; or (ii) employee capital contributions or membership fees paid by members of an eligible worker-owned cooperative, if such amounts are reasonable and customary and not used for the purchase of the covered small business concern. (2) Control An employee equity investment company or non-EEIC company shall not exercise control over a covered small business concern in which the employee equity investment company or non-EEIC company, respectively, has made a covered investment. (h) Employee allocations With respect to a covered investment described in section 103(21)(A) made by an employee equity investment company that involves an employee stock ownership plan, the employee stock ownership plan shall include a requirement that in the event of a sale to a third party of the covered small business concern in which the covered investment is made, the proceeds that the employee stock ownership plan receives from the sale shall be distributed as though all shares of stock held by the employee stock ownership plan prior to the sale were fully allocated. (i) Recirculation of shares (1) Share count With respect to a covered investment described in section 103(21)(A) made by an employee equity investment company that involves an employee stock ownership plan, the number of shares held by the employee stock ownership plan on the final date of each plan year shall not be less than the number of shares held by the employee stock ownership plan on the execution date of the covered investment. (2) Limitation The requirements under paragraph (1) shall apply only with respect to the period during which the employee equity investment company has an interest in the covered small business concern. (3) Exception The requirement under paragraph (1) may be waived by the independent trustee for the applicable employee stock ownership plan. (j) Independent trustees With respect to a covered investment described in section 103(21)(A) made by an employee equity investment company that involves an employee stock ownership plan, the employee