Common use of Exemptions from Section 16(b) Liability Clause in Contracts

Exemptions from Section 16(b) Liability. It is the intent of the Company that the grant of this Award to or other transaction by the Director contemplated by this Award shall be exempt from Section 16 of the Exchange Act pursuant to an applicable exemption (except for transactions acknowledged in writing to be non-exempt by the Director). Accordingly, if any provision of this Agreement does not comply with the requirements of Rule 16b-3 as then applicable to any such transaction, such provision shall be construed or deemed amended to the extent necessary to conform to the applicable requirements of Rule 16b-3 so that the Director shall avoid liability under Section 16(b) of the Exchange Act.

Exemptions from Section 16(b) Liability. It is the intent of the Company that the grant of this Award any Awards to or other transaction by a Participant who is subject to Section 16 of the Director contemplated by this Award Exchange Act shall be exempt from Section 16 of the Exchange Act pursuant to an applicable exemption (except for transactions acknowledged in writing to be non-exempt by the Directorsuch Participant). Accordingly, if any provision of this Plan or any Award Agreement does not comply with the requirements of Rule 16b-3 as then applicable to any such transaction, such provision shall be construed or deemed amended to the extent necessary to conform to the applicable requirements of Rule 16b-3 so that the Director such Participant shall avoid liability under Section 16(b) of the Exchange Act).

Exemptions from Section 16(b) Liability. It is the intent of the Company that the grant of this Award any Awards to or other transaction by the Director contemplated by this Award shall be exempt from Section a Participant who is subject to section 16 of the Exchange Act shall be exempt from such section pursuant to an applicable exemption (except for transactions acknowledged in writing to be non-exempt by the Directorsuch Participant). Accordingly, if any provision of this Agreement Plan or any Award agreement does not comply with the requirements of Rule 16b-3 as then applicable to any such transaction, such provision shall be construed or deemed amended to the extent necessary to conform to the applicable requirements of Rule 16b-3 so that the Director such Participant shall avoid liability under Section section 16(b) of the Exchange Act.