Common use of Excluded Stock Clause in Contracts

Excluded Stock. Excluded Stock" shall mean (1) shares of Common -------------- Stock issued by the Company as a stock dividend payable in shares of Common Stock, or upon any subdivision or split-up of the outstanding shares of Common Stock for which an adjustment to the Exercise Price is made pursuant to Section 5(c), (2) options to acquire Common Stock and shares of Common Stock issued or to be issued from time to time to directors, officers, employees, consultants, advisors, independent contractors and agents of the Company pursuant to stock option plans or other employee benefit plans approved of by the Board of Directors, or an authorized committee thereof, of the Company, (3) the shares of Common Stock issued or issuable upon conversion of the Redeemable Series A Convertible Preferred Stock of the Company outstanding on December 31, 1995, (4) the shares of Common Stock issued or issuable upon exercise of the Warrants and (5) shares of Common Stock issued by the Company pursuant to an underwritten public offering of Common Stock or pursuant to a public tender or exchange offer.

Excluded Stock. Excluded Stock" shall mean (1) shares of Common -------------- Stock issued by the Company as a stock dividend payable in shares of Common Stock, or upon any subdivision or split-up of the outstanding shares of Common Stock for which an adjustment to the Exercise Price is made pursuant to Section 5(c), (2) options to acquire Common Stock and shares of Common Stock issued or to be issued from time to time to directors, officers, employees, consultants, advisors, independent contractors and agents of the Company pursuant to stock option plans or other employee benefit plans approved of by the Board of Directors, or an authorized committee thereof, of the Company, (3) the shares of Common Stock issued or issuable upon conversion exercise of the Redeemable Series A Convertible Preferred Stock of the Company outstanding on December 31, 1995, (4) the Warrants or any other warrants to purchase shares of Common Stock issued or issuable upon exercise and outstanding as of the Warrants date hereof and (54) shares of Common Stock issued by the Company pursuant to an underwritten public offering of Common Stock or pursuant to a public tender or exchange offer.

Excluded Stock. Excluded Stock" shall mean (1) shares of Common -------------- Stock issued by the Company as a stock dividend payable in shares of Common Stock, or upon any subdivision or split-up of the outstanding shares of Common Stock for which an adjustment to the Exercise Price is made pursuant to Section 5(c), (2) options to acquire Common Stock and shares of Common Stock issued or to be issued from time to time to directors, officers, employees, consultants, advisors, independent contractors and agents of the Company pursuant to stock option plans or other employee benefit plans approved of by the Board of Directors, or an authorized committee thereof, of the Company, (3) the shares of Common Stock issued or issuable upon conversion exercise of the Redeemable Series A Convertible Preferred Stock of the Company outstanding on December 31, 1995, (4) the Warrants or any other warrants to purchase shares of Common Stock issued or issuable upon exercise and outstanding as of the Warrants date hereof and (54) shares of Common Stock issued by the Company pursuant to an underwritten public offering of Common Stock or pursuant to a public tender or exchange offer.