Common use of Put Clause in Contracts

Put. In the event that Participant ceases to be employed by the Company or any of its Subsidiaries for any reason, other than as a result of Participant’s termination for Cause or Participant’s resignation without Good Reason, the Participant (or his heirs or estates) may require the Company to purchase (the “Put”) any Executive Stock or Warrants purchased by Executive under this Agreement and not repurchased by the Seller or the Company pursuant to paragraph 2 above. The purchase price for each Warrant or for each share of Executive Stock purchase by the Company pursuant to the Put shall be at a price per share equal to Fair Market Value thereof (as of the date the Put is exercised), unless (as a result of a delay in the determination of Fair Market Value or otherwise) the closing of such purchase occurs more than 180 days after the Put is exercised, in which case, the Put shall be at a price per share equal to the Fair Market Value as determined within 45 days prior to such closing.

Put. In the event that Participant ceases to be employed by the Company or any of its Subsidiaries for any reason, other than as a result of Participant’s termination for Cause or Participant’s resignation without Good Reason, the Participant (or his heirs or estates) may require the Company to purchase (the “Put”) any Executive Stock or Warrants purchased by Executive under this Agreement and not repurchased by the Seller Sellers or the Company pursuant to paragraph 2 above. The purchase price for each Warrant or for each share of Executive Stock purchase by the Company pursuant to the Put shall be at a price per share equal to Fair Market Value thereof (as of the date the Put is exercised), unless (as a result of a delay in the determination of Fair Market Value or otherwise) the closing of such purchase occurs more than 180 days after the Put is exercised, in which case, the Put shall be at a price per share equal to the Fair Market Value as determined within 45 days prior to such closing.

Put. In the event that Participant Executive ceases to be employed by the Company or any of its Subsidiaries for any reason, other than as a result of ParticipantExecutive’s termination for Cause or ParticipantExecutive’s resignation without Good Reason, the Participant Executive (or his heirs or estates) may require the Company to purchase (the “Put”) any Executive Stock or Warrants purchased by Executive under this Agreement and not repurchased by the Seller Investors or the Company pursuant to paragraph 2 above. The purchase price for each Warrant or for each share of Executive Stock purchase by the Company pursuant to the Put shall be at a price per share equal to Fair Market Value thereof (as of the date the Put is exercised), unless (as a result of a delay in the determination of Fair Market Value or otherwise) the closing of such purchase occurs more than 180 days after the Put is exercised, in which case, the Put shall be at a price per share equal to the Fair Market Value as determined within 45 days prior to such closing.