Common use of Exercise of Put Option Clause in Contracts

Exercise of Put Option. Executive (or a legal representative of Executive or Executive’s estate in the event of Disability or death) may elect to cause the LLC (or one or more of its assignees at the election of the LLC) to purchase all or any portion of the Unvested Securities by delivering written notice (the “Put Notice”) to the LLC within sixty (60) days after termination of Executive’s employment with the Company Parties. The Put Notice shall set forth the number, type and class of Unvested Securities to be acquired from each holder of Unvested Securities and the time and place for the closing of the transaction, which date shall not be more than thirty (30) days nor less than five (5) days after the delivery of such Put Notice; provided that the LLC or any other purchaser may elect to require that such Transfer be consummated effective as of the first day of the next succeeding month.

Exercise of Put Option. Executive (or a legal representative of Executive or Executive’s estate in the event of Disability or death) may elect to cause the Investors LLC (or one or more of its assignees at the election of the Investors LLC) to purchase all or any portion of the Unvested Securities by delivering written notice (the “Put Notice”) to the Investors LLC within sixty (60) days after termination of Executive’s employment with the Company Parties. The Put Notice shall set forth the number, type and class of Unvested Securities to be acquired from each holder of Unvested Securities and the time and place for the closing of the transaction, which date shall not be more than thirty (30) days nor less than five (5) days after the delivery of such Put Notice; provided that the Investors LLC or any other purchaser may elect to require that such Transfer be consummated effective as of the first day of the next succeeding month.