Common use of Common Stock To Be Received Upon Exercise Clause in Contracts

Common Stock To Be Received Upon Exercise. Optionee understands --------------------------------------------- that (a) the Company is under no obligation to register the issuance or transfer of the Option Shares, and (b) in the absence of any such registration, the Option Shares cannot be sold unless they are sold pursuant to an exemption from registration under the 1933 Act. Thus, the Option Shares will have to be held indefinitely in the absence of registration under the Act or an exemption from registration. Furthermore, the Optionee fully understands that issuance of the Option Shares will not be registered under the Act and that, because the issuance of the Option Shares will not be registered, the Option Shares will be issued in reliance upon an exemption which is available only if Optionee acquires such shares for investment and not with a view to distribution. Optionee is familiar with the phrase "acquired for investment and not with a view to distribution" as it relates to the Act and the special meaning given to such term in various releases of the Securities and Exchange Commission.

Common Stock To Be Received Upon Exercise. Optionee understands --------------------------------------------- that (a) the Company is under no obligation to register the issuance or transfer of the Option Shares, and (b) in the absence of any such registration, the Option Shares cannot be sold unless they are sold pursuant to an exemption from registration under the 1933 Act. Thus, the Option Shares will have to be held indefinitely in the absence of registration under the Act or an exemption from registration. Furthermore, the Optionee fully understands that issuance of the Option Shares will not be registered under the Act and that, because the issuance of the Option Shares will not be registered, the Option Shares will be issued in reliance upon an exemption which is available only if Optionee acquires such shares for investment and not with a view to distribution. Optionee is familiar with the phrase "“acquired for investment and not with a view to distribution" ” as it relates to the Act and the special meaning given to such term in various releases of the Securities and Exchange Commission.