CONDITION OF EXERCISE OF OPTION. In order to enable the Employer to comply with the Securities Act of 1933, as amended (the "Securities Act"), the Employer may require the Employee, his legal representative, heir, legatee or distributee, as a condition of the exercising of any option granted hereunder, to give written assurance satisfactory to the Employer that the stock subject to the option is being acquired for investment purposes only, with no view to the distribution of the same, and that any subsequent resale of any such shares either shall be made pursuant to a registration statement under the Securities Act which has become effective and is current with regard to the shares being sold, or shall be pursuant to an exemption from registration under the Security Act and any applicable states securities laws.
Appears in 8 contracts
Samples: Stock Option Agreement (Interactive Pictures Corp), Stock Option Agreement (Interactive Pictures Corp), Stock Option Agreement (Interactive Pictures Corp)
