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Common use of Acknowledgments by Optionee Clause in Contracts

Acknowledgments by Optionee. Optionee acknowledges that he/she --------------------------- has been advised, and that he/she understands, that: (a) Option Rights and any shares issued pursuant to the exercise of Option Rights have not been registered under the Securities Act of 1933; (b) the grant of Option Rights and the issuance of any shares pursuant to the exercise of Option Rights may be subject to, or may become subject to, applicable reporting, disclosure and holding period restrictions imposed by Rule 144 under the Securities Act of 1933 ("Rule 144") and Section 16 of the Securities Exchange Act of 1934 ("Section 16"); (c) pursuant to Rule 144, Optionee may have to hold any shares issued for a period of one year from the option exercise date; and (d) shares acquired could be subject to Section 16(a) reporting requirements as well as the short swing trading prohibition contained in Section 16(b) which precludes any profit taking with respect to any stock transactions which occur within any six-month period. The Optionee further acknowledges receipt of a copy of the Plan.

Appears in 2 contracts

Samples: Nonqualified Stock Option Agreement (Paetec Corp), Incentive Stock Option Agreement (Paetec Corp)

Acknowledgments by Optionee. Optionee acknowledges that he/she he has --------------------------- has been advised, and that he/she understands, that: (a) Option Rights and any shares issued pursuant to the exercise of Option Rights have not been registered under the Securities Act of 1933; (b) the grant of Option Rights and the issuance of any shares pursuant to the exercise of Option Rights may be subject to, or may become subject to, applicable reporting, disclosure and holding period restrictions imposed by Rule 144 under the Securities Act of 1933 ("Rule 144") and Section 16 of the Securities Exchange Act of 1934 ("Section 16"); (c) pursuant to Rule 144, Optionee may have to hold any shares issued for a period of one year from the option exercise date; and (d) shares acquired could be subject to Section 16(a) reporting requirements as well as the short swing trading prohibition contained in Section 16(b) which precludes any profit taking with respect to any stock transactions which occur within any six-month period. The Optionee further acknowledges receipt of a copy of the Plan.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Paetec Corp)

Acknowledgments by Optionee. Optionee acknowledges that he/she --------------------------- has been advised, and that he/she understands, that: (a) Option Rights and any shares issued pursuant to the exercise of Option Rights have not been registered under the Securities Act of 1933; (b) the grant of Option Rights and the issuance of any shares pursuant to the exercise of Option Rights may be subject to, or may become subject to, applicable reporting, disclosure and holding period restrictions imposed by Rule 144 under the Securities Act of 1933 ("Rule 144") and Section 16 of the Securities Exchange Act of 1934 ("Section 16"); (c) pursuant to Rule 144, Optionee may have to hold any shares issued for a period of one year from the option exercise date; andand Non-Solicitation (d) shares acquired could be subject to Section 16(a) reporting requirements as well as the short swing trading prohibition contained in Section 16(b) which precludes any profit taking with respect to any stock transactions which occur within any six-month period. The Optionee further acknowledges receipt of a copy of the Plan.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Paetec Corp)

Acknowledgments by Optionee. Optionee acknowledges that he/she he has --------------------------- has been advised, and that he/she understands, that: (a) Option Rights and any shares issued pursuant to the exercise of Option Rights have not been registered under the Securities Act of 1933; (b) the grant of Option Rights and the issuance of any shares pursuant to the exercise of Option Rights may be subject to, or may become subject to, applicable reporting, disclosure and holding period restrictions imposed by Rule 144 under the Securities Act of 1933 ("Rule 144") and Section 16 of the Securities Exchange Act of 1934 ("Section 16"); (c) pursuant to Rule 144, Optionee may have to hold any shares issued for a period of one year from the option exercise date; and (d) shares acquired could be subject to Section 16(a) reporting requirements as well as the short swing trading prohibition contained in Section 16(b) which precludes any profit taking with respect to any stock transactions which occur within any six-month period. The Optionee further acknowledges receipt of a copy of the Plan. The Company has caused this Agreement to be executed by its duly authorized officer, and the Optionee has executed this Agreement, both as of the day and year first written above. PAETEC CORP.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Paetec Corp)