Common use of Standstills Clause in Contracts

Standstills. Notwithstanding any other provision of this Agreement, if requested by the Corporation and an underwriter in connection with a public offering of securities of the Corporation which are the same or similar to the Registrable Securities or convertible into such securities or evidencing a right to purchase such securities registered on Form X-0, X-0, X-0 or similar form of the SEC then available to the Corporation, the Shareholder shall not sell or otherwise transfer or dispose of any Registrable Securities held by him during the one hundred eighty (180) day period following the effective date of a registration statement of the Corporation filed under the Act; provided that the foregoing restrictions shall not apply to a registration statement relating solely to an employee benefit plan or a registration relating solely to a transaction covered by Rule 145 under the Act on Form S-4 or similar form or forms promulgated in the future. The Corporation may impose stop-transfer instructions with respect to the Registrable Securities subject to the foregoing restriction until the end of said one hundred eighty (180) day period.