Right to Put Shares to the Clause Samples

Right to Put Shares to the. Company Upon Termination of Employment. Each Employee Stockholder has the right to cause the Company to purchase all or part of the shares of Stock (but not Stock Rights) of the Company held by such Employee stockholder (the "Put Shares") at the Repurchase Price (as such term is defined in Section 4.4) (the "Put Right") pursuant to the terms set forth in the "Executive Employment Agreement" entered into between each Employee Stockholder and the Company. If a Terminated Stockholder (as hereinafter defined) elects to exercise his/her Put Right, the Terminated Stockholder shall deliver written notice of such intention to the Company (the "Put Notice") on or prior to the date that is nine months following the date on which the Terminated Stockholder's employment with the Company was terminated (such nine-month period shall be the "Put Period"). Upon delivery of the Put Notice, the Terminated Stockholder shall immediately transfer and deliver to the Company the number of Put Shares specified in the Put Notice, and the Company shall, so long as and to the extent permitted by the financing agreements of the Company, pay the Repurchase Price for such Put Shares in cash in immediately available funds within ten (10) business days of delivery of the Put Notice. The purchase of the Put Shares shall be deemed to have occurred