Common use of COMPANY'S CALL RIGHT Clause in Contracts

COMPANY'S CALL RIGHT. If, prior to the date of the Company's IPO, the Company terminates Executive for Cause as defined in Section 5(d) hereof (including Executive quitting without Good Reason under Section 5(d)(5)), then the Company shall have the right but not the obligation to purchase any vested Restricted Membership Interest (or shares exchanged by such Interest) within thirty (30) days of the Termination Date at a price equal to two (2) times the price Executive originally paid the Company for such Restricted Membership Interest. The Call right must be exercised in writing by the Company within thirty (30) days of the Termination Date or it shall become void and without further effect. If the Company exercises the Call hereunder, Executive must tender such Interest or shares and otherwise complete the transaction hereunder within thirty (30) days of the Company's exercise of the Call.