Common use of Section 16 Requirements Clause in Contracts

Section 16 Requirements. If Participant is subject to Section 16(a) of the Exchange Act, (i) any Shares offered to a Section 16 Participant may not be sold for six (6) months after acquisition; (ii) any Shares or other equity security acquired by a Section 16 Participant upon exercise of an Option may not be sold for six (6) months after the date of grant of the Option; and (iii) any Option or other similar right related to an equity security shall not be transferable except in accordance with the rules under Section 16 of the Exchange Act, subject to any other applicable transfer restrictions under this Agreement.