Restrictions of Transfer; Legend. Unless registered pursuant to the provisions of the Securities Act of 1933, as amended (the "Securities Act"), Option Shares may not be transferred without the Company's written consent except by will, or by the laws of descent and distribution. Option Shares will be of an illiquid nature and will be deemed to be "restricted securities" for purposes of the Securities Act, unless registered. Accordingly, such shares must be sold in compliance with the registration requirements of the Securities Act or an exemption therefrom.
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Samples: Employment Agreement (Ionics Inc), Employment Agreement (Ionics Inc), Qualified Stock Option Agreement (Ionics Inc)
Restrictions of Transfer; Legend. Unless registered pursuant to the provisions of the Securities Act of 1933, as amended (the "“Securities Act"”), Option Shares may not be transferred without the Company's ’s written consent except by will, or by the laws of descent and distribution. Option Shares will be of an illiquid nature and will be deemed to be "“restricted securities" ” for purposes of the Securities Act, unless registered. Accordingly, such shares must be sold in compliance with the registration requirements of the Securities Act or an exemption therefrom.
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