Common use of Acknowledgments by Optionee Clause in Contracts

Acknowledgments by Optionee. Optionee acknowledges that he has been advised, and that Optionee understands, that: (a) this document constitutes part of a prospectus covering securities that have been or will be registered under the Securities Act of 1933; (b) the grant of Option Rights and the issuance of any Common Shares pursuant to the exercise of Option Rights may be subject to, or may become subject to, applicable reporting, disclosure and holding period restrictions imposed by Rule 144 under the Securities Act of 1933 (“Rule 144”) and Section 16 of the Securities Exchange Act of 1934 (“Section 16”); and (c) Common Shares acquired could be subject to Section 16(a) reporting requirements as well as the short swing trading prohibition contained in Section 16(b) which precludes any profit taking with respect to any stock transactions which occur within any six-month period.