Common use of Securities Laws Restrictions Clause in Contracts

Securities Laws Restrictions. The Executive represents that when the Executive exercises the Option he will be purchasing Option Shares for the Executive’s own account and not on behalf of others. The Executive understands and acknowledges that federal and state securities laws govern and restrict the Executive’s right to offer, sell or otherwise dispose of any Option Shares unless the Executive’s offer, sale or other disposition thereof is registered under the Securities Act and state securities laws or, in the opinion of the Company’s counsel, such offer, sale or other disposition is exempt from registration thereunder. The Executive agrees that he will not offer, sell or otherwise dispose of any Option Shares in any manner which would: (i) require the Company to file any registration statement (or similar filing under state law) with the Securities and Exchange Commission or to amend or supplement any such filing or (ii) violate or cause the Company to violate the Securities Act, the rules and regulations promulgated thereunder or any other state or federal law. The Executive further understands that the certificates for any Option Shares the Executive purchases will bear the legend set forth in Section 4 hereof or such other legends as the Company deems necessary or desirable in connection with the Securities Act or other rules, regulations or laws.

Securities Laws Restrictions. The Executive represents that when the Executive exercises the Option he Executive will be purchasing Option Shares for the Executive’s own account and not on behalf of others. The Executive understands and acknowledges that federal and state securities laws govern and restrict the Executive’s right to offer, sell or otherwise dispose of any Option Shares unless the Executive’s offer, sale or other disposition thereof is registered under the Securities Act and state securities laws or, in the opinion of the Holding Company’s ’ counsel, such offer, sale or other disposition is exempt from registration thereunder. The Executive agrees that he it will not offer, sell or otherwise dispose of any Option Shares in any manner which would: (i) require the Holding Company to file any registration statement (or similar filing under state law) with the Securities and Exchange Commission or to amend or supplement any such filing or (ii) violate or cause the Holding Company to violate the Securities Act, the rules and regulations promulgated thereunder or any other state or federal law. The Executive further understands that the certificates for any Option Shares the Executive purchases will bear the legend set forth in Section 4 hereof or such other legends as the Holding Company deems necessary or desirable in connection with the Securities Act or other rules, regulations or laws.

Securities Laws Restrictions. The Executive Director represents that when the Executive Director exercises the Option he will be purchasing Option Shares for the ExecutiveDirector’s own account and not on behalf of others. The Executive Director understands and acknowledges that federal and state securities laws govern and restrict the ExecutiveDirector’s right to offer, sell or otherwise dispose of any Option Shares unless the ExecutiveDirector’s offer, sale or other disposition thereof is registered under the Securities Act and state securities laws or, in the opinion of the Company’s counsel, such offer, sale or other disposition is exempt from registration thereunder. The Executive Director agrees that he will not offer, sell or otherwise dispose of any Option Shares in any manner which would: (i) require the Company to file any registration statement (or similar filing under state law) with the Securities and Exchange Commission or to amend or supplement any such filing or (ii) violate or cause the Company to violate the Securities Act, the rules and regulations promulgated thereunder or any other state or federal law. The Executive Director further understands that the certificates for any Option Shares the Executive Director purchases will bear the legend set forth in Section 4 hereof or such other legends as the Company deems necessary or desirable in connection with the Securities Act or other rules, regulations or laws.

Securities Laws Restrictions. The Executive represents that when the Executive exercises the Option he will be purchasing Option Shares for the Executive’s 's own account and not on behalf of others. The Executive understands and acknowledges that federal and state securities laws govern and restrict the Executive’s 's right to offer, sell or otherwise dispose of any Option Shares unless the Executive’s offer's of her, sale or other disposition thereof is registered under the Securities Act and state securities laws or, in the opinion of the Company’s ' counsel, such offer, sale or other disposition is exempt from registration thereunder. The Executive agrees that he will not offer, sell or otherwise dispose of any Option Shares in any manner which would: (i) require the Company company to file any registration statement (or similar filing under state law) with the Securities and Exchange Commission or to amend or supplement any such filing or (ii) violate or cause the Company to violate the Securities Act, . the rules and regulations promulgated thereunder or any other state or federal law. The law Executive further understands that the certificates for any Option Shares the Executive purchases will bear the legend set forth in Section 4 5 hereof or such other legends as the Company deems necessary or desirable in connection with the Securities Act or other rules, regulations or laws.

Securities Laws Restrictions. The Executive represents that when the Executive exercises the Option Options he will be purchasing Option Shares Executive Stock for the Executive’s 's own account and not on behalf of others. The Executive understands and acknowledges that federal and state securities laws govern and restrict the Executive’s 's right to offer, sell or otherwise dispose of any Option Shares Executive Stock unless the Executive’s 's offer, sale or other disposition thereof is registered under the Securities Act of 1933, as amended (the "1933 Act") and state securities laws or, in the opinion of the Company’s 's counsel, such offer, sale or other disposition is exempt from registration thereunder. The Executive agrees that he will not offer, sell or otherwise dispose of any Option Shares Executive Stock in any manner which would: (i) require the Company to file any registration statement (or similar filing under state law) with the Securities and Exchange Commission or to amend or supplement any such filing or (ii) violate or cause the Company to violate the Securities 1933 Act, the rules and regulations promulgated thereunder or any other state or federal law. The Executive further understands that the certificates for any Option Shares the Executive Stock Executive purchases will bear the legend set forth in Section paragraph 4 hereof or such other legends as the Company deems necessary or desirable in connection with the Securities 1933 Act or other rules, regulations or laws.

Securities Laws Restrictions. The Executive represents that when the Executive exercises any of the Option Options he will be purchasing Option Shares for the Executive’s own account and not on behalf of others. The Executive understands and acknowledges that federal and state securities laws govern and restrict the Executive’s right to offer, sell or otherwise dispose of any Option Shares unless the Executive’s offer, sale or other disposition thereof is registered under the Securities 1933 Act and state securities laws or, in the opinion of the Company’s counsel, such offer, sale or other disposition is exempt from registration thereunder. The Executive agrees that he will not offer, sell or otherwise dispose of any Option Shares in any manner which would: (i) require the Company to file any registration statement (or similar filing under state law) with the Securities and Exchange Commission or to amend or supplement any such filing or (ii) violate or cause the Company to violate the Securities 1933 Act, the rules and regulations promulgated thereunder or any other state or federal law. The Executive further understands that the certificates for any Option Shares the which Executive purchases will bear the legend set forth in Section 4 paragraph 6 hereof or such other legends as the Company deems necessary or desirable in connection with the Securities 1933 Act or other rules, regulations or laws.

Securities Laws Restrictions. The Executive represents that when the Executive exercises the Option he Executive will be purchasing Option Shares for the Executive’s 's own account and not on behalf of others. The Executive understands and acknowledges that federal and state securities laws govern and restrict the Executive’s 's right to offer, sell or otherwise dispose of any Option Shares unless the Executive’s 's offer, sale or other disposition thereof is registered under the Securities Act and state securities laws or, in the opinion of the Holding Company’s ' counsel, such offer, sale or other disposition is exempt from registration thereunder. The Executive agrees that he it will not offer, sell or otherwise dispose of any Option Shares in any manner which would: (i) require the Holding Company to file any registration statement (or similar filing under state law) with the Securities and Exchange Commission or to amend or supplement any such filing or (ii) violate or cause the Holding Company to violate the Securities Act, the rules and regulations promulgated thereunder or any other state or federal law. The Executive further understands that the certificates for any Option Shares the Executive purchases will bear the legend set forth in Section 4 hereof or such other legends as the Holding Company deems necessary or desirable in connection with the Securities Act or other rules, regulations or laws.

Securities Laws Restrictions. The Executive represents that when the ---------------------------- Executive exercises the Option Options he will be purchasing Option Shares for the Executive’s 's own account and not on behalf of others. The Executive understands and acknowledges that federal and state securities laws govern and restrict the Executive’s 's right to offer, sell or otherwise dispose of any Option Shares unless the Executive’s 's offer, sale or other disposition thereof is registered under the Securities 1933 Act and state securities laws or, in the opinion of the Company’s 's counsel, such offer, sale or other disposition is exempt from registration thereunder. The Executive agrees that he will not offer, sell or otherwise dispose of any Option Shares in any manner which would: (i) require the Company to file any registration statement (or similar filing under state law) with the Securities and Exchange Commission or to amend or supplement any such filing or (ii) violate or cause the Company to violate the Securities 1933 Act, the rules and regulations promulgated thereunder or any other state or federal law. The Executive further understands that the certificates for any Option Shares the Executive purchases will bear the legend set forth in Section 4 paragraph 6 hereof or such other legends as the Company deems necessary or desirable in connection with the Securities 1933 Act or other rules, regulations or laws.