Common use of Authorization to Sell Clause in Contracts

Authorization to Sell. As from the day following the general meeting of the shareholders approving the financial statement for the fiscal year ending December 31st 2005 and as long as Innoven holds Transferable Securities, Innoven will be entitled to grant an exclusive authorization to sell (hereinafter referred to as the “Authorization”) to an internationally reputed merchant bank in order to find a Third Party acquirer for all the Transferable Securities issued by the Company.