Common use of APPROVAL OF STOCK OPTION PLAN Clause in Contracts

APPROVAL OF STOCK OPTION PLAN. The Company intends, at its next Annual Meeting of Stockholders (the "Annual Meeting"), to submit for stockholder consideration and approval its 1997 Stock Option Plan (the "Plan"). In the event that the Plan is approved by the Company's stockholders, then this Option shall be deemed to be an Incentive Stock Option (within the meaning of the Internal Revenue Code of 1986, as amended, (the "Code") have been granted under and pursuant to the Plan. If, however, the Plan is not so approved at the Annual Meeting, then this Option shall be deemed to be a non-qualified stock option (which means any option which is not an Incentive Stock Option under the Code).

APPROVAL OF STOCK OPTION PLAN. The Company intends, at its next Annual Meeting of Stockholders Shareholders (the "Annual MeetingANNUAL MEETING"), to submit for stockholder shareholder consideration and approval its 1997 Stock Option Plan (the "PlanPLAN"). In the event that the Plan is approved by the Company's stockholdersshareholders, then this Option shall be deemed to be an Incentive Stock Option (within the meaning of the Internal Revenue Code of 1986, as amended, (the "Code") have been granted under and pursuant to the Plan. If, however, the Plan is not so approved at the Annual Meeting, then this Option shall be deemed to be a non-qualified stock option (which means any option which is not an Incentive Stock Option under the Code).

APPROVAL OF STOCK OPTION PLAN. The Company intends, at its next Annual Meeting of Stockholders (the "Annual Meeting"'), to submit for stockholder consideration and approval its 1997 a Stock Option Plan (the "'Plan"). In the event that the Plan is approved by the Company's stockholders, then this Option shall be deemed to be an Incentive Stock Option (within the meaning of the Internal Revenue Code of 1986, as amended, (the "'Code"') have been granted under and pursuant to the Plan. If, however, the Plan is not so approved at the Annual Meeting, then this Option shall be deemed to be a non-qualified stock option (which means any option which is not an Incentive Stock Option under the Code).

APPROVAL OF STOCK OPTION PLAN. The Company intends, at its next Annual Meeting of Stockholders (the "Annual Meeting"), to submit for stockholder consideration and approval its 1997 Stock Option Plan (the "Plan"). In the event that the Plan is approved by the Company's stockholders, then this Option shall be deemed to be an Incentive Stock Option (within the meaning of the Internal Revenue Code of 1986, as amended, (the "Code") have been granted under and pursuant to the Plan. If, however, the Plan is not so approved at t the Annual Meeting, then this Option shall be deemed to be a non-qualified stock option (which means any option which is not an Incentive Stock Option under the Code).