Compliance with Rule 16b-3. The provisions of this Section 5.7will not apply unless and until the Company has a class of stock that is registered under Section 12 of the Exchange Act.
Compliance with Rule 16b-3. If Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended, or any successor provision applies to the Optionee or to the grant of the Option pursuant to the Plan to the Optionee, then the grant of the Option hereunder is intended to be in compliance with one or more of the exemptions provided in Rule 16b-3.
Compliance with Rule 16b-3. The intent of this Plan is to qualify for the exemption provided by Rule 16b-3 under the Exchange Act. To the extent any provision of the Plan does not comply with the requirements of Rule 16b-3, it shall be deemed inoperative to the extent permitted by law and deemed advisable by the Board of Directors and shall not affect the validity of the Plan. In the event Rule 16b-3 is revised or replaced, the Board of Directors may exercise discretion to modify this Plan in any respect necessary to satisfy the requirements of the revised exemption or its replacement.
Compliance with Rule 16b-3. With respect to persons subject to Section 16 of the 1934 Act, transactions under this Article II are intended to comply with all applicable conditions of Rule 16b-3 or its successors under the 1934 Act, To the extent any provision of this Article U or action by the Board or the Committee fails so to comply, it shall be deemed null and void, to the extent permitted by law and deemed advisable by the Committee.
Compliance with Rule 16b-3. The provisions of this Section 5.7 will not apply unless and until the Company has a class of Shares that is registered under Section 12 of the Exchange Act and fails to qualify as a foreign private issuer as defined therein.
Compliance with Rule 16b-3. The Options subject to this Agreement have been approved by the Board of Directors in compliance with Rule 16b-3(d) promulgated under the Securities Exchange Act of 1934.
Compliance with Rule 16b-3. It is intended that, unless the Committee determines otherwise, Awards under the Plan be eligible for exemption under Rule 16b-3. The Board is authorized to amend the Plan and to make any such modifications to Award Agreements to comply with Rule 16b-3, as it may be amended from time to time, and to make any other such amendments or modifications as it deems necessary or appropriate to better accomplish the purposes of the Plan in light of any amendments made to Rule 16b-3.
Compliance with Rule 16b-3. All elections and transactions under this Plan by persons subject to Rule 16b-3, promulgated under section 16(b) of the Exchange Act, or any successor to such Rule, are intended to comply with at least one of the exemptive conditions under such Rule. The Committee shall establish such administrative guidelines to facilitate compliance with at least one such exemptive condition under Rule 16b-3 as the Committee may deem necessary or appropriate. Without limiting the generality of the foregoing, each Participant or his or her legal representative or beneficiary may also be required to give satisfactory assurance that such person is an eligible purchaser under applicable securities laws, and that the shares granted pursuant to the Award shall be for investment purposes and not with a view to distribution; certificates representing such shares may be legended accordingly.
Compliance with Rule 16b-3. (i) It is the intent of the Company that this Award Agreement comply in all respects with applicable provisions of Rule 16b‑3 under the Exchange Act in connection with any grant of Stock Options. Accordingly, if any provision of this Award Agreement does not comply with the requirements of Rule 16b‑3 as then applicable to the Participant, such provision shall be deemed null and void, to the extent permitted by law and deemed advisable by the Committee. Moreover, in the event that this Award Agreement does not include a provision required by Rule 16(b)(3) to be stated herein, such provision (other than one relating to eligibility requirements, or the price and amount of Awards) shall be deemed automatically to be incorporated by reference into this Award Agreement insofar as the Participant is concerned.
(ii) Notwithstanding anything contained in this Award Agreement to the contrary, if the consummation of any transaction pursuant to this Award Agreement would result in the possible imposition of liability on a Participant pursuant to Section 16(b) of the Exchange Act, the Committee shall have the right, in its sole discretion, but shall not be obligated, to defer such transaction to the extent necessary to avoid such liability, but in no event for a period in excess of 180 days.
Compliance with Rule 16b-3. The grant of Units subject to this Agreement have been approved by the Board in compliance with Rule 16b-3(d) promulgated under the Securities Exchange Act of 1934.
