Future Registrable Securities

Future Registrable Securities. Shall mean all Common Stock owned now ----------------------------- or in the future by any employees of, consultant to, or holders of equity securities, of the Company to whom the Board determines to expressly extend the benefits of this Agreement; provided, that such Person executes a written -------- agreement to be bound by the terms hereof as if such Person were an original party hereto; provided, further that such shares of Common Stock shall only be... treated as Future Registrable Securities if and so long as they have not been (x) sold to or through a broker or dealer or underwriter in a public distribution or a public securities transaction, or (y) sold in a transaction exempt from the registration and prospectus delivery requirements of the Securities Act under Section 4(1) thereof so that all transfer restrictions and restrictive legends with respect to such Common Stock are removed upon the consummation of such sale and the seller and purchaser of such Common Stock receive an opinion of counsel for the Company, which shall be in form and content reasonably satisfactory to the seller and purchaser and their respective counsel, to the effect that such Common Stock in the hands of the purchaser is freely transferable without restriction or registration under the Securities Act in any public or private transaction. View More

Future Registrable Securities. Shall have the meaning set forth in clause (c) of the definition of "Registrable Securities" contained herein.