Common use of Trading Policy Clause in Contracts

Trading Policy. After the Company has consummated its first public offering of securities pursuant to a registration statement filed under the Securities Act of 1933, as amended, the Company shall establish a trading policy (the "Trading Policy") relating to the sale of shares of the Company by officers, directors and principal shareholders. The Trading Policy shall provide that any such person may purchase or sell securities of the Company only during the period commencing 48 hours after release of the Company's operating results, and ending on the day which is no less than two weeks prior to expiration of the fiscal quarter within which such announcement is made.

Trading Policy. After the Company has consummated its first public offering of securities pursuant to a registration statement filed under the Securities Act of 1933, as amended, the Company shall establish a trading policy (the "Trading Policy") relating to the sale of shares of the Company by officers, directors and principal shareholders. The Trading Policy shall provide that any such person may purchase or sell securities of the Company only (i) during the period commencing 48 forty-eight (48) hours after release of the Company's operating results, and ending on the day which is no less than two weeks prior to expiration of the fiscal quarter within which such announcement is mademade or (ii) in accordance with Rule 10b-5-1 promulgated by the Commission in accordance with the Securities Exchange Act of 1934, as amended.