Common use of Certain Restrictions on Transfer Clause in Contracts

Certain Restrictions on Transfer. Grantee may not sell, transfer, pledge, exchange, hypothecate, or otherwise dispose of any or all of the Unvested Restricted Shares, or any rights thereto or interests therein, by operation of law or otherwise. Any transfer in violation of this Section 5 shall be void and without any force or effect and shall constitute a breach of the terms and conditions of this Agreement and the Plan. Grantee also understands that the Company is under no obligation to register, under any applicable securities laws, any resale of any of the Restricted Shares that become Vested Restricted Shares, and therefore transferable, upon the termination or lapse of Forfeiture Restrictions and that an exemption from such registration requirements may not be available or may not permit Grantee to resell or transfer any of such Vested Restricted Shares in the amounts or at the times proposed by Grantee.