Securities Laws Restrictions on Resale. Until registered under the Securities Act of 1933, as amended, or any successor statute (the Securities Act), the Option Shares will be of an illiquid nature and will be deemed to be restricted securities for purposes of the Securities Act. Accordingly, such shares must be sold in compliance with the registration requirements of the Securities Act or an exemption therefrom. Unless the Option Shares have been registered under the Securities Act, each certificate evidencing any of the Option Shares shall bear a legend substantially as follows:
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