Right to Compel Sale. 14.1 If at any time Xxxxxxx proposes to sell all, or a majority of his, its or their shares of Common Stock to a Third Party Purchaser, Xxxxxxx shall have the right (the "Compelled Sale Right"), exercisable as set forth below, to compel the Participant to sell to the Third Party Purchaser (a "Compelled Sale") all, but not less than all, of the shares of such Common Stock (to the extent acquired upon exercise of the Option), if any, then held by the Participant. In connection with any Compelled Sale, the Participant will receive a price equal to the average consideration per share received by Xxxxxxx for all shares of Common Stock sold by Xxxxxxx in the Compelled Sale.
Appears in 5 contracts
Samples: Nonqualified Stock Option Agreement (Venoco, Inc.), Nonqualified Stock Option Agreement (Venoco, Inc.), Nonqualified Stock Option Agreement (Venoco, Inc.)
Right to Compel Sale. 14.1 If at any time Xxxxxxx proposes to sell all, or a majority of his, its or their shares of Common Stock to a Third Party Purchaser, Xxxxxxx shall have the right (the "“Compelled Sale Right"”), exercisable as set forth below, to compel the Participant to sell to the Third Party Purchaser (a "“Compelled Sale"”) all, but not less than all, of the shares of such Common Stock (to the extent acquired upon exercise of the Option), if any, then held by the Participant. In connection with any Compelled Sale, the Participant will receive a price equal to the average consideration per share received by Xxxxxxx for all shares of Common Stock sold by Xxxxxxx in the Compelled Sale.
Appears in 2 contracts
Samples: Nonqualified Stock Option Agreement (Venoco, Inc.), Nonqualified Stock Option Agreement (Venoco, Inc.)
Right to Compel Sale. 14.1 If at any time the Xxxxxxx Family proposes to sell all, or a majority of his, its or their shares of Common Stock to a Third Party Purchaser, the Xxxxxxx Family shall have the right (the "“Compelled Sale Right"”), exercisable as set forth below, to compel the Participant to sell to the Third Party Purchaser (a "“Compelled Sale"”) all, but not less than all, of the shares of such Common Stock (to the extent acquired upon exercise of the Option), if any, then held by the Participant. In connection with any Compelled Sale, the Participant will receive a price equal to the average consideration per share received by the Xxxxxxx Family for all shares of Common Stock sold by the Xxxxxxx Family in the Compelled Sale.
Appears in 1 contract
Samples: Option Agreement (Venoco, Inc.)
