Common use of Company Cash Reimbursement Right Clause in Contracts

Company Cash Reimbursement Right. (i) In the event that all or a portion of any of the shares of Common Stock referred to in the first sentence of Section 5(c) are not then owned by the Executive without restriction (for this purpose, the shares will be considered “restricted” if they are subject to, without limitation, any lien, encumbrance, pledge or other interest of a third party), the Company shall have the right to require the Executive to pay to the Company an amount equal to (x) the total number of shares acquired by the Executive on such option exercise, multiplied by (y) the difference between (A) the greater of the Fair Market Value of the Common Stock on [the date of the Detrimental Activity Notice] or the per-share consideration received by the Executive in any sale or other transfer or all or a portion of such shares, and (B) the per-share price (if any) paid by the Executive for such shares in connection with such exercise or vesting or payment event (the “Cash Reimbursement Right”).

Company Cash Reimbursement Right. (i) In the event that all or a portion of any of the shares of Common Stock referred to in the first sentence of Section 5(c) are not then owned by the Executive without restriction (for this purpose, the shares will be considered “restricted” if they are subject to, without limitation, any lien, encumbrance, pledge or other interest of a third party), the Company shall have the right to require the Executive to pay to the Company an amount equal to (x) the total number of shares acquired by the Executive on such option exercise, multiplied by (y) the difference between (A) the greater of the Fair Market Value of the Common Stock on [the date of the Detrimental Activity Notice] Notice or the per-share consideration received by the Executive in any sale or other transfer or all or a portion of such shares, and (B) the per-share price (if any) paid by the Executive for such shares in connection with such exercise or vesting or payment event (the “Cash Reimbursement Right”).