Common use of Purpose and Authority Clause in Contracts

Purpose and Authority. This Promissory Note and Security Agreement (the "Note") is entered into for the purpose of financing the Employee's purchase of shares of common stock, par value $0.01 per share, of the Company ("Common Stock") pursuant to and subject to the terms and conditions of (i) the Company's Statement of Company Policy on Loans to Executive Officers and Qualified Employees to Purchase the Company Stock as adopted by the Board of Directors of the Company on September 8, 1997, as amended from time to time, and (ii) the Company's 1994 Stock Option and Incentive Plan, as amended from time to time.