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This stock certificate has been sold by the company in reliance upon the availability of the provisions of regulations s adopted pursuant to the securities act of 1933. As amended, by the united states securites and exchange commission. As such, this security has not been registered unter the securities act of 1933, as amended, in the united states. The company reserves the right to refuse to register any transfer not made in accordance with regulation s. Therefore, the company will not honor a transfeer unless accompanied by an opinion of legal counsel approved by XXX inc. that the transfer can be made in accordance with applicable law.