Common use of No Rights as Stockholder Until Exercise Clause in Contracts

No Rights as Stockholder Until Exercise. The Optionee shall have no rights as a stockholder with respect to the Shares until a stock certificate has been issued to the Optionee and is fully paid for in accordance with paragraph 3. With respect to certain changes in the capitalization of the Corporation, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee shall have no rights as a stockholder with respect to the Shares shares subject to this Agreement until a stock certificate therefor has been issued to the Optionee and is fully paid for for. Except as is expressly provided in accordance the Plan with paragraph 3. With respect to certain changes in the capitalization of the CorporationCompany, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee shall have no rights as a stockholder with respect to the Option Shares until a stock certificate has been issued to such time as the Optionee has exercised this option by delivering a notice of exercise and has paid in full the purchase price for the number of shares for which this option is fully paid for to be so exercised in accordance with paragraph 3Section 9. With Except as is expressly provided in the Plan with respect to certain changes in the capitalization of the CorporationCompany, no adjustment shall be made for dividends or similar rights for which the record date is prior to the such date such stock certificate is issuedof exercise.

No Rights as Stockholder Until Exercise. The Optionee shall have no rights as a stockholder with respect to the Option Shares until a stock certificate has been issued to such time as the Optionee has exercised this option by delivering a notice of exercise and has paid in full the purchase price for the number of shares for which this option is fully paid for to be so exercised in accordance with paragraph 3Section 8. With Except as is expressly provided in the Plan with respect to certain changes in the capitalization of the CorporationCompany, no adjustment shall be made for dividends or similar rights for which the record date is prior to the such date such stock certificate is issuedof exercise.

No Rights as Stockholder Until Exercise. The Optionee shall not have no rights as a stockholder with respect to the Shares shares subject to this Agreement until a stock certificate therefor has been issued to the Optionee and is fully paid for in accordance for. Except as is expressly provided below with paragraph 3. With respect to certain changes in the capitalization of the CorporationCompany, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee shall have no rights as a stockholder with respect to the Option Shares subject to this Agreement until a stock certificate therefor has been issued to the Optionee and is fully paid for in accordance with paragraph 3by the Optionee. With respect to certain changes in the capitalization of the Corporation, no No adjustment shall be made made, except adjustments for changes in capitalization pursuant to Section 13 hereof, for dividends (whether in cash, securities or other property) or distributions or other similar rights for which the record date is prior to the this date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee shall have no rights as a stockholder with respect to Shares subject to this Agreement until registration of the Shares until a stock certificate has been issued to in the Optionee and Company's share register in the name of the Optionee. Except as is fully paid for expressly provided in accordance the Plan with paragraph 3. With respect to certain changes in the capitalization of the CorporationCompany, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date of such stock certificate is issuedregistration.

No Rights as Stockholder Until Exercise. The Optionee Employee shall have no --------------------------------------- rights as a stockholder with respect to the Shares shares subject to this Agreement until a stock certificate therefor has been issued to the Optionee Employee and is fully paid for for. Except as is expressly provided in accordance the Plan with paragraph 3. With respect to certain changes in the capitalization of the CorporationCompany, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee shall have no rights as a stockholder with respect to the Option Shares until a stock certificate therefor has been issued to the Optionee and is fully paid for in accordance with paragraph 3Section 7. With Except as is expressly provided in the Plan with respect to certain changes in the capitalization of the Corporation, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee Employee shall have no rights as a stockholder with respect to the Shares shares subject to this Agreement until a stock certificate therefore has been issued to the Optionee Employee and is fully paid for for. Except as is expressly provided in accordance the Plan with paragraph 3. With respect to certain changes in the capitalization of the CorporationCompany, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee Employee shall have no rights as a stockholder with respect to the Option Shares subject to this Agreement until a stock certificate therefor has been issued to the Optionee Employee and is fully paid for by the Employee. Except as is expressly provided in accordance the Plan with paragraph 3. With respect to certain changes in the capitalization of the CorporationCompany, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee shall have no rights as a stockholder with respect to the Shares shares subject to this Agreement until a stock certificate therefore has been issued to the Optionee and is fully paid for for. Except as is expressly provided in accordance the Plan with paragraph 3. With respect to certain changes in the capitalization of the CorporationCompany, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee Recipient shall have no rights as a stockholder with respect to the Shares shares subject to this Agreement until a stock certificate therefor has been issued to the Optionee Recipient and is fully paid for for. Except as is expressly provided in accordance the Plan with paragraph 3. With respect to certain changes in the capitalization of the CorporationCompany, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee shall have no rights as a stockholder with respect to the Option Shares subject to this Agreement until a stock certificate therefor has been issued to the Optionee and is fully paid for in accordance with paragraph 3by the Optionee. With respect to certain changes in the capitalization of the Corporation, no No adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee shall have no --------------------------------------- rights as a stockholder with respect to any of the Option Shares until a stock certificate therefor has been issued to the Optionee and is fully paid for for. Except as is expressly provided in accordance the Plan with paragraph 3. With respect to certain changes in the capitalization of the CorporationCompany, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee shall not have no the rights as of a stockholder shareholder with respect to the Option Shares until the date of issuance by the Company of a stock certificate has been issued to for such shares. Except as expressly provided in paragraph 10 of the Optionee and is fully paid for in accordance Plan with paragraph 3. With respect to certain changes in the capitalization of the Corporationand stock dividends, no adjustment shall be made for dividends or similar rights for which the record date is prior to before the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee Employee shall have --------------------------------------- no rights as a stockholder with respect to the Option Shares until the date of issuance of a stock certificate has been issued to the Optionee and Employee. Except as is fully paid for expressly provided in accordance the Plan with paragraph 3. With respect to certain changes in the capitalization and stock dividends of the CorporationCompany, no adjustment shall be made for dividends or similar rights for which the record date is prior to before the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee shall have no rights as a stockholder with respect to the Option Shares until the date of issuance of a stock certificate has been issued to the Optionee and Optionee. Except as is fully paid for expressly provided in accordance the Plan with paragraph 3. With respect to certain changes in the capitalization of the CorporationCompany, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee shall have no --------------------------------------- rights as a stockholder with respect to the Option Shares until the date of issuance of a stock certificate has been issued to the Optionee and Optionee. Except as is fully paid for expressly provided in accordance the Plan with paragraph 3. With respect to certain changes in the capitalization and stock dividends of the CorporationCompany, no adjustment shall be made for dividends or similar rights for which the record date is prior to before the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee shall have no rights as a stockholder with respect to the Option Shares until a stock certificate therefor has been issued to the Optionee and is fully paid for in accordance with paragraph 3Section 8. With Except as is expressly provided in the Plan with respect to certain changes in the capitalization of the Corporation, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee Option Holder shall have no rights as a stockholder with respect to the Option Shares subject to this Agreement until a stock certificate therefor has been issued to the Optionee Option Holder and is such Option Shares are fully paid for for. Except as is expressly provided in accordance the Plan with paragraph 3. With respect to certain changes in the capitalization of the CorporationCompany, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee shall have no rights as a stockholder with respect to the Option Shares until a stock certificate has been issued to the Optionee and is fully paid for in accordance with paragraph Section 3. With respect to certain changes in the capitalization of the Corporation, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee shall have no rights --------------------------------------- as a stockholder with respect to the Shares shares subject to this Agreement until a stock certificate therefor has been issued to the Optionee and is fully paid for for, except as is expressly provided in accordance the Plan with paragraph 3. With respect to certain changes in the capitalization of the Corporationdivine, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee Option Holder shall have --------------------------------------- no rights as a stockholder with respect to the Shares any shares of Stock issuable upon exercise of this option until a stock certificate therefor has been issued to the Optionee him and is fully paid for in accordance for. Except as expressly provided below with paragraph 3. With respect to certain changes in the capitalization of the Corporationstock dividends, no adjustment shall be made for dividends or similar other rights for which the record date is prior to precedes the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee shall have no --------------------------------------- rights as a stockholder with respect to the Shares shares subject to this Agreement until a stock certificate therefor has been issued to the Optionee and is fully paid for for. Except as is expressly provided in accordance this Agreement with paragraph 3. With respect to certain changes in the capitalization of the CorporationExcel, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee shall have no rights as a stockholder with respect to any of the Option Shares until a stock certificate therefor has been issued to the Optionee and is fully paid for for. Except as is expressly provided in accordance the Plan with paragraph 3. With respect to certain changes in the capitalization of the CorporationCompany, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee shall have no rights as a stockholder with respect to the Option Shares until a stock certificate therefor has been issued to the Optionee and is fully paid for in accordance with paragraph 3Section 9. With Except as is expressly provided in the Plan for options granted thereunder with respect to certain changes in the capitalization of the Corporation, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee shall have no --------------------------------------- rights as a stockholder with respect to the Shares shares subject to this Agreement until a stock certificate therefore has been issued to the Optionee and is fully paid for for. Except as is expressly provided in accordance the Plan with paragraph 3. With respect to certain changes in the capitalization of the CorporationCompany, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee shall have no rights as a stockholder with respect to the Shares shares subject to this Agreement until a stock certificate therefor has been issued to the Optionee and it is fully paid for in accordance with paragraph 3. With respect to certain changes in the capitalization of the Corporation, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issuedfor.

No Rights as Stockholder Until Exercise. The Optionee shall have no rights as a stockholder with respect to the Option Shares subject to this Agreement until a stock certificate therefor has been issued to the Optionee and is fully paid for by the Optionee. Except as is expressly provided in accordance the Plan with paragraph 3. With respect to certain changes in the capitalization of the CorporationCompany, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee shall have no rights as a stockholder with respect to the Shares shares subject to this Agreement until a stock certificate therefor has been issued to the Optionee and is fully paid for in accordance with paragraph 3. With respect to certain changes in the capitalization of the Corporation, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issuedfor.

No Rights as Stockholder Until Exercise. The Optionee shall have no rights as a stockholder with respect to the Shares this Option until a stock certificate has been issued to such time as the Optionee has exercised this Option by delivering a notice of exercise and is fully has paid in full the purchase price for the shares so exercised in accordance with paragraph 3Section 4. With Except as is expressly provided herein with respect to certain changes in the capitalization of the CorporationCompany, no adjustment shall be made for dividends or similar rights for which the record date is prior to the such date such stock certificate is issuedof exercise.

No Rights as Stockholder Until Exercise. The Optionee shall have no rights as a stockholder with respect to any of the Option Shares until a stock certificate therefore has been issued to the Optionee and is fully paid for for. Except as is expressly provided in accordance Section 10 of the Plan with paragraph 3. With respect to certain changes in the capitalization of the CorporationCompany, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee shall have no --------------------------------------- rights as a stockholder shareholder with respect to the Shares any shares covered by this option (including, without limitation, any rights to receive dividends or non-cash distributions with respect to such shares) unless and until a stock certificate has been representing such shares is duly issued and delivered to the Optionee and is fully paid for in accordance with paragraph 3Optionee. With respect to certain changes in the capitalization of the Corporation, no No adjustment shall be made for dividends or similar other rights for which the record date is prior to the date such stock certificate is issued.

No Rights as Stockholder Until Exercise. The Optionee shall have no rights as a stockholder with respect to the Shares subject to this Agreement until a stock certificate therefor has been issued to the Optionee and is fully paid for in accordance with paragraph 3. With respect to certain changes in the capitalization of the Corporation, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date such stock certificate is issuedfor.