Common use of Repayment and Forfeiture Clause in Contracts

Repayment and Forfeiture. The Participant specifically recognizes and affirms that each of the covenants contained in Sections B.1 through B.4 of this Agreement is a material and important term of this Agreement which has induced the Company to provide for the award of the Options granted hereunder, the disclosure of Confidential Information referenced herein, and the other promises made by the Company herein. The Participant further agrees that in the event that (i) the Company determines that the Participant has breached any term of Sections B.1 through B.4 or (ii) all or any part of Section B is held or found invalid or unenforceable for any reason whatsoever by a court of competent jurisdiction in an action between the Participant and the Company, in addition to any other remedies at law or in equity the Company may have available to it, the Company may in its sole discretion: (a) Cancel any unexercised Options granted hereunder; and/or (b) Require the Participant to pay to the Company all gains realized from the exercise of any Options granted hereunder.

Repayment and Forfeiture. The Participant specifically recognizes and affirms that each of the covenants contained in Sections Paragraphs B.1 through B.4 of this Agreement is a material and important term of this Agreement which has induced the Company to provide for the award of the Options granted hereunder, the disclosure of Confidential Information referenced herein, and the other promises made by the Company herein. The Participant further agrees that in the event that (i) the Company determines that the Participant has breached any term of Sections Paragraphs B.1 through B.4 or (ii) all or any part of Section Paragraph B is held or found invalid or unenforceable for any reason whatsoever by a court of competent jurisdiction in an action between the Participant and the Company, in addition to any other remedies at law or in equity the Company may have available to it, the Company may in its sole discretion: (a) Cancel any unexercised Options granted hereunder; and/orand (b) Require the Participant to pay to the Company all gains realized from the exercise of any Options granted hereunder.