Common use of RIGHT OF SHAREHOLDER Clause in Contracts

RIGHT OF SHAREHOLDER. The Employee shall not have any rights or privileges of a shareholder of Centrum in respect with the Shares transferable upon exercise of the option granted under this Agreement, unless and until certificates representing such Shares shall have been endorsed, transferred, and delivered and the transferee has caused his/her name to be entered as the shareholder of record on the books of Centrum.

RIGHT OF SHAREHOLDER. The Employee Director shall not have any rights or privileges of a shareholder of Centrum in respect with the Shares transferable upon exercise of the option granted under this Agreement, unless and until certificates representing such Shares shall have been endorsed, transferred, and delivered and the transferee has caused his/her name to be entered as the shareholder of record on the books of Centrum.