Common use of Call and Put Options Clause in Contracts

Call and Put Options. The shares of Common Stock issued upon exercise of all or any portion of an Option shall be subject to a call right by the Company, the other "Management Stockholders" and the "Investors" (as such terms are defined in Plan Section 2.8) and shall be subject to a put right by the Optionee (and his estate, legal representative and "Permitted Transferees" (as such term is defined in Plan Section 3.3)) following the Optionee's termination of employment, all in accordance with the provisions of Plan Section 2.8. Notwithstanding the preceding sentence and the provisions of Plan Section 2.8, no Option shall be subject to any call right or put right if, and to the extent, that any such right would cause the Company, a Management Stockholder, an Investor, or the Optionee (or his estate, legal representative or Permitted Transferee) to incur any liability under Rule 16b-3 of the Act.

Call and Put Options. The shares of Common Stock issued upon exercise of all or any portion of an Option shall be subject to a call right by the Company, the other "Management Stockholders" and the "Investors" (as such terms are defined in Plan Section 2.8) and shall be subject to a put right by the Optionee (and his estate, legal representative and "Permitted Transferees" (as such term is defined in Plan Section 3.3)) following the Optionee's =s termination of employment, all in accordance with the provisions of Plan Section 2.8. Notwithstanding the preceding sentence and the provisions of Plan Section 2.8, no Option shall be subject to any call right or put right if, and to the extent, that any such right would cause the Company, a Management Stockholder, an Investor, or the Optionee (or his estate, legal representative or Permitted Transferee) to incur any liability under Rule 16b-3 of the Act.