Common use of Blue Sky Limitation Clause in Contracts

Blue Sky Limitation. Notwithstanding anything in this Agreement to the contrary, in the event the Company makes any public offering of its securities and determines, in its sole discretion, that it is necessary to reduce the number of issued but unexercised stock purchase rights so as to comply with any state securities or Blue Sky law limitations with respect thereto, the Board of Directors of the Company shall have the right to (i) accelerate the lapse of the risks of forfeiture for this Award, provided that the Company gives the Participant 15 days’ prior written notice of such acceleration, or (ii) cancel any portion of this Award or any other award granted to the Participant pursuant to the Plan which remains subject to risk of forfeiture prior to or contemporaneously with such public offering. Notice shall be deemed given when delivered personally or when deposited in the United States mail, first class postage prepaid and addressed to the Participant at the address of the Participant on file with the Company.

Blue Sky Limitation. Notwithstanding anything in this Agreement to the contrary, in the event the Company makes any public offering of its securities and determines, in its sole discretion, that it is necessary to reduce the number of issued but unexercised stock purchase rights so as to comply with any state securities or Blue Sky law limitations with respect thereto, the Board of Directors of the Company shall have the right to (i) accelerate the lapse vesting of the risks of forfeiture for this Awardrestricted stock unit award, provided that the Company gives the Participant 15 days’ prior written notice of such acceleration, or (ii) cancel any portion of this Award or any other award granted to the Participant pursuant to the Plan which remains subject to risk of forfeiture has not vested prior to or contemporaneously with such public offering. Notice shall be deemed given when delivered personally or when deposited in the United States mail, first class postage prepaid and addressed to the Participant at the address of the Participant on file with the Company.