Common use of Entirely for Own Account Clause in Contracts

Entirely for Own Account. This Agreement is made with the Optionee in reliance upon the Optionee’ s representation to the Company, which by the Optionee’ s execution of this Agreement, the Optionee hereby confirms, that the Common Stock to be acquired by the Optionee will be acquired for investment for the Optionee’ s own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that the Optionee has no present intention of selling, granting any participation in, or otherwise distributing the same. By executing this Agreement, the Optionee further represents that the Optionee does not presently have any contract, undertaking, agreement or arrangement with any Person to sell, transfer or grant participations to such Person or to any third Person, with respect to any of the Shares. The Optionee has not been formed for the specific purpose of acquiring the Shares.