Common use of Restrictions on Transfers of Shares Clause in Contracts

Restrictions on Transfers of Shares. Anything contained in this AGREEMENT or elsewhere to the contrary notwithstanding, the COMPANY may postpone the issuance and delivery of SHARES upon any exercise of the OPTION until completion of any stock exchange listing or registration or other qualification of such SHARES under any state or federal law, rule or regulation as the COMPANY may consider appropriate; and may require the OPTIONEE when exercising the OPTION to make such representations and furnish such information as the COMPANY may consider appropriate in connection with the issuance of the SHARES in compliance with applicable laws, rules and regulations. SHARES issued and delivered upon exercise of the OPTION shall be subject to such restrictions on trading, including appropriate legending of certificates to that effect, as the COMPANY, in its discretion, shall determine are necessary to satisfy applicable laws, rules and regulations.

Restrictions on Transfers of Shares. Anything ----------------------------------- contained in this AGREEMENT Agreement or elsewhere to the contrary notwithstanding, the COMPANY Company may postpone the issuance and delivery of SHARES Shares upon any exercise of the OPTION Option until completion of any stock exchange listing or registration or other qualification of such SHARES Shares under any state or federal law, rule or regulation as the COMPANY Company may consider appropriate; and . The Company may require the OPTIONEE Director, when exercising the OPTION Option, to make such representations and furnish such information as the COMPANY Company may consider appropriate in connection with the issuance of the SHARES Shares in compliance with applicable laws, rules and regulationslaw. SHARES Shares issued and delivered upon exercise of the OPTION Option shall be subject to such restrictions on trading, including appropriate legending of certificates to that effect, as the COMPANYCompany, in its discretion, shall determine are necessary to satisfy applicable laws, rules legal requirements and regulationsobligations.