Common use of Executive Options Clause in Contracts

Executive Options. PARENT shall have amended its executive ------------------ stock option plan or adopted a new stock option plan authorizing the issuance of up to an additional 7,000,000 shares of its common stock, and such action shall have been approved by request consent of PARENT's stockholders. The shares of PARENT Common Stock issuable upon exercise of the Executive Options will be registered under all applicable provisions of the Securities Act of 1933 pursuant to a duly filed and effective Form S-8 of PARENT promptly after the Closing.

Executive Options. PARENT shall have amended its executive ------------------ stock option plan or adopted a new stock option plan authorizing the issuance of up to an additional 7,000,000 shares of its common stock, and such action shall have been approved by request consent of PARENT's stockholders. The shares of PARENT Common Stock issuable upon exercise of the Executive Options will be registered under all applicable provisions of the Securities Act of 1933 pursuant to a duly filed and effective Form S-8 of PARENT promptly after the Closing.