Common use of Payment in Stock Clause in Contracts

Payment in Stock. To the extent that any Statement of Work provides for payment in Company Stock or other securities (“Stock”), the parties hereby agree as follows: i. The Company may not issue any Stock under a registration Statement on Form S-8 or Rule 701 under the Securities Act of 1933, as amended (the “1933 Act”); ii. Consultant hereby agrees to be bound by the Company’s xxxxxxx xxxxxxx or similar policy, if any, during the Term, and for 90 days thereafter; iii. All Stock shall be restricted and bear a standard 1933 Act legend; iv. The Company shall cause its counsel to provide an opinion letter for removal of any legend when and if such legend may be removed in accordance with applicable law.