Common use of Company’s Right to Repurchase Shares Clause in Contracts

Company’s Right to Repurchase Shares. In the event that Executive’s employment is terminated, whether by the Company, for Cause, or by Executive’s voluntary departure, the Company shall have the right to repurchase all vested Common Stock owned by Executive at fair market value, as defined below. Notwithstanding the above, in the event that Executive is terminated without Cause, the Executive shall be entitled to retain his vested stock. The Company shall have the right to repurchase his unvested stock at fair market value, as defined below. Fair market value, for the purposes of this Section 6, shall be determined by a qualified business valuation or appraisal expert chosen jointly by the Executive and the Company’s Board of Directors.

Company’s Right to Repurchase Shares. In the event that Executiveemployee’s employment is terminated, whether terminated by the Company, Company for Cause, Cause or by Executiveemployee’s voluntary departure, the Company shall have the right to repurchase all vested Common Stock owned by Executive employee at fair market value, as defined below. Notwithstanding the above, in In the event that Executive employee’s employment is terminated by the Company without Cause, the Executive employee shall be entitled to retain his vested stockthe stock he owns. The Company shall have the right to repurchase his any unvested portion of the stock subject to the Option at fair market value, as defined below. “Fair market value, ,” for the purposes of this Section 6, shall be determined by a qualified business valuation or appraisal expert chosen jointly by the Executive employee and the Company’s Board of Directors.

Company’s Right to Repurchase Shares. In the event that Executive’s employment is terminated, whether terminated by the Company, Company for Cause, Cause or by Executive’s voluntary departure, the Company shall have the right to repurchase all vested Common Stock owned by Executive at fair market value, as defined below. Notwithstanding the above, in In the event that Executive Executive’s employment is terminated by the Company without Cause, the Executive shall be entitled to retain his vested stockthe stock he owns. The Company shall have the right to repurchase his any unvested portion of the stock subject to the Option at fair market value, as defined below. “Fair market value, ,” for the purposes of this Section 6, shall be determined by a qualified business valuation or appraisal expert chosen jointly by the Executive and the Company’s Board of Directors.