Common use of SECURITIES LAW ISSUES, TRANSFER RESTRICTIONS Clause in Contracts

SECURITIES LAW ISSUES, TRANSFER RESTRICTIONS. (a) Grantee Acknowledgements and Representations. The Grantee understands and agrees that: (x) neither the Option nor the Incentive Shares have been registered under the Securities Act, (y) the Option and the Incentive Shares are restricted securities under the Securities Act and (z) neither the Option nor the Incentive Shares may be resold or transferred unless they are first registered under the Securities Act or unless an exemption from such registration is available. The Grantee hereby makes the representations and warranties set forth in Exhibit B hereto.

SECURITIES LAW ISSUES, TRANSFER RESTRICTIONS. (a) Grantee Acknowledgements and Representations. The Grantee understands and agrees that: (x) neither the Option nor the Incentive Shares Units have been registered under the Securities Act, (y) the Option and the Incentive Shares Units are restricted securities under the Securities Act and (z) neither the Option nor the Incentive Shares Units may be resold or transferred unless they are first registered under the Securities Act or unless an exemption from such registration is available. The Grantee hereby makes the representations and warranties set forth in Exhibit B hereto.