Common use of Optionee Acknowledgment Clause in Contracts

Optionee Acknowledgment. Optionee agrees, represents and acknowledges that (1) Optionee’s exercise of the Option and purchase of Option Shares will be for Optionee’s own account or for the account of transferees permitted under Section 9 and not on behalf of any others; (2) certain laws govern and restrict Optionee’s right to offer, sell or otherwise dispose of any Option Shares, unless an exemption from such laws is available and otherwise deemed appropriate by the Committee; (3) Optionee will not offer, sell or otherwise dispose of any Option Shares in any way which would cause Optionee or any Gateway Company to violate any Requirement or require any Gateway Company to register such disposition under any Requirement; (4) Optionee may be required upon Option exercise or upon subsequent transfer of Option Shares to furnish representations and undertakings deemed appropriate by the Committee for compliance with Requirements; (5) certificates evidencing Option Shares will bear such legends, if any, deemed appropriate by the Committee for compliance with Requirements; (6) Optionee will not offer, sell or otherwise dispose of any Option Shares in violation of any policy of a Gateway Company; (7) the Option is not intended to be an “incentive stock option” within the meaning of Section 422 of the Code; (8) nothing in this Agreement prevents Optionee’s removal or change in compensation as a director of the Company in accordance with the Company’s Certificate of Incorporation or Bylaws or with applicable law; (9) Optionee only has rights as a stockholder of Option Shares if and to the extent that Optionee exercises the Option and retains ownership of Option Shares; and (10) Optionee will be bound by the provisions of this Agreement and the Plan as of the Grant Date.

Optionee Acknowledgment. Optionee agrees, represents and acknowledges that (1) Optionee’s exercise of the Option and purchase of Option Shares will be for Optionee’s own account or for the account of transferees permitted under Section 9 and not on behalf of any others; (2) certain laws govern and restrict Optionee’s right to offer, sell or otherwise dispose of any Option Shares, unless an exemption from such laws is available and otherwise deemed appropriate by the Committee; (3) Optionee will not offer, sell or otherwise dispose of any Option Shares in any way which would cause Optionee or any Gateway the Company to violate any Requirement or require any Gateway the Company to register such disposition under any Requirement; (4) Optionee may be required upon Option exercise or upon subsequent transfer of Option Shares to furnish representations and undertakings deemed appropriate by the Committee for compliance with Requirements; (5) certificates evidencing Option Shares will bear such legends, if any, deemed appropriate by the Committee for compliance with Requirements; (6) Optionee will not offer, sell or otherwise dispose of any Option Shares in violation of any policy of a Gateway the Company; (7) the Option is not intended to be an “incentive stock option” option within the meaning of Section 422 of the Code; (8) nothing in this Agreement prevents Optionee’s removal or change in compensation as a director of the Company in accordance with the Company’s Certificate of Incorporation or Bylaws or with applicable law; (9) Optionee only has rights as a stockholder of Option Shares if and to the extent that Optionee exercises the Option and retains ownership of Option Shares; and (10) Optionee will be bound by the provisions of this Agreement and the Plan as of the Grant Date.;

Optionee Acknowledgment. Optionee agrees, represents and acknowledges that (1) Optionee’s exercise of the Option and purchase of Option Shares will be for Optionee’s own account or for the account of transferees permitted under Section 9 and not on behalf of any others; (2) certain laws govern and restrict Optionee’s right to offer, sell or otherwise dispose of any Option Shares, unless an exemption from such laws is available and otherwise deemed appropriate by the Committee; (3) Optionee will not offer, sell or otherwise dispose of any Option Shares in any way which would cause Optionee or any Gateway Company to violate any Requirement or require any Gateway Company to register such disposition under any Requirement; (4) Optionee may be required upon Option exercise or upon subsequent transfer of Option Shares to furnish representations and undertakings deemed appropriate by the Committee for compliance with Requirements; (5) certificates evidencing Option Shares will bear such legends, if any, deemed appropriate by the Committee for compliance with Requirements; (6) Optionee will not offer, sell or otherwise dispose of any Option Shares in violation of any policy of a Gateway Company; (7) the Option is not intended to be an “incentive stock option” within the meaning of Section 422 of the Code; (8) nothing in this Agreement prevents Optionee’s removal or change in compensation as a an employee and/or director of the Company in accordance with the Company’s Certificate of Incorporation or Bylaws or with applicable law; (9) Optionee only has rights as a stockholder of Option Shares if and to the extent that Optionee exercises the Option and retains ownership of Option Shares; and (10) Optionee will be bound by the provisions of this Agreement and the Plan as of the Grant Date.