Common use of Status of Shares Clause in Contracts

Status of Shares. Employee agrees that the Restricted Shares will not be sold or otherwise disposed of in any manner which could constitute a violation of any applicable federal or state securities laws. Employee also agrees (i) that the certificates representing the Restricted Shares may bear such legend or legends as the Company deems appropriate in order to assure compliance with applicable securities laws, (ii) that the Company may refuse to register the transfer of the Restricted Shares on the share transfer records of the Company if such proposed transfer would be in the opinion of counsel satisfactory to the Company constitute a violation of any applicable securities law and (iii) that the Company may give related instructions to is transfer agent, if any, to stop registration of the transfer of the Restricted Shares.

Status of Shares. Employee Director agrees that that, notwithstanding anything to the Restricted contrary herein, the Shares will may not be sold sold, transferred, pledged, exchanged, hypothecated or otherwise disposed of in any manner which could that would constitute a violation of any applicable federal or state securities laws. Employee Director also agrees that (i) that certificates shall bear the certificates representing the Restricted Shares may bear such legend or legends as the Company Committee deems appropriate in order to assure compliance with applicable securities laws, (ii) that the Company may refuse to register the transfer of the Restricted Shares on the share transfer records of the Company if such proposed transfer would be in the opinion of counsel satisfactory to the Company constitute a violation of any applicable securities law law, and (iii) that the Company may give related instructions to is its transfer agent, if any, to stop registration of the transfer of the Restricted Shares.