Common use of Put Clause in Contracts

Put. If, in the event of (i) Termination of Employment by the Company without Cause, (ii) Termination of Employment due to death or Disability, (iii) Termination of Employment by the Stockholder with Good Reason, (iv) Termination of Employment due to a Company Non-Renewal, or (v) a Sale of the Company (other than a Sale of the Company subject to the Drag Along Right), the Stockholder or his Personal Representative may require the Company to purchase all (but not less than all) of the Shares, Option Shares and other shares of Common Stock and Common Stock Equivalents, that are owned by the Stockholder as of the effective date of such Termination of Employment or Sale of the Company. In such event, the purchase price shall be as set forth in Section 2.1(b) or 2.1(c) above, as the case may be. (a) If, in the event of Termination of Employment by the Stockholder without Good Reason, or in the event of a Stockholder Non-Renewal, and if the Company does not exercise its option to purchase Shares, Option Shares or any other shares of Common Stock or Common Stock Equivalents held by the Stockholder, the Stockholder or his Personal Representative may require the Company to purchase all (but not less than all) of the Shares, Option Shares and other shares of Common Stock and Common Stock Equivalents, that are owned by the Stockholder as of the effective date of such Termination of Employment In such event, the purchase price shall be as set forth in Section 2.1(a) above.