Common use of Securities Act and Other Regulatory Requirements Clause in Contracts

Securities Act and Other Regulatory Requirements. If through any act or omission of Employee the exercise of the Options or the sale of any of the underlying shares of stock would, in the opinion of counsel for the Company, violate the Securities Act of 1933 (or any other federal or state statutes having similar requirements) as it may be in effect at that time, then the Options shall not be exercisable and the Company shall not be obligated to sell any shares subject to the Options. Further, the Board of Directors of the Company may require as a condition of issuance of any shares under the Options that Employee furnish a written representation that Employee is acquiring the shares for investment and not with a view to distribution to the public.