Common use of Each of Xxxx X Clause in Contracts

Each of Xxxx X. Xxxxxx, Xxxx X. Xxxxxxx, Xxxxx Xxxx, Xxxxxx Xxxxxx and Xxxxxxx Xxxxx (the "Tennessee Stockholders") agrees that for a period of two years from August 9, 1999, he will not, directly or indirectly, Transfer or agree or attempt to Transfer any interest in any common stock of the Company now owned beneficially (within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934) by him without my express prior written consent. It is agreed that consent for Transfers by the Tennessee Stockholders will be granted for all or part of the common stock whenever a requested Transfer will not be expected to adversely affect the best interest of the Company in my judgment. The term "Transfer" means any offer, sale, assignment, transfer, conveyance, pledge, hypothecation, or other similar transaction (whether for consideration or as a gift) of any Company common stock or any interest therein, including purchasing, granting or creating any options, warrants, security convertible into such person's common stock, or any other type of derivative security or derivative transaction (including short sales, sales against the box or forward agreements), or other transactions that have the effect of reducing the economic risk of holding the Company's common stock.

Appears in 5 contracts

Samples: Photogen Technologies Inc, Wachter Eric PHD, Dees Craig PHD

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