Common use of Ownership of Options Clause in Contracts

Ownership of Options. The Stockholder is owner of the number of Exchange Options set forth in the recitals hereto, free and clear of any security interests, liens, charges, encumbrances, equities, claims, options or limitations of whatever nature and free of any other limitation or restriction (including any restriction on the right to vote, sell or otherwise dispose of the Exchange Options), except as may exist by reason of this Agreement, the Voting Agreement between the Stockholder and Holding or pursuant to applicable law, or pursuant to the restrictions on transferability and on exercise provided for in the Company's 1995 Long-Term Incentive Plan and any related option agreement. Except as provided for in this Agreement, the Voting Agreement between the Stockholder and Holding, the Merger Agreement and the other agreements contemplated hereby and thereby, there are no outstanding options or other rights to acquire from the Stockholder, or obligations of the Stockholder to sell or to dispose of, any Exchange Options.