Restrictions on Exercise. This Option may not be exercised until the Plan has been approved by the stockholders of the Company. If the issuance of Shares upon such exercise or if the method of payment for such Shares would constitute a violation of any applicable federal or state securities or other law or regulation, then the Option may also not be exercised. The Company may require Optionee to make any representation and warranty to the Company as may be required by any applicable law or regulation before allowing the Option to be exercised.

Restrictions on Exercise. This Option may not be exercised until such time as the Plan has been approved by the stockholders of the Company. IfCompany, or if the issuance of such Shares upon such exercise or if the method of payment of consideration for such Sharesshares would constitute a violation of any applicable federal or state securities or other law or regulation, then the Option may also not be exercised. The Company may require Optionee to make any representation and warranty to the Company as may be required by any applicable law or regulation before allowing the Option to be exercised.Applicable Law.

Restrictions on Exercise. This Option may not be exercised until such time as the Plan has been approved by the stockholdersshareholders of the Company. IfCompany, or if the issuance of such Shares upon such exercise or if the method of payment of consideration for such Sharesshares would constitute a violation of any applicable federal or state securities or other law or regulation, then the Option may also not be exercised. The Company may require Optionee to make any representation and warranty to the Company as may be required by any applicable law or regulation before allowing the Option to be exercised.Applicable Law.

Restrictions on Exercise.The Company is not obligated, and will have no liability for failure, to issue or deliver any Shares upon exercise of the Option unless such issuance or delivery would comply with the Applicable Laws, with such compliance determined by the Company in consultation with its legal counsel. This Option may not be exercised until such time as the Plan has been approved by the stockholders of the Company. IfCompany, or if the issuance of such Shares upon such exercise or if the method of payment of consideration for such Sharesshares would constitute a violation of any applicable federal or state securities or other law or regulation, thenincluding any rule under Part ​ of Title 12 of the Option may also not be exercised. TheCode of Federal Regulations as promulgated by the Federal Reserve Board. As a condition to the exercise of this Option, the Company may require Optionee to make any representation and warranty to the Company as may be required by any applicable law or regulation before allowingthe Applicable Laws. Assuming such compliance, for income tax purposes the Shares shall be considered transferred to Optionee on the date on which the Option is exercised with respect to be exercised.such Shares.

Restrictions on Exercise.exercise. This Incentive Stock Option may not be exercised until the Plan has been approved by the stockholders of the Company. Ifif the issuance of the Shares upon such exercise or if the method of payment for such Shares would constitute a violation of any applicable federal or state securities or other law or regulation, thenvalid regulation. As a condition to the Option may also not be exercised. The CompanyParticipant's exercise of this option, the Bank may require Optioneethe person exercising this option to make any representation and warranty to the CompanyBank as may be required by any applicable law or regulation before allowing the Option to be exercised.regulation.