Common use of Registration Right Clause in Contracts

Registration Right. The Optionee shall have the right to have any shares of Common Stock acquired on exercise of the Option "piggy-backed" or included in any Registration Statement filed by the Company under the Act for the sale of Common Stock as set out below. (a) This "piggy-back" right shall exist and be effective for the two-year period following the acquisition of the Common Stock by exercise of the Option and for so long thereafter as the Holder is deemed to be an "affiliate" of the Company for purposes of Rule 144 adopted under the Act. (b) If the Registration Statement is being filed for a distribution of Common Stock which is being underwritten by a securities broker-dealer, the Holder's "piggy-back" right to have shares of Common Stock included therein will be subject to willingness of the underwriter to have the shares included or to any reasonable limitations which the underwriter may impose on the Holder's piggy-back" rights.