Common use of Management Investors Clause in Contracts

Management Investors. Each employee or director of the Company or any of its Subsidiaries who becomes party to a stock subscription agreement or option agreement with any of the Company and its Subsidiaries after the date hereof shall become a party hereto and shall be bound hereby. The Company shall not issue any securities to an employee or director of the Company or any of its Subsidiaries unless he or she enters into a supplementary agreement with the Company agreeing to be bound by the terms hereof in the same manner as the other Management Investors. Each such supplementary agreement shall become effective upon its execution by the Company and such employee or director, and it shall not require the signature or consent of any other party hereto. Such supplementary agreement may modify some of the terms hereof as they effect such employee or director; provided that the modified terms shall be no more favorable to such employee or director than the terms set forth herein.