Common use of Executive Officer Status Clause in Contracts

Executive Officer Status. Executive acknowledges that he will be an "executive officer" of the Company for purposes of the Securities Act of 1933 as amended (the "1933 Act"), and the Securities Exchange Act of 1934 as amended (the "1934 Act"), and he will comply in all respects with all the rules and regulations under the 1933 Act and the 1934 Act applicable to him in a timely and non-delinquent manner. In order to assist the company in complying with its obligations under the 1933 Act and the 1934 Act, Executive will provide to the Company such information about Executive as the Company will reasonably request including, but not limited to, information relating to personal history and stockholdings. Executive will report to the General Counsel of the Company or other designated officer of the Company all changes in beneficial ownership of any shares of the Company Common and Preferred Stock deemed to be beneficially owned by Executive and/or any members of Executive's family.