Common use of No Rights of Stockholder Clause in Contracts

No Rights of Stockholder. Neither the Employee (nor any beneficiary) shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable pursuant to the exercise of this option, unless and until certificates representing such Shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee (or beneficiary).

No Rights of Stockholder. Neither the Employee (nor any beneficiary) person claiming under or through said Employee shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable pursuant to upon the exercise of this the option, unless and until certificates representing such Shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee (or beneficiary)Employee.

No Rights of Stockholder. Neither the Employee Director (nor any beneficiary) shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable pursuant to the exercise of this option, unless and until certificates representing such Shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee Director (or beneficiary).

No Rights of Stockholder. Neither the Employee (nor any beneficiary) person claiming under or through said Employee shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable pursuant to upon the exercise of this optionthe Option, unless and until certificates representing such Shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee (or beneficiary)Employee.

No Rights of Stockholder. Neither the Employee (nor any beneficiarytransferee) shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares shares issuable pursuant to the exercise of this option, unless and until certificates representing such Shares shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee (or beneficiarytransferee). Nothing in the Plan or this option shall create an obligation on the part of the Company to repurchase any shares purchased hereunder.

No Rights of Stockholder. Neither the Employee (nor any beneficiary) shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable pursuant to the exercise of this option, unless and until certificates representing such Shares person shall have been issued, recorded on exercised the records of option and paid the Company or its transfer agents or registrars, and delivered to the Employee (or beneficiary)Exercise Price.

No Rights of Stockholder. Neither the Employee (nor any beneficiary) shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable pursuant to the exercise of this optionTLSAR, unless and until certificates representing such Shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee (or beneficiary).

No Rights of Stockholder. Neither the Employee (nor any beneficiary) person claiming under or through said Employee shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares shares issuable pursuant to upon the exercise of this the option, unless and until certificates representing such Shares shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee (or beneficiary)Employee.

No Rights of Stockholder. Neither the Employee (Participant nor any beneficiary) beneficiary shall be or have any of the rights or privileges of a stockholder of the Company in with respect of to any of the Shares issuable pursuant to the exercise of this optionOption, unless and until certificates representing such Shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee Participant (or beneficiary). Nothing in the Plan or this Option shall create an obligation on the part of the Company to repurchase any Shares purchased hereunder.

No Rights of Stockholder. Neither the Employee (nor any beneficiary) person claiming under or through said Employee shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable pursuant to upon the exercise of this optionthe Option, unless and until certificates representing such Shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee (or beneficiary)Employee. 15.

No Rights of Stockholder. Neither the Employee (nor any ------------------------ beneficiary) shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable pursuant to the exercise of this option, unless and until certificates representing such Shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee (or beneficiary).

No Rights of Stockholder. Neither the Employee (nor any beneficiarytransferee) shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable pursuant to the exercise of this option, unless and until certificates representing such Shares shall have been issued, issued and recorded on the records of the Company or its transfer agents or registrars, registrars and delivered to the Employee (or beneficiarytransferee).

No Rights of Stockholder. Neither the Employee (Director nor any beneficiary) person ------------------------ claiming under or through said Director shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable pursuant to upon the exercise of this the option, unless and until certificates representing such Shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee (or beneficiary)Director.

No Rights of Stockholder. Neither the Employee (Director nor any beneficiary) person claiming under or through said Director shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable pursuant to upon the exercise of this the option, unless and until certificates representing such Shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee (or beneficiary)Director.

No Rights of Stockholder. Neither the Employee (nor any beneficiarytransferee) shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares shares issuable pursuant to the exercise of this option, unless and until certificates representing such Shares shares shall have been issued, (which may be in book entry form) recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee (or beneficiarytransferee). Nothing in the Plan or this option shall create an obligation on the part of the Company to repurchase any shares purchased hereunder.

No Rights of Stockholder. Neither the Employee (Director nor any beneficiary) person claiming under or through the Director shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable pursuant to the exercise of this option, unless and until certificates representing such Shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee Director (or beneficiarysuch other person).

No Rights of Stockholder. Neither the Employee (nor any beneficiarytransferee) shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable pursuant to the exercise of this option, unless and until certificates representing such Shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee (or beneficiarytransferee).

No Rights of Stockholder. Neither the Employee (nor any beneficiarytransferee) shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable pursuant to the exercise of this option, unless and until certificates representing such Shares shall (which may be in book entry form) have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee (or beneficiarytransferee).

No Rights of Stockholder. Neither the Employee Director (nor any beneficiarytransferee) shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable pursuant to the exercise of this option, unless and until certificates representing such Shares shall have been issued, issued and recorded on the records of the Company or its transfer agents or registrars, registrars and delivered to the Employee Director (or beneficiarytransferee).

No Rights of Stockholder. Neither the Employee (nor any beneficiarytransferee) shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable pursuant to the exercise of this option, unless and until certificates representing such Shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, registrars and delivered to the Employee (or beneficiarytransferee).

No Rights of Stockholder. Neither the Employee (nor any beneficiary) person claiming under or through said Employee shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable pursuant to upon the exercise of this option, unless and until certificates representing such Shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee (or beneficiarythe person claiming under or through the Employee).

No Rights of Stockholder. Neither the Employee (nor any beneficiarytransferee) shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares shares issuable pursuant to the exercise of this option, unless and until certificates representing such Shares shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee (or beneficiarytransferee). Nothing in the Plan or this option shall create an obligation on the part of the Company to repurchase any shares purchased hereunder. 12.

No Rights of Stockholder. Neither the Employee (Officer nor any beneficiary) person claiming under or through the Officer shall be be, or have any of the rights or privileges of of, a stockholder of the Company in respect of any of the Shares shares issuable pursuant to the exercise of this option, hereunder unless and until certificates representing such Shares shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee (Officer or beneficiary)the Secretary of the Company to hold pursuant to paragraph 2.

No Rights of Stockholder. Neither the Employee (nor ------------------------ any beneficiary) shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable pursuant to the exercise of this option, unless and until certificates representing such Shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee (or beneficiary).

No Rights of Stockholder. Neither the Employee (nor any beneficiary) person claiming ------------------------ under or through said Employee shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable pursuant to upon the exercise of this the option, unless and until certificates representing such Shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee (or beneficiary)Employee.

No Rights of Stockholder. Neither the Employee (nor any beneficiary) person claiming under or through him shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares shares issuable pursuant to upon the exercise of this the option, unless and until certificates representing such Shares shall have been issued, recorded on the records date of the receipt of payment by the Company or its transfer agents or registrars, and delivered the issuance of a stock certificate to him for such shares in accordance with the Employee (or beneficiary)terms hereof.

No Rights of Stockholder. Neither the Employee (nor any beneficiary) person claiming under or through said Employee shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable pursuant to upon the exercise of this option, unless and until certificates representing such Shares shall have been issued, issued and recorded on the records of the Company or its transfer agents or registrars, and delivered to registrars as being owned by the Employee (or beneficiarythe person claiming under or through the Employee).

No Rights of Stockholder. Neither the Employee (Participant nor any beneficiary) person claiming under or through the Participant shall be be, or have any of the rights or privileges of of, a stockholder of the Company Corporation in respect of any shares of the Shares issuable pursuant to the exercise of this option, Stock deliverable on a deferred basis hereunder unless and until certificates representing such Shares shares of Stock shall have been issued, recorded on the records of the Company Corporation or its transfer agents or registrars, and delivered to the Employee (or beneficiary)Participant.

No Rights of Stockholder. Neither the Employee (nor any beneficiary) person claiming under or through the Employee shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares shares issuable pursuant to upon the exercise of this the option, unless and until certificates representing such Shares shall have been issued, recorded on the records date of the receipt of payment by the Company or its transfer agents or registrars, and delivered the issuance of a stock certificate to the Employee (or beneficiary)for such shares in accordance with the terms hereof.

No Rights of Stockholder. Neither the Employee (nor any beneficiary) person claiming under or through said Employee shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable pursuant to upon the exercise of this the option, unless and until certificates representing such Shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to Employee. The Company undertakes to issue such Share certificates within thirty days of employee exercising the Employee (or beneficiary)option.

No Rights of Stockholder. Neither the Employee (Participant nor any beneficiary) person claiming under or through the Participant shall be or have any of the rights or privileges of a stockholder of the Company in respect of any of the Shares issuable pursuant to the exercise of this option, unless and until certificates representing such Shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee (or beneficiaryParticipant(or such other person).

No Rights of Stockholder. Neither the Employee (nor any beneficiary) person claiming under or through the Employee shall be be, or have any of the rights or privileges of of, a stockholder of the Company Corporation in respect of any shares of the Shares issuable pursuant to the exercise of this option, Stock deliverable on a deferred basis hereunder unless and until certificates representing such Shares shares of Stock shall have been issued, recorded on the records of the Company Corporation or its transfer agents or registrars, and delivered to the Employee (or beneficiary)Employee.