Common use of Grant of Right of First Refusal Clause in Contracts

Grant of Right of First Refusal. Subject to the provisions of this Section 4 and Section 5, the CEO may transfer any Vested Shares after holding such shares for a minimum period of six months following the relevant Vesting Date for the vesting of such Vested Shares, provided that a transfer to a Permitted Transferee (as defined below) shall be permitted at any time. Except as provided in Section 4.8 and subject to Section 5, in the event the CEO, the CEO’s legal representative or other holder of the Remaining Shares proposes to sell, exchange, transfer, pledge, or otherwise dispose of (including by gift or operation of law) any Vested Shares (the “Transfer Shares”) to any person or entity other than a Permitted Transferee, the Company shall have the right to repurchase the Transfer Shares under the terms and subject to the conditions set forth in this Section 4 (the “Right of First Refusal”).

Grant of Right of First Refusal. Subject to the provisions of this Section 4 and Section 5, the CEO may transfer any Vested Shares after holding such shares for a minimum period of six months following the relevant Vesting Date for the vesting of such Vested Shares, provided that a transfer to a Permitted Transferee (as defined below) shall be permitted at any time. Except as provided in Section 4.8 and subject to Section 5, in the event the CEO, the CEO’s legal representative or other holder of the Remaining Shares proposes to sell, exchange, transfer, pledge, or otherwise dispose of (including by gift or operation of law) any Vested Shares (the “Transfer Shares”) to any person or entity other than a Permitted Transferee, the Company shall have the right to repurchase the Transfer Shares under the terms and subject to the conditions set forth in this Section 4 (the “Right of First Refusal”).