Common use of Right to Purchase Common Stock Clause in Contracts

Right to Purchase Common Stock. The Employee shall have the right to purchase common stock of the Employer under the following formula; Each year within the first sixty (60) days of the anniversary date, starting in 1997, Employee may purchase up to an amount of stock equal to 5% of the then issued and outstanding common shares at a price equal to 75% of the book.

Right to Purchase Common Stock. The Employee shall have the right to purchase common stock of the Employer under the following formula; . Each year within the first sixty (60) days of the anniversary date, starting in 19972000, Employee may purchase up to an amount of stock equal to 5% of the then issued and outstanding common shares at a price equal to 75% of the bookbook value.