Representations and Warranties of the Founders. Except as set forth in the Disclosure Schedule, each of the Founders, severally and not jointly, represents and warrants to each Purchaser as of the date of the Closing as follows (it being understood and agreed that any Founder's liability for breaches of any provisions of this Section 3 shall be limited to the then current fair market value of the shares of Common Stock of the Company currently owned by such Founder and such Founder may in his sole discretion, discharge such liability by the surrender of such shares or the payment of cash and will terminate two years after the date of this Agreement:
Appears in 2 contracts
Sources: Series a Preferred Stock Purchase Agreement (IntelliHome, Inc.), Series a Preferred Stock Purchase Agreement (IntelliHome, Inc.)