Common use of Registration of Options Clause in Contracts

Registration of Options. In the event that ELCOM makes an initial public ----------------------- offering (the "IPO") of its common stock pursuant to rules established by the United States Securities and Exchange Commission and the NASDAQ stock exchange, the options granted in Section 2 of this Agreement shall be registered with the Securities and Exchange Commission pursuant to the following schedule:

Registration of Options. In the event that ELCOM makes an initial ----------------------- public ----------------------- offering (the "IPO") of its common stock pursuant to rules established by the United States Securities and Exchange Commission and the NASDAQ stock exchange, the options granted in Section 2 of this Agreement shall be registered with the Securities and Exchange Commission pursuant to the following schedule:

Registration of Options. In the event that ELCOM makes an initial public ----------------------- offering (the "IPOthe"IPO") of its common stock pursuant to rules established by the United States Securities and Exchange Commission and the NASDAQ stock exchange, the options granted in Section 2 of this Agreement shall be registered with the Securities and Exchange Commission pursuant to the following schedule:

Registration of Options. In the event that ELCOM makes an initial ----------------------- public ----------------------- offering (the "IPO") of its common stock pursuant to rules established by the United States Securities and Exchange Commission and the NASDAQ stock exchange, the options granted in Section 2 of this Agreement shall be registered with the Securities and Exchange Commission pursuant to the following schedule:

Registration of Options. In the event that ELCOM makes an initial public ----------------------- offering (the "IPO") of its common stock pursuant to rules established by the United States Securities and Exchange Commission and the NASDAQ stock exchange, the options granted in Section 2 of this Agreement shall be registered with the Securities and Exchange Commission pursuant to the following schedule:: At the time of IPO...........................100%(one hundred percent)