Common use of Compliance with Securities Laws and Regulations Clause in Contracts

Compliance with Securities Laws and Regulations. The exercise of the Option and the issuance and transfer of Shares shall be subject to compliance by the Company and Participant with all applicable requirements of federal and state securities laws and with all applicable requirements of any stock exchange on which the Company's Common Stock may be listed at the time of such issuance or transfer. Participant understands that certificates evidencing Shares issued upon exercise of this Option may be required to bear a legend restricting the resale thereof without registration of such shares under the Securities Act of 1933, as amended. Participant understands that the Company is under no obligation to register or qualify the Shares with the Securities and Exchange Commission, any state securities commission or any stock exchange to effect such compliance.

Compliance with Securities Laws and Regulations. The exercise of the Option and the issuance and transfer of Shares shall be subject to compliance by the Company and Participant with all applicable requirements of federal and state securities laws and with all applicable requirements of any stock exchange on which the Company's ’s Common Stock may be listed at the time of such issuance or transfer. Participant understands that certificates evidencing Shares issued upon exercise of this Option may be required to bear a legend restricting the resale thereof without registration of such shares under the Securities Act of 1933, as amended. Participant understands that the Company is under no obligation to register or qualify the Shares with the Securities and Exchange Commission, any state securities commission or any stock exchange to effect such compliance.