Common use of Transferability of Option Shares Clause in Contracts

Transferability of Option Shares. The Participant hereby agrees that the Option Shares acquired upon exercise of the Option shall be acquired for the Participant's own account for investment purposes only and not with a view to any distribution or public or public offering thereof within the meaning of the Act, or other applicable securities laws. If the Board so determines, any stock certificates issued upon exercise of the Option shall bear a legend to the effect that the Option Shares have been so acquired. The Company shall not be required to bear any expenses of compliance with the Act, other applicable securities laws, or the rules and regulations of any national securities exchange or other regulatory authority in connection with the registration, qualification or transfer, as the case may be, of the Option or any Options Shares acquired upon exercise thereof. The foregoing restrictions on the transfer of Options Shares shall not apply if (i) the Company shall have been furnished with a satisfactory opinion of counsel to the effect that such transfer will be in compliance with the Act and all other applicable securities laws, or (ii) the Option Shares shall have been duly registered in compliance with the Act and all other applicable securities laws. The Participant further agrees that, upon any sale of Option Shares within two (2) years from the Date of Grant of the Option, or within one year after transfer of such Option Shares to the Participant's ownership, then the Participant shall immediately notify the Company in writing of such disposition and the amount realized by the Participant upon such disposition.

Transferability of Option Shares. The Participant hereby agrees that the Option Shares acquired upon exercise of the Option shall be acquired for the Participant's ’s own account for investment purposes only and not with a view to any distribution or public or public offering thereof within the meaning of the Act, or other applicable securities laws. If the Board so determines, any stock certificates issued upon exercise of the Option shall bear a legend to the effect that the Option Shares have been so acquired. The Company shall not be required to bear any expenses of compliance with the Act, other applicable securities laws, or the rules and regulations of any national securities exchange or other regulatory authority in connection with the registration, qualification or transfer, as the case may be, of the Option or any Options Shares acquired upon exercise thereof. The foregoing restrictions on the transfer of Options Shares shall not apply if (i) the Company shall have been furnished with a satisfactory opinion of counsel to the effect that such transfer will be in compliance with the Act and all other applicable securities laws, or (ii) the Option Shares shall have been duly registered in compliance with the Act and all other applicable securities laws. The Participant further agrees that, upon any sale of Option Shares within two (2) years from the Date of Grant of the Option, or within one year after transfer of such Option Shares to the Participant's ’s ownership, and then the Participant shall immediately notify the Company in writing of such disposition and the amount realized by the Participant upon such disposition.

Transferability of Option Shares. The Participant hereby agrees that the Option Shares acquired upon exercise of the Option shall be acquired for the Participant's own account for investment purposes only and not with a view to any distribution or public or public offering thereof within the meaning of the Act, or other applicable securities laws. If the Board so determines, any stock certificates issued upon exercise of the Option shall bear a legend to the effect that the Option Shares have been so acquired. The Company shall not be required to bear any expenses of compliance with the Act, other applicable securities laws, or the rules and regulations of any national securities exchange or other regulatory authority in connection with the registration, qualification or transfer, as the case may be, of the Option or any Options Option Shares acquired upon exercise thereof. The foregoing restrictions on the transfer of Options Option Shares shall not apply if (i) the Company shall have been furnished with a satisfactory opinion of counsel to the effect that such transfer will be in compliance with the Act and all other applicable securities laws, or (ii) the Option Shares shall have been duly registered in compliance with the Act and all other applicable securities laws. [Add for ISO's] [The Participant further agrees that, upon any sale of Option Shares within two (2) years from the Date of Grant of the Option, or within one year after transfer of such Option Shares to the Participant's ownership, then the Participant shall immediately notify the Company in writing of such disposition and the amount realized by the Participant upon such disposition.]

Transferability of Option Shares. The Participant hereby agrees that the Option Shares acquired upon exercise of the Option shall be acquired for the Participant's ’s own account for investment purposes only and not with a view to any distribution or public or public offering thereof within the meaning of the Act, or other applicable securities laws. If the Board so determines, any stock certificates issued upon exercise of the Option shall bear a legend to the effect that the Option Shares have been so acquired. The Company shall not be required to bear any expenses of compliance with the Act, other applicable securities laws, or the rules and regulations of any national securities exchange or other regulatory authority in connection with the registration, qualification or transfer, as the case may be, of the Option or any Options Shares acquired upon exercise thereof. The foregoing restrictions on the transfer of Options Shares shall not apply if (i) the Company shall have been furnished with a satisfactory opinion of counsel to the effect that such transfer will be in compliance with the Act and all other applicable securities laws, or (ii) the Option Shares shall have been duly registered in compliance with the Act and all other applicable securities laws. The Participant further agrees that, upon any sale of Option Shares within two (2) years from the Date of Grant of the Option, or within one year after transfer of such Option Shares to the Participant's ’s ownership, then the Participant shall immediately notify the Company in writing of such disposition and the amount realized by the Participant upon such disposition.

Transferability of Option Shares. The Participant hereby agrees that the Option Shares acquired upon exercise of the Option shall be acquired for the Participant's ’s own account for investment purposes only and not with a view to any distribution or public or public offering thereof within the meaning of the Act, or other applicable securities laws. If the Board so determines, any stock certificates issued upon exercise of the Option shall bear a legend to the effect that the Option Shares have been so acquired. The Company shall not be required to bear any expenses of compliance with the Act, other applicable securities laws, or the rules and regulations of any national securities exchange or other regulatory authority in connection with the registration, qualification or transfer, as the case may be, of the Option or any Options Shares acquired upon exercise thereof. The foregoing restrictions on the transfer of Options Shares shall not apply if (i) the Company shall have been furnished with a satisfactory opinion of counsel to the effect that such transfer will be in compliance with the Act and all other applicable securities laws, or (ii) the Option Shares shall have been duly registered in compliance with the Act and all other applicable securities laws. The Participant further agrees that, upon any sale of Option Shares within two (2) years from the Date of Grant of the Option, or within one year after transfer the Participant’s ownership of such the Option Shares to upon exercise of the Participant's ownershipOption, then the Participant shall immediately notify the Company in writing of such disposition and the amount realized by the Participant upon such disposition.