Common use of Transfers Void Clause in Contracts

Transfers Void. Any purported transfer of Shares by Employee that violates any provision of this Agreement shall be wholly void and ineffectual and shall give to the Company or its designee the right to purchase from Employee all but not less than all of the Shares then owned by Employee for a period of 90 days from the date the Company first learns of the purported transfer at the Agreement Price and on the Agreement Terms (as those terms are defined in Sections 3.11 and 3.12, respectively, of this Article 3). If the Shares are not purchased by the Company or its designee, the purported transfer thereof shall remain void and ineffectual and they shall continue to be subject to this Agreement. The Company shall not cause or permit the transfer of any Shares to be made on its books except in accordance with the terms hereof.