Document ID: 15203

Text:
(d) Company Investment; Stock Ownership Requirements. Subject to applicable law, on or before the first anniversary of the Effective Date, Employee agrees to make a total equity investment in the Company in an aggregate amount between $150,000 and $200,000 (the Equity Investment) pursuant to one or more purchases of shares of the Companys common stock on the open market, directly from the Company or under a written plan (a 10b5-1 Plan) entered into with a broker for trading the Companys common stock in a manner that complies with Rule 10b5-1 of the Securities Exchange Act of 1934 , as amended (the Exchange Act ). If Employee makes an open market purchase of shares of the Companys common stock with respect to the Equity Investment, Employee shall use reasonable efforts to comply with the limitations and restrictions set forth in Rule 10b-18(b) promulgated under the Exchange Act in making such purchase. Employee shall be prohibited from selling or otherwise transferring shares of the Companys common stock (including, but not limited to, shares acquired in order to satisfy the equity investment requirement described in the preceding sentence) until Employee owns shares of the Companys common stock with an aggregate value equal to three (3) times Employees Base Salary (as defined below) and once Employee owns shares of the Companys common stock with an aggregate value equal to three (3) times Employees Base Salary, Employee shall also be prohibited from entering into any sale or transfer of the Companys common stock to the extent such sale or transfer would result in Employee ceasing to own shares of the Companys common stock with an aggregate value at least equal to three (3) times Employees Base Salary; provided, however, that the foregoing sale and transfer restrictions shall not apply to any sales of shares intended to satisfy applicable tax withholding obligations due in connection with the exercise, vesting or settlement of equity awards under the Companys Equity Incentive Plan (as defined below) and shall no longer apply upon the earlier to occur of (x) the end of the Employment Period (as defined below) and (y) a Change in Control (as defined in Section 6(i) below). In addition, Employee shall be subject to the provisions of any applicable stock ownership guidelines, policies or procedures adopted by the Company. Notwithstanding any provision of this Agreement to the contrary, the Company reserves the right, without Employees consent, to adopt any such stock ownership guidelines, procedures and policies with retroactive effect. For the avoidance of doubt, shares of the Companys common stock (i) held by Employees immediate family, (ii) held in trusts, family limited partnerships or similar vehicles for the benefit of Employee or Employees immediate family and (iii) underlying vested restricted stock units or vested but unexercised in the money stock options, in each case, shall be treated as owned by Employee for purposes of satisfying the requirements set forth in this Section 2(d).

Named Entities:
42
45
Principal
47
50
Principal
105
106
Regulation
109
113
Act
159
163
Regulation
228
232
Ratio

Tokenized Text:
(
d
)
Company
Investment
;
Stock
Ownership
Requirements
.
Subject
to
applicable
law
,
on
or
before
the
first
anniversary
of
the
Effective
Date
,
Employee
agrees
to
make
a
total
equity
investment
in
the
Company
in
an
aggregate
amount
between
$
150
,
000
and
$
200
,
000
(
the
Equity
Investment
)
pursuant
to
one
or
more
purchases
of
shares
of
the
Companys
common
stock
on
the
open
market
,
directly
from
the
Company
or
under
a
written
plan
(
a
10b5-1
Plan
)
entered
into
with
a
broker
for
trading
the
Companys
common
stock
in
a
manner
that
complies
with
Rule
10b5-1
of
the
Securities
Exchange
Act
of
1934
,
as
amended
(
the
Exchange
Act
)
.
If
Employee
makes
an
open
market
purchase
of
shares
of
the
Companys
common
stock
with
respect
to
the
Equity
Investment
,
Employee
shall
use
reasonable
efforts
to
comply
with
the
limitations
and
restrictions
set
forth
in
Rule
10b-18
(
b
)
promulgated
under
the
Exchange
Act
in
making
such
purchase
.
Employee
shall
be
prohibited
from
selling
or
otherwise
transferring
shares
of
the
Companys
common
stock
(
including
,
but
not
limited
to
,
shares
acquired
in
order
to
satisfy
the
equity
investment
requirement
described
in
the
preceding
sentence
)
until
Employee
owns
shares
of
the
Companys
common
stock
with
an
aggregate
value
equal
to
three
(
3
)
times
Employees
Base
Salary
(
as
defined
below
)
and
once
Employee
owns
shares
of
the
Companys
common
stock
with
an
aggregate
value
equal
to
three
(
3
)
times
Employees
Base
Salary
,
Employee
shall
also
be
prohibited
from
entering
into
any
sale
or
transfer
of
the
Companys
common
stock
to
the
extent
such
sale
or
transfer
would
result
in
Employee
ceasing
to
own
shares
of
the
Companys
common
stock
with
an
aggregate
value
at
least
equal
to
three
(
3
)
times
Employees
Base
Salary
;
provided
,
however
,
that
the
foregoing
sale
and
transfer
restrictions
shall
not
apply
to
any
sales
of
shares
intended
to
satisfy
applicable
tax
withholding
obligations
due
in
connection
with
the
exercise
,
vesting
or
settlement
of
equity
awards
under
the
Companys
Equity
Incentive
Plan
(
as
defined
below
)
and
shall
no
longer
apply
upon
the
earlier
to
occur
of
(
x
)
the
end
of
the
Employment
Period
(
as
defined
below
)
and
(
y
)
a
Change
in
Control
(
as
defined
in
Section
6
(
i
)
below
)
.
In
addition
,
Employee
shall
be
subject
to
the
provisions
of
any
applicable
stock
ownership
guidelines
,
policies
or
procedures
adopted
by
the
Company
.
Notwithstanding
any
provision
of
this
Agreement
to
the
contrary
,
the
Company
reserves
the
right
,
without
Employees
consent
,
to
adopt
any
such
stock
ownership
guidelines
,
procedures
and
policies
with
retroactive
effect
.
For
the
avoidance
of
doubt
,
shares
of
the
Companys
common
stock
(
i
)
held
by
Employees
immediate
family
,
(
ii
)
held
in
trusts
,
family
limited
partnerships
or
similar
vehicles
for
the
benefit
of
Employee
or
Employees
immediate
family
and
(
iii
)
underlying
vested
restricted
stock
units
or
vested
but
unexercised
in
the
money
stock
options
,
in
each
case
,
shall
be
treated
as
owned
by
Employee
for
purposes
of
satisfying
the
requirements
set
forth
in
this
Section
2
(
d
)
.