Common use of Purchase of Employee's Stock Upon Resignation or Termination with Cause Clause in Contracts

Purchase of Employee's Stock Upon Resignation or Termination with Cause. Upon Employee's resignation of his employment with the Company for any reason, including Good Reason, or upon termination by the Company of the Employee's employment for Cause, Systems may require the Employee to sell all but not less than all of the Stock owned by the Employee in accordance with the provisions of this Section 14 of this Agreement. Systems may exercise such option by notice to the Employee given within six (6) months after the termination or resignation. Upon the giving of such notice, Systems shall be obligated to purchase and the Employee shall be obligated to sell the Stock at the greater of its Book Value or the actual purchase price paid by the Employee for such Stock.