Common use of Announcement of Release or Waiver of the Transfer Restrictions Clause in Contracts

Announcement of Release or Waiver of the Transfer Restrictions. The Company will announce the Underwriters’ intention to release any director or “officer” (within the meaning of Rule 16a-1(f) under the Exchange Act) of the Company from any of the lock-up restrictions imposed by any Insider Letter, by issuing, through a major news service, a press release, the form of which is attached as Exhibit A hereto, that is satisfactory to the Representative promptly following the Company’s receipt of any notification from the Representative in which the Underwriters indicate such intention, but in any case not later than the close of the second business day prior to the date on which such release or waiver is to become effective; provided, however, that nothing shall prevent the Representative, on behalf of the Underwriters, from announcing the same through a major news service, irrespective of whether the Company has made the required announcement; and further provided that no such announcement shall be made of any release or waiver granted solely to permit a transfer of securities that is not for consideration and where the transferee has agreed in writing to be bound by the terms of an Insider Letter.