Acknowledgments of Optionee. Optionee has reviewed the Plan and this Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Agreement, fully understands all provisions of the Plan and this Agreement and, by accepting the Notice of Xxxxx, acknowledges and agrees to all of the provisions of the Grant Notice, the Plan and this Agreement.
Acknowledgments of Optionee. Optionee acknowledges and agrees that:
Acknowledgments of Optionee. The Option granted under this Agreement is intended to provide to the Optionee an opportunity to purchase Shares. The Optionee provides service to NVR in the capacity of a non-employee director. The Optionee acknowledges that such position, the Option granted under this Agreement and the other benefits of his or her service in that capacity are being conferred upon the Optionee only because of and on the condition of the willingness of the Optionee to commit his or her best efforts and loyalty to NVR in the performance of the duties of that position.
Acknowledgments of Optionee. Optionee acknowledges and agrees that Optionee and his or her transferees shall have no rights as a shareholder with respect to any Option Shares until the date of the issuance of a stock certificate (or such other means of issuance of the Option Shares as provided by the Company in accordance with the terms of the Plan) evidencing such Option Shares. No adjustment shall be made for dividends (ordinary or extraordinary, whether in cash, securities or other property) or distributions or other rights for which the record date is prior to the date such stock certificate is issued, except as provided in Section 13 of the Plan.
Acknowledgments of Optionee. The Options granted pursuant to this Stock Option Agreement are personal to the Optionee and, prior to exercising such Options, may not be assigned or transferred to any other person except by will or the laws of descent and distribution. The Optionee acknowledges that he was informed that the Option Shares are not currently registered under the Act. Even after the Options are exercised, unless the Company has registered the Option Shares under the Act at that time, the Option Shares may not be transferred or otherwise disposed of unless the Option Shares are subsequently registered under the Act or an exemption from such registration is available. The Optionee was informed that the Company is under no obligation to register the Option Shares under the Act or to comply with any other applicable exemption under the Act with respect to the Option Shares. The undersigned will not sell or otherwise transfer the Option Shares, except by will or the laws of descent and distribution or except when such sale or transfer is made in compliance with the Act and all federal, state and local laws. The Optionee accepts the Options described herein in full satisfaction of all stock options and rights to receive any stock compensation under the Service Agreement.
Acknowledgments of Optionee. The Options granted pursuant to this Stock Option Agreement are personal to the Optionee and, prior to exercising such Options, may not be assigned or transferred to any other person except by will or the laws of descent and distribution. The Optionee acknowledges that he was informed that the Option Shares are not currently registered under the Act. Even after the Options are exercised, unless the Company has registered the Option Shares under the Act at that time, the Option Shares may not be transferred or otherwise disposed of unless the Option Shares are subsequently registered under the Act or an exemption from such registration is available. The Optionee was informed that the Company is under no obligation to register the Option Shares under the Act or to comply with any other applicable exemption under the Act with respect to the Option Shares. However, the undersigned is aware that the Company has entered into a Share for Share Exchange Agreement (the "Share Exchange Agreement") dated December 15, 1996 with TLC The Laser Center, Inc. ("TLC") pursuant to which, if the transaction contemplated therein closes, TLC will have obligations to register TLC shares held by the Company's former shareholders under the circumstances described in the Share Exchange Agreement and other documents referenced therein. The undersigned will not sell or otherwise transfer the Option Shares, except by will or the laws of descent and distribution or except when such sale or transfer is made in compliance with the Act and all applicable federal, state and local laws. The Optionee accepts the Options described herein in full satisfaction of all stock options and rights to receive any stock compensation under the Service Agreements.
Acknowledgments of Optionee. (a) NO RIGHT TO CONTINUATION OF BOARD MEMBERSHIP. OPTIONEE ACKNOWLEDGES AND AGREES THAT THE VESTING OF ORDINARY SHARES PURSUANT TO THE OPTION IS EARNED ONLY BY CONTINUING BOARD MEMBERSHIP AT THE WILL OF THE COMPANY (NOT THROUGH THE ACT OF BEING APPOINTED TO THE BOARD OF DIRECTORS, BEING GRANTED THIS OPTION OR ACQUIRING ORDINARY SHARES HEREUNDER). OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT NOTHING IN THIS AGREEMENT, NOR IN THE COMMTOUCH SOFTWARE LTD. 1999 NONEMPLOYEE DIRECTORS STOCK OPTION PLAN THAT IS INCORPORATED HEREIN BY REFERENCE, SHALL CONFER UPON OPTIONEE ANY RIGHT WITH RESPECT TO CONTINUATION OF BOARD MEMBERSHIP BY THE COMPANY, NOR SHALL IT INTERFERE IN ANY WAY WITH OPTIONEE'S RIGHT OR THE COMPANY'S RIGHT TO TERMINATE OPTIONEE'S BOARD MEMBERSHIP AT ANY TIME, WITH OR WITHOUT CAUSE.
Acknowledgments of Optionee
