Common use of Company’s Right to Purchase upon Involuntary Transfer Clause in Contracts

Company’s Right to Purchase upon Involuntary Transfer. In ----------------------------------------------------- the event, at any time after the date of this Agreement, of any transfer by operation of law or other involuntary transfer (including death or divorce, but excluding a transfer to Immediate Family as set forth in Section 3(b)(vi)) of all or a portion of the Shares by the record holder thereof, the Company shall have an option to purchase all of the Shares transferred. The purchase price for Shares which have not been released from the Repurchase Option shall be the original purchase price per share specified in Section 1 (adjusted for any stock splits, stock dividends and the like); the purchase price for Shares which have been released from the Repurchase Option shall be the greater of the purchase price specified in Section 1 (adjusted for any stock splits, stock dividends and the like) and the fair market value of the Shares on the date of transfer. Upon such a transfer, the person acquiring the Shares shall promptly notify the Secretary of the Company of such transfer. The right to purchase such Shares shall be provided to the Company for a period of thirty (30) days following receipt by the Company of written notice by the person acquiring the Shares.

Company’s Right to Purchase upon Involuntary Transfer. In ----------------------------------------------------- the event, at any time after the date of this Agreement, of any transfer by operation of law or other involuntary transfer (including death divorce or divorcedeath, but excluding in the case of death a transfer to Immediate Family as set forth in Section 3(b)(vi)the Shareholder's spouse, lineal descendant or antecedent, father, mother, brother or sister, or a trust for the benefit of any of the foregoing) of all or a portion of the Shares by the record holder thereof, the Company shall have an option to purchase all of the Shares transferred. The purchase price for of the Shares which have not been released from the Repurchase Option shall be the original purchase price per share specified in Section 1 of such Shares (adjusted for any share exchanges, stock splits, stock dividends and the like); the purchase price for of the Shares which have been released from the Repurchase Option shall be the greater of the original purchase price specified in Section 1 of such Shares (adjusted for any share exchanges, stock splits, stock dividends and the like) and the fair market value of the such Shares on the date of transfer. Upon such a transfer, the person acquiring the Shares shall promptly notify the Secretary of the Company of such transfer. The right to purchase such Shares shall be provided to the Company for a period of thirty (30) days following receipt by the Company of written notice by the person acquiring the Shares.

Company’s Right to Purchase upon Involuntary Transfer. In the ----------------------------------------------------- the event, at any time after the date of this Agreement, of any transfer by operation of law or other involuntary transfer (including death divorce or divorcedeath, but excluding in the case of death a transfer to Immediate Family as set forth in Section 3(b)(vi)the Shareholder's spouse, lineal descendant or antecedent, father, mother, brother or sister, or a trust for the benefit of any of the foregoing) of all or a portion of the Shares by the record holder thereof, the Company shall have an option to purchase all of the Shares transferred. The purchase price for of the Shares which have not been released from the Repurchase Option shall be the original purchase price per share specified in Section 1 of such Shares (adjusted for any share exchanges, stock splits, stock dividends and the like); the purchase price for of the Shares which have been released from the Repurchase Option shall be the greater of the original purchase price specified in Section 1 of such Shares (adjusted for any share exchanges, stock splits, stock dividends and the like) and the fair market value of the such Shares on the date of transfer. Upon such a transfer, the person acquiring the Shares shall promptly notify the Secretary of the Company of such transfer. The right to purchase such Shares shall be provided to the Company for a period of thirty (30) days following receipt by the Company of written notice by the person acquiring the Shares.