Common use of Investment Requirement Clause in Contracts

Investment Requirement. The Director hereby agrees to purchase any ---------------------- shares by exercise of the Option for investment purposes only and not to resell any such shares in any manner violating the Securities Act of 1933, as amended, any rules promulgated thereunder, or any applicable state statute. Director hereby confirms that he has been advised of and understands the restrictions on resale of stock by virtue of Rule 144 promulgated under the Securities Act of 1933. This restriction or notice thereof shall be placed upon the certificate representing any shares purchased.