Common use of Clawback Right Clause in Contracts

Clawback Right. If the Company has not consummated an IPO by December 31, 2006, then except as provided in Section 4(d) hereof, the Company shall have the right to repurchase (the “Clawback Right”) from the Grantee, and the Grantee hereby agrees to sell to the Company, up to 958 Shares (the “Clawback Shares”) at a price of $10.00 per Share; provided, however, that the provisions of this Section 4(b) shall not apply in the event underwriters reasonably acceptable to the Company propose an IPO of the Company’s common stock based upon an expected pre-offering valuation of the Company’s stockholders’ equity of at least $200,000,000 and the Company elects not to consummate such an offering. Notwithstanding anything herein to the contrary, the Clawback Right shall be applicable to the Grantee only if the Grantee has been granted 100 or more Shares hereunder.

Clawback Right. If the Company has not consummated an IPO by December 31, 2006, then except as provided in Section 4(d) hereof, the Company shall have the right to repurchase (the “Clawback Right”) from the Grantee, and the Grantee hereby agrees to sell to the Company, up to 958 640 Shares (the “Clawback Shares”) at a price of $10.00 per Share; provided, however, that the provisions of this Section 4(b) shall not apply in the event underwriters reasonably acceptable to the Company propose an IPO of the Company’s common stock based upon an expected pre-offering valuation of the Company’s stockholders’ equity of at least $200,000,000 and the Company elects not to consummate such an offering. Notwithstanding anything herein to the contrary, the Clawback Right shall be applicable to the Grantee only if the Grantee has been granted 100 or more Shares hereunder.

Clawback Right. If the Company has not consummated an IPO by December 31, 2006, then except as provided in Section 4(d) hereof, the Company shall have the right to repurchase (the “Clawback Right”) from the Grantee, and the Grantee hereby agrees to sell to the Company, up to 958 9,201 Shares (the “Clawback Shares”) at a price of $10.00 per Share; provided, however, that the provisions of this Section 4(b) shall not apply in the event underwriters reasonably acceptable to the Company propose an IPO of the Company’s common stock based upon an expected pre-offering valuation of the Company’s stockholders’ equity of at least $200,000,000 and the Company elects not to consummate such an offering. Notwithstanding anything herein to the contrary, the Clawback Right shall be applicable to the Grantee only if the Grantee has been granted 100 or more Shares hereunder.

Clawback Right. If the Company has not consummated an IPO by December 31, 2006, then except as provided in Section 4(d) hereof, the Company shall have the right to repurchase (the “Clawback Right”) from the Grantee, and the Grantee hereby agrees to sell to the Company, up to 958 1,017 Shares (the “Clawback Shares”) at a price of $10.00 per Share; provided, however, that the provisions of this Section 4(b) shall not apply in the event underwriters reasonably acceptable to the Company propose an IPO of the Company’s common stock based upon an expected pre-offering valuation of the Company’s stockholders’ equity of at least $200,000,000 and the Company elects not to consummate such an offering. Notwithstanding anything herein to the contrary, the Clawback Right shall be applicable to the Grantee only if the Grantee has been granted 100 or more Shares hereunder.

Clawback Right. If the Company has not consummated an IPO by December 31, 2006, then except as provided in Section 4(d) hereof, the Company shall have the right to repurchase (the “Clawback Right”) from the Grantee, and the Grantee hereby agrees to sell to the Company, up to 958 1,044 Shares (the “Clawback Shares”) at a price of $10.00 per Share; provided, however, that the provisions of this Section 4(b) shall not apply in the event underwriters reasonably acceptable to the Company propose an IPO of the Company’s common stock based upon an expected pre-offering valuation of the Company’s stockholders’ equity of at least $200,000,000 and the Company elects not to consummate such an offering. Notwithstanding anything herein to the contrary, the Clawback Right shall be applicable to the Grantee only if the Grantee has been granted 100 or more Shares hereunder.