Common use of Security Act of 1933 Clause in Contracts

Security Act of 1933. Neither this Option nor the Option shares have -------------------- been registered under the Securities Act of 1933, and this Option cannot be sold or transferred, and the Option shares obtained by the exercise of this Option cannot be sold or transferred except in accordance with the Stock Transfer Restriction Agreement entered into concurrently herewith, and in accordance with all applicable state and federal securities laws. The Employee represent and warrants as follows: (a) she is familiar with the business and financial condition of the Company and all reasonable requests for information with respect thereto made by her have been fulfilled to her satisfaction; (b) she has been advised that the Board of Directors may issue additional stock or other securities that may dilute the percentage of the outstanding stock of NRS represented by this Option Agreement; (c) any option shares when acquired will be acquired by the Employee for investment and not with a view to the distribution or resale thereof; (d) the share certificates issued to her upon the exercise of this Option will carry a legend indicating the restriction on transfer in accordance with the Stock Transfer Restriction Agreement entered into by her concurrently herewith. In all cases Employee will follow the advise of NRS legal counsel and will take all actions necessary to comply with applicable federal and state law. Employee agrees to hold harmless and indemnify NRS and its directors and officers, from and against any and all liabilities resulting from violation by the Employee of the above warranties and representations, or violation by Employee of any applicable state or federal law.