Common use of Right of First Refusal on Disposition of The Shares Clause in Contracts

Right of First Refusal on Disposition of The Shares. 3.3.1. If at any time the Employee desires to sell for cash any of the Shares pursuant to a bona fide offer from a third party (the "Proposed Transferee"), the Employee shall submit a written offer (the "Offer") to sell such Shares (the "Offered Shares") to the Company on terms and conditions, including price, not less favorable to the Company than those on which the Employee proposes to sell such Offered Shares to the Proposed Transferee. The Offer shall disclose the identity of the Proposed Transferee, the number of Offered Shares proposed to be sold and the price thereof, the total number of Shares owned by the Employee, and the terms and conditions of, and any other material facts relating to, the proposed sale.

Right of First Refusal on Disposition of The Shares. 3.3.1. If at any time the Employee desires to sell for cash any of the Shares pursuant to a bona fide offer from a third party (the "“Proposed Transferee"”), the Employee shall submit a written offer (the "“Offer"”) to sell such Shares (the "“Offered Shares"”) to the Company on terms and conditions, including price, not less favorable to the Company than those on which the Employee proposes to sell such Offered Shares to the Proposed Transferee. The Offer shall disclose the identity of the Proposed Transferee, the number of Offered Shares proposed to be sold and the price thereof, the total number of Shares owned by the Employee, and the terms and conditions of, and any other material facts relating to, the proposed sale.