JCPenney 2015 Annual Report Download - page 135
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never be deemed to be a waiver of any rights or remedies
hereunder, at law or in equity. The Executive or the Company
may waive compliance by the other party with any provision
of this Notice that such other party was or is obligated to
comply with or perform only through an executed writing;
provided, however, that such waiver will not operate as a
waiver of, or estoppel with respect to, any other or
subsequent failure.
(o) . The parties hereto will not
voluntarily undertake or fail to undertake any action or course
of action that is inconsistent with the provisions or essential
intent of this Notice. Furthermore, it is the intent of the parties
hereto to act in a fair and reasonable manner with respect to
the interpretation and application of the provisions of this
Notice.
(p) . To the extent this Notice
provides for issuance of stock certificates to reflect the
issuance of shares of Common Stock in connection with this
award, the issuance may be effected on a non-certificate
basis, to the extent not prohibited by applicable law or the
applicable rules of any stock exchange on which the Common
Stock is traded.
( q ) .
Notwithstanding anything contained herein to the contrary, the
Company will not be required to sell or issue shares of
Common Stock in connection with the award under this Notice
if the issuance thereof would constitute a violation by You or
the Company of any provisions of any law or regulation of any
governmental authority or any national securities exchange or
inter-dealer quotation system or other forum in which shares
of Common Stock are quoted or traded (including without
limitation Section 16 of the Securities Exchange Act of 1934);
and, as a condition of any sale or issuance of shares of
Common Stock under this Notice, the Board or its designee
may require such agreements or undertakings, if any, as the
Board or its designee may deem necessary or advisable to
assure compliance with any such law or regulation. The grant
and operation of this award, as evidenced by this Notice, and
the