Redemption of Restricted Shares Not Earned. (a) Call and Repurchase by Corporation. Shares that remain Restricted Shares on September 29, 2005 (i.e., which have not previously been converted to Earned Shares) (the "Unearned Restricted Shares") shall be called and redeemed by the Corporation at the Adjusted Original Price. The Board of Directors of the Corporation may establish reasonable notice provisions, time frames, procedures and otherwise as it deems reasonable or necessary to facilitate and effect the transaction contemplated by this Section 7(a). Subject to Section 8(b), the Corporation must call and purchase such shares from Employee within sixty (60) days of September 29, 2005.
Appears in 4 contracts
Samples: Employee Stock Purchase Agreement (Us Franchise Systems Inc), Employer Stock Purchase Agreement (Us Franchise Systems Inc), Employee Stock Purchase Agreement (Us Franchise Systems Inc)
