Common use of General Restriction on Transfer by Management Stockholders Clause in Contracts

General Restriction on Transfer by Management Stockholders. No shares of Common Stock owned by any Management Stockholder or any interest therein may, directly or indirectly, be sold, assigned, transferred or otherwise disposed of or transferred by such Management Stockholder (collectively, "Transferred" and any such transaction, a "Transfer"), except for (i) Transfers ----------- -------- to a transferee pursuant to Section 1.2 hereof (a "Permitted Transferee"), (ii) -------------------- Transfers of shares of Common Stock to the Company, Xxxxx, Endo LLC or Management Stockholders, including pursuant to Article II or III hereof, or (iii) Transfers of shares of Common Stock pursuant to, or as otherwise permitted under, Article VI hereof; provided that in the event the employment of a -------- ---- Management Stockholder with the Company or any of its Subsidiaries is terminated for any reason, such Management Stockholder may pledge, hypothecate, mortgage or encumber his or her shares of Common Stock; provided further that the terms of -------- ------- ---- any such pledge, hypothecation, mortgage or encumbrance shall be approved by Endo LLC in its discretion taking into account the financial situation of Endo LLC at the time.

General Restriction on Transfer by Management Stockholders. No shares of Common Stock owned by any Management Stockholder or any interest therein may, directly or indirectly, be sold, assigned, transferred or otherwise disposed of or transferred by such Management Stockholder (collectively, "Transferred" and any such transaction, a "Transfer"), except for (i) Transfers ----------- -------- to a transferee pursuant to Section 1.2 hereof (a "Permitted Transferee"), (ii) -------------------- Transfers of shares of Common Stock to the Company, Xxxxx, Endo LLC or Management Stockholders, including pursuant to Article II or III hereof, or (iii) Transfers of shares of Common Stock pursuant to, or as otherwise permitted under, Article VI hereof; provided that in the event the employment of a -------- ---- Management Stockholder with the Company or any of its Subsidiaries is terminated for any reason, such Management Stockholder may pledge, hypothecate, mortgage or encumber his or her shares of Common Stock; provided further that the terms of -------- ------- ---- any such pledge, hypothecation, mortgage or encumbrance shall be approved by Endo LLC in its discretion taking into account the financial situation of Endo LLC at the time.

General Restriction on Transfer by Management Stockholders. No ----------------------------------------------------------- shares of Common Stock owned by any Management Stockholder or any interest therein may, directly or indirectly, be sold, assigned, transferred or otherwise disposed of or transferred by such Management Stockholder (collectively, "Transferred" and any such transaction, a "Transfer"), except for (i) Transfers ----------- ------------ -------- to a transferee pursuant to Section 1.2 hereof (a "Permitted Transferee"), (ii) -------------------- Transfers of shares of Common Stock to the Company, Xxxxx, Endo LLC or Management Stockholders, including pursuant to Article II or III hereof, or (iii) Transfers of shares of Common Stock pursuant to, or as otherwise permitted under, Article VI hereof; provided that in the event the employment of a -------- ---- Management Stockholder Stock holder with the Company or any of its Subsidiaries is terminated for any reason, such Management Stockholder may pledge, hypothecate, mortgage or encumber his or her shares of Common Stock; provided further that -------- ------- ---- the terms of -------- ------- ---- any such pledge, hypothecation, mortgage or encumbrance shall be approved by Endo LLC in its discretion taking into account the financial situation of Endo LLC at the time.