Common use of Non-Voting Stock Clause in Contracts

Non-Voting Stock. The Common Stock issuable hereunder shall be Non-Voting Common Stock. The Company, may at any time on or before September 30, 1996, amend its Certificate of Incorporation so as to provide for a class of Non-Voting Common Stock which shall have rights, preferences, and limitations which are identical, in every way, to the Common Stock of the Company outstanding on the date hereof, except that such class of Non-Voting Common Stock of the Company outstanding on the date hereof shall not have the right to vote on any matter except where expressly required by law, and the Non-Voting Common Stock shall be converted into and shall become, without the necessity of the exchange of certificates representing such stock, or any other action by the holder thereof, Common Stock of the Company (which shall have voting rights) upon the effectiveness of any registration statement filed under the Securities Act (as hereinafter defined) which registration thereunder includes Common Stock of the Company. At any time after such authorization of Non-Voting Common Stock by the Company, upon exercise of this Warrant, the holders thereof shall receive such Non-Voting Common Stock in lieu thereof and, under such circumstances, the references to "Shares" shall mean such Non-Voting Common Stock. Upon exercise of this Warrant prior to the creation of such Non-Voting Common Stock, the holder shall receive Common Stock of the Company and shall exchange such Common Stock for Non-Voting Common Stock of the Company when such Non-Voting Common Stock of the Company is so authorized and, after such exercise of the Warrant and prior to such exchange, shall be subject to an irrevocable proxy delivered at the time of such exercise authorizing such person or persons designated by the Company to exercise all voting rights with respect to such Common Stock.

Non-Voting Stock. The Common Stock issuable hereunder shall be Non-Voting Common Stock. The Company, may at any time on or before September 30, 1996, amend its Certificate of Incorporation so as to provide for a class of Non-Voting Common Stock which shall have rights, preferences, and limitations which are identical, in every way, to the Common Stock of the Company outstanding on the date hereof, except that such class of Non-Voting Common Stock of the Company outstanding on the date hereof shall not have the right to vote on any matter except where expressly required by law, and the Non-Voting Common Stock shall be converted into and shall become, without the necessity of the exchange of certificates representing such stock, or any other action by the holder thereof, Common Stock of the Company (which shall have voting rights) upon the effectiveness of any registration statement filed under the Securities Act (as hereinafter defined) which registration thereunder includes Common Stock of the Company. At any time after such authorization of Non-Non- Voting Common Stock by the Company, upon exercise of this Warrant, the holders thereof shall receive such Non-Voting Common Stock in lieu thereof and, under such circumstances, the references to "Shares" shall mean such Non-Voting Common Stock. Upon exercise of this Warrant prior to the creation of such Non-Voting Common Stock, the holder shall receive Common Stock of the Company and shall exchange such Common Stock for Non-Voting Common Stock of the Company when such Non-Voting Common Stock of the Company is so authorized and, after such exercise of the Warrant and prior to such exchange, shall be subject to an irrevocable proxy delivered at the time of such exercise authorizing such person or persons designated by the Company to exercise all voting rights with respect to such Common Stock.

Non-Voting Stock. The Common Stock issuable hereunder shall be Non-Voting Common Stock. The Company, may at any time on or before September 30February 29, 1996, amend its Certificate of Incorporation so as to provide for a class of Non-Voting Common Stock which shall have rights, preferences, and limitations which are identical, in every way, to the Common Stock of the Company outstanding on the date hereof, except that such class of Non-Voting Common Stock of the Company outstanding on the date hereof shall not have the right to vote on any matter except where expressly required by law, and the Non-Voting Common Stock shall be converted into and shall become, without the necessity of the exchange of certificates representing such stock, or any other action by the holder thereof, Common Stock of the Company (which shall have voting rights) upon the effectiveness of any registration statement filed under the Securities Act (as hereinafter defined) which registration thereunder includes Common Stock of the Company. At any time after such authorization of Non-Voting Common Stock by the Company, upon exercise of this Warrant, the holders thereof shall receive such Non-Voting Common Stock in lieu thereof and, under such circumstances, the references to "Shares" shall mean such Non-Voting Common Stock. Upon exercise of this Warrant prior to the creation of such Non-Voting Common Stock, the holder shall receive Common Stock of the Company and shall exchange such Common Stock for Non-Voting Common Stock of the Company when such Non-Voting Common Stock of the Company is so authorized and, after such exercise of the Warrant and prior to such exchange, shall be subject to an irrevocable proxy delivered at the time of such exercise authorizing such person or persons designated by the Company to exercise all voting rights with respect to such Common Stock.