Common use of Status of Stock Clause in Contracts

Status of Stock. Notwithstanding any other provision of this Agreement, in the absence of an effective registration statement under the Securities Act, or an available exemption from registration under the Securities Act, for the issuance of shares of Stock in connection with any Award granted hereby, such issuance of shares of Stock will be delayed until registration of such shares of Stock is effective or an exemption from registration under the Securities Act is available. The Company intends to use its best efforts to ensure that no such delay will occur. In the event exemption from registration under the Securities Act is available, Employee, if requested by the Company to do so, will execute and deliver to the Company in writing an agreement containing such provisions as the Company may require to assure compliance with applicable securities laws. Employee agrees that the shares of Stock that Employee may acquire in connection with any Award will not be sold or otherwise disposed of in any manner that would constitute a violation of any applicable securities laws. Employee also agrees that (a) the certificates representing such shares of Stock may bear such legend or legends as the Company deems appropriate in order to assure compliance with applicable securities laws, (b) the Company may refuse to register the transfer of such shares of Stock on the stock transfer records of the Company if such proposed transfer would, in the opinion of counsel satisfactory to the Company, constitute a violation of any applicable securities law and (c) the Company may give related instructions to its transfer agent, if any, to stop registration of the transfer of such shares of Stock.

Status of Stock. Notwithstanding any other provision The Company intends to register for issuance under the Securities Act of 1933, as amended (the "Act") the shares of Stock acquirable upon exercise of this AgreementOption, in and to keep such registration effective throughout the period this Option is exercisable. In the absence of an such effective registration statement under the Securities Act, or an available exemption from registration under the Securities Act, for the issuance of shares of Stock in connection with any Award granted hereby, such issuance acquirable upon exercise of shares of Stock this Option will be delayed until registration of such shares of Stock is effective or an exemption from registration under the Securities Act is available. The Company intends to use its best reasonable efforts to ensure that no such delay will occur. In the event exemption from registration under the Securities Act is availableavailable upon an exercise of this Option, Employee (or the person permitted to exercise this Option in the event of Employee's death or incapacity), if requested by the Company to do so, will execute and deliver to the Company in writing an agreement containing such provisions as the Company may require to assure compliance with applicable securities laws. Employee agrees that the shares of Stock that which Employee may acquire in connection with any Award by exercising this Option will not be sold or otherwise disposed of in any manner that which would constitute a violation of any applicable federal or state securities laws. Employee also agrees that (ai) the certificates representing such the shares of Stock purchased under this Option may bear such legend or legends as the Company Committee deems appropriate in order to assure compliance with applicable securities laws, (bii) the Company may refuse to register the transfer of such the shares of Stock purchased under this Option on the stock transfer records of the Company if such proposed transfer would, would in the opinion of counsel satisfactory to the Company, Company constitute a violation of any applicable securities law law, and (ciii) the Company may give related instructions to its transfer agent, if any, to stop registration of the transfer of such the shares of StockStock purchased under this Option.

Status of Stock. Notwithstanding The Company shall not be obligated to issue any other provision Stock pursuant to any Option at any time, when the offering of this Agreement, in the absence of an effective registration statement under the Securities Act, or an available exemption from registration under the Securities Act, for the issuance of shares of Stock in connection with any Award granted hereby, covered by such issuance of shares of Stock will be delayed until registration of such shares of Stock is effective or an exemption from registration Option has not been registered under the Securities Act of 1933, as amended (the "Act") and such other country, federal or state laws, rules or regulations as the Company deems applicable and, in the opinion of legal counsel for the Company, there is availableno exemption from the registration. The Company intends to use its best reasonable efforts to ensure that no such delay will occur. In the event exemption from registration under the Securities Act is availableavailable upon an exercise of this Option, Employee (or the person permitted to exercise this Option in the event of Employee's death or incapacity), if requested by the Company to do so, will execute and deliver to the Company in writing an agreement containing such provisions as the Company may require to assure compliance with applicable securities laws. Employee agrees that the shares of Stock that which Employee may acquire in connection with any Award by exercising this Option will not be sold or otherwise disposed of in any manner that which would constitute a violation of any applicable federal or state securities laws. Employee also agrees (i) that (a) the certificates representing such shares of Stock may bear such legend or legends as the Company deems appropriate in order to assure compliance with applicable securities laws, (b) the Company may refuse to register the transfer of such the shares of Stock purchased under this Option on the stock transfer records of the Company if such proposed transfer would, would in the opinion of counsel satisfactory to the Company, Company constitute a violation of any applicable securities law law, and (cii) that the Company may give related instructions to its transfer agent, if any, to stop registration of the transfer of such shares of Stockthe Stock purchased under this Option.

Status of Stock. Notwithstanding any other provision The Company intends to register for issuance under the Securities Act of 1933, as amended (the “Act”), the shares of Stock acquirable upon exercise of this AgreementOption, in and to keep such registration effective throughout the period this Option is exercisable. In the absence of an such effective registration statement under the Securities Act, or an available exemption from registration under the Securities Act, for the issuance of shares of Stock in connection with any Award granted hereby, such issuance acquirable upon exercise of shares of Stock this Option will be delayed until registration of such shares of Stock is effective or an exemption from registration under the Securities Act is available. The Company intends to use its best reasonable efforts to ensure that no such delay will occur. In the event exemption from registration under the Securities Act is availableavailable upon an exercise of this Option, EmployeeDirector (or the person permitted to exercise this Option in the event of Director’s death or incapacity), if requested by the Company to do so, will execute and deliver to the Company in writing an agreement containing such provisions as the Company may require to assure compliance with applicable securities laws. Employee Director agrees that the shares of Stock that Employee which Director may acquire in connection with any Award by exercising this Option will not be sold or otherwise disposed of in any manner that which would constitute a violation of any applicable federal or state securities laws. Employee Director also agrees that (ai) the certificates representing such the shares of Stock purchased under this Option may bear such legend or legends as the Company Committee deems appropriate in order to assure compliance with applicable securities laws, (bii) the Company may refuse to register the transfer of such the shares of Stock purchased under this Option on the stock transfer records of the Company if such proposed transfer would, would in the opinion of counsel satisfactory to the Company, Company constitute a violation of any applicable securities law law, and (ciii) the Company may give related instructions to its transfer agent, if any, to stop registration of the transfer of such the shares of StockStock purchased under this Option.

Status of Stock. Notwithstanding any other provision of this Agreement, in the absence of an effective registration statement under the Securities Act, or an available exemption from registration under the Securities Act, for the issuance of shares of Stock in connection with any Award granted hereby, such issuance of shares of Stock will be delayed until registration of such shares of Stock is effective or an exemption from registration under the Securities Act is available. The Company intends to use its best efforts to ensure that no such delay will occur. In the event exemption from registration under the Securities Act is available, Employee, if requested by the Company to do so, will execute and deliver to the Company in writing an agreement containing such provisions as the Company may require to assure compliance with applicable securities laws. Employee agrees that the shares of Stock that Employee may acquire in connection with any Award will not be sold or otherwise disposed of in any manner that would constitute a violation of any applicable securities laws. Employee also agrees that (a) the certificates representing such shares of Stock may bear such legend or legends as the Company deems appropriate in order to assure compliance with applicable securities laws, (b) the Company may refuse to register the transfer of such shares of Stock on the stock transfer records of the Company if such proposed transfer would, in the opinion of counsel satisfactory to the Company, constitute a violation of any applicable securities law and (c) the Company may give related instructions to its transfer agent, if any, to stop registration of the transfer of such shares of Stock.,