Common use of Future Shares and Rights Clause in Contracts

Future 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 Initial Term, without the prior approval of a majority of the Non-employee Directors any shares of Common Stock of which Executive becomes beneficial owner during the Initial Term as a result of direct issuance of shares by the Company or upon exercise of the Initial Option or any options to purchase shares of Common Stock granted after the Initial Option.