Common use of COMPANY'S REPURCHASE OPTION Clause in Contracts

COMPANY'S REPURCHASE OPTION. In the event the Purchaser ceases to --------------------------- be an employee for any or no reason (including death or disability) before all of the Shares are released from the Company's Repurchase Option (see Section 4), the Company shall, upon the date of such termination (as reasonably fixed and determined by the Company) have the right, but not the obligation (except as provided in Section 3(b) below) (the "Repurchase Option"), for a period of sixty (60) days from such date, to repurchase up to that number of shares which constitute the Unreleased Shares (as defined in Section 4) at the original purchase price per share, plus any interest paid to the Company by the Purchaser with respect to the Shares (the "Repurchase Price"). The Repurchase Option shall be exercised by the Company by delivering written notice to the Purchaser or the Purchaser's executor (with a copy to the Escrow Holder) AND, at the Company's option, (i) by delivering to the Purchaser or the Purchaser's executor a check in the amount of the aggregate Repurchase Price, or (ii) by canceling an amount of the Purchaser's indebtedness to the Company equal to the aggregate Repurchase Price, or (iii) by a combination of (i) and (ii) so that the combined payment and cancellation of indebtedness equals the aggregate Repurchase Price. Upon delivery of such notice and the payment of the aggregate Repurchase Price, the Company shall become the legal and beneficial owner of the Shares being repurchased and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Shares being repurchased by the Company.

COMPANY'S REPURCHASE OPTION. In the event the Purchaser ceases to --------------------------- be an employee for any or no reason (including death or disability) before all of the Shares are released from the Company's Repurchase Option (see Section 4), the Company shall, upon the date of such termination (as reasonably fixed and determined by the Company) have the right, but not the obligation (except as provided in Section 3(b) below) (the "Repurchase Option"), for a period of sixty (60) days from such date, to repurchase up to that number of shares which constitute the Unreleased Shares (as defined in Section 4) at the original purchase price per share, plus any interest paid to the Company by the Purchaser with respect to the Shares (the "Repurchase Price"). The Repurchase Option shall be exercised by the Company by delivering written notice to the Purchaser or the Purchaser's executor (with a copy to the Escrow Holder) AND, at the Company's option, (i) by delivering to the Purchaser or the Purchaser's executor a check in the amount of the aggregate Repurchase Price, or (ii) by canceling an amount of the Purchaser's indebtedness to the Company equal to the aggregate Repurchase Price, or (iii) by a combination of (i) and (ii) so that the combined payment and cancellation of indebtedness equals the aggregate -aggregate Repurchase Price. Upon delivery of such notice and the payment of the aggregate Repurchase Price, the Company shall become the legal and beneficial owner of the Shares being repurchased and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Shares being repurchased by the Company.

COMPANY'S REPURCHASE OPTION. In Notwithstanding any provision herein to the event contrary, if the Purchaser ceases Common Stock is traded on a national securities exchange or admitted to --------------------------- be unlisted trading privileges on such an employee for any exchange, or no reason (including death or disability) before all is listed on the National Market System, and the reported closing price per share of the Shares are released from Common Stock exceeds three hundred percent (300%) of the Company's Repurchase Option Exercise Price for thirty (see Section 430) consecutive trading days (the “Reference Period”), the Company shallmay, upon at its option, purchase this Warrant from the date of such termination Holder at a price equal to the product of: (as reasonably fixed and determined by A) the Company) have the right, but not the obligation (except as provided in Section 3(b) below) (the "Repurchase Option"), for a period of sixty (60) days from such date, to repurchase up to that number of shares for which constitute this Warrant is exercisable multiplied by (B) the Unreleased Shares (as defined in Section 4) at the original purchase price per share, plus any interest paid to the Company by the Purchaser with respect to the Shares (the "Repurchase Price"). The Repurchase Option shall be exercised by the Company by delivering written notice to the Purchaser or the Purchaser's executor (with a copy to the Escrow Holder) AND, at the Company's option, (i) by delivering to the Purchaser or the Purchaser's executor a check in the amount of the aggregate Repurchase Price, or (ii) by canceling an amount of the Purchaser's indebtedness to the Company equal to the aggregate Repurchase Price, or (iii) by a combination difference of (i) the highest reported closing price per share of the Common Stock during the period beginning with the first day of the Reference Period and ending the day before the Repurchase Date (as defined below) less (ii) so that the combined payment and cancellation of indebtedness equals the aggregate Repurchase Exercise Price. Upon delivery of such notice and If the payment of the aggregate Repurchase PriceCompany elects to purchase this Warrant, the Company will notify the Holder in writing. The Company and the Holder shall become effect the legal and beneficial owner purchase with respect to any portion of this Warrant that has not been exercised by the holder on the twentieth (20th) day following the date of the Shares being repurchased Company’s written notice regarding the purchase or such earlier date as the Company and all rights and interests therein or relating theretothe Holder may agree (the “Repurchase Date”). On the Repurchase Date the Company shall pay the Holder the purchase price determined in accordance with the provisions hereof, and the Company Warrant shall have the right to retain thereafter be void and transfer to its own name the number of Shares being repurchased by the Companymay not be exercised.