effected or obtained free of any conditions not acceptable to the Board.