Common use of Approval by Shareholders Clause in Contracts

Approval by Shareholders. The granting of the option is being made pursuant to a plan adopted by the Board of Directors of the Company on October 26, 1995, which includes the aggregate number of 180,000 common shares of the Company which may be issued under incentive stock options, and which specifies that the Employee is a member of the class of employees eligible to receive such options. Such plan was approved by the shareholders of the Company on October 26, 1995. The Company will submit this Agreement for approval to the shareholders at the earliest practical date.

Approval by Shareholders. The granting of the option is being made pursuant to a plan adopted by the Board of Directors Employees of the Company on October 26, 1995, which includes the aggregate number of 180,000 264,960 common shares of the Company which may be issued under as incentive stock options, and which specifies that the Employee is a member of the class of employees eligible to receive such options. Such plan was approved by the shareholders of the Company on October 26, 1995. The Company will submit this Agreement for approval to the shareholders at the earliest practical date.

Approval by Shareholders. The granting of the option is being made pursuant to a plan adopted by the Board of Directors Employees of the Company on October 26, 1995, which includes the aggregate number of 180,000 250,240 common shares of the Company which may be issued under incentive as nonstatutory stock options, and which specifies that the Employee is a member of the class of employees eligible to receive such options. Such plan was approved by the shareholders of the Company on October 26, 1995. The Company will submit this Agreement for approval to the shareholders at the earliest practical date.

Approval by Shareholders. The granting of the option is being made pursuant to a plan adopted by the Board of Directors of the Company on October 26, 1995, which includes the aggregate number of 180,000 132,000 common shares of the Company which may be issued under incentive as nonstatutory stock options, and which specifies that the Employee ____________________________ is a member of the class of employees eligible to receive such options. Such plan was approved by the shareholders of the Company on October 26, 1995. The Company will submit this Agreement for approval to the shareholders at the earliest practical date.