Common use of Current Shares and Rights Clause in Contracts

Current Shares and Rights. Subject to Section 8.2(c), Executive hereby covenants and agrees that he will not dispose of, pledge, sell or transfer, at any time during the two (2) year period following the date of this Agreement, without the prior approval of a majority of the non-employee directors of the Company (within the meaning of Rule 16b-3 under the 1934 Act) ("Non-employee Directors"), any shares of Common Sxxxx xx which Executive is beneficial owner (including, but not limited to, all shares of Common Stock underlying any options to purchase shares of Common Stock) as of the date hereof (but excluding the Initial Option), regardless of how Executive obtained such beneficial ownership of shares of Common Stock (or shares of Common Stock underlying options).