Common use of RIGHTS OF THE OPTIONEE Clause in Contracts

RIGHTS OF THE OPTIONEE. Nothing in this Agreement shall interfere with or limit in any way the right of the Company or any Subsidiary to terminate the Optionee's employment at any time (with or without Cause), or to confer upon the Optionee any right to continue in the employ of the Company or any Subsidiary for any period of time, or to continue to receive the Optionee's current (or other) rate of compensation. Except as otherwise provided herein, unless and until a certificate or certificates representing the Option Shares shall have been issued to the Optionee, the Optionee shall not be a securityholder or have any of the rights or privileges of a securityholder of the Company with respect to shares of Common Stock acquired upon exercise of the Option.

RIGHTS OF THE OPTIONEE. Nothing in this Agreement shall interfere with or limit in any way the right of the Company or any Subsidiary to terminate the Optionee's employment service as a director at any time (with or without Cause), or to confer upon the Optionee any right to continue in the employ to serve as a director of the Company or any Subsidiary of its Subsidiaries for any period of time, or to continue to receive the Optionee's current (or other) rate of compensation. Except as otherwise provided herein, unless and until a certificate or certificates representing the Option Shares shall have been issued to the Optionee, the Optionee shall not be a securityholder or have any of the rights or privileges of a securityholder of the Company with respect to shares of Common Stock acquired upon exercise of the Option.