Common use of Average Vesting Price” After Cessation of Public Trading Clause in Contracts

Average Vesting Price” After Cessation of Public Trading. If less than all of the Shares underlying the Grant have vested at or prior to the time, if any, that the Common Stock is no longer traded on a national securities exchange or quoted on an interdealer quotation system, then, following the end of each calendar quarter, the Committee shall determine the deemed value of the shares that shall be deemed the applicable “Average Vesting Price.” If any Shares underlying the Xxxxx xxxx pursuant to this Paragraph 2(c) after the time, if any, that the Common Stock is no longer traded on a national securities exchange or quoted on an interdealer quotation system, then the Grantee shall have the right to sell to the Company, and, upon written notice thereof from the Grantee, the Company shall purchase from the Grantee, such vested Shares for the price per Share of the Average Vesting Price determined by the Committee with respect to the calendar quarter immediately preceding the date on which such Shares have vested. Such purchase by the Company shall be consummated within 45 days after receipt of the written notice from the Grantee.

Appears in 4 contracts

Samples: Employment Agreement (Benihana Inc), Employment Agreement (Benihana Inc), Employment Agreement (Benihana Inc)

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Average Vesting Price” After Cessation of Public Trading. If less than all of the Shares underlying the Grant have vested at or prior to the time, if any, that the Common Stock is no longer traded on a national securities exchange or quoted on an interdealer quotation system, then, following the end of each calendar quarter, the Committee shall determine the deemed value of the shares that shall be deemed the applicable “Average Vesting Price.” If any Shares underlying the Xxxxx xxxx pursuant to this Paragraph 2(c2(d) after the time, if any, that the Common Stock is no longer traded on a national securities exchange or quoted on an interdealer quotation system, then the Grantee shall have the right to sell to the Company, and, upon written notice thereof from the Grantee, the Company shall purchase from the Grantee, such vested Shares for the price per Share of the Average Vesting Price determined by the Committee with respect to the calendar quarter immediately preceding the date on which such Shares have vested. Such purchase by the Company shall be consummated within 45 days after receipt of the written notice from the Grantee.

Appears in 2 contracts

Samples: Employment Agreement (Benihana Inc), Employment Agreement (Benihana Inc)

Average Vesting Price” After Cessation of Public Trading. If less than all of the Shares underlying the Grant have vested at or prior to the time, if any, that the Common Stock is no longer traded on a national securities exchange or quoted on an interdealer quotation system, then, following the end of each calendar quarter, the Committee shall determine the deemed value of the shares that shall be deemed the applicable "Average Vesting Price." If any Shares underlying the Xxxxx xxxx pursuant to this Paragraph 2(c2(d) after the time, if any, that the Common Stock is no longer traded on a national securities exchange or quoted on an interdealer quotation system, then the Grantee shall have the right to sell to the Company, and, upon written notice thereof from the Grantee, the Company shall purchase from the Grantee, such vested Shares for the price per Share of the Average Vesting Price determined by the Committee with respect to the calendar quarter immediately preceding the date on which such Shares have vested. Such purchase by the Company shall be consummated within 45 days after receipt of the written notice from the Grantee.

Appears in 1 contract

Samples: Restricted Stock Agreement (Benihana Inc)

Average Vesting Price” After Cessation of Public Trading. If less than all of the Shares underlying the Grant have vested at or prior to the time, if any, that the Common Stock is no longer traded on a national securities exchange or quoted on an interdealer quotation system, then, following the end of each calendar quarter, the Committee shall determine the deemed value of the shares that shall be deemed the applicable “Average Vesting Price.” If any Shares underlying the Xxxxx Gxxxx xxxx pursuant to this Paragraph 2(c) 2 after the time, if any, that the Common Stock is no longer traded on a national securities exchange or quoted on an interdealer quotation system, then the Grantee shall have the right to sell to the Company, and, upon written notice thereof from the Grantee, the Company shall purchase from the Grantee, such so vested Shares for the price per Share of the Average Vesting Price determined by the Committee with respect to the calendar quarter immediately preceding the date on which such Shares have so vested. Such purchase by the Company shall be consummated within 45 days after receipt of the written notice from the Grantee.

Appears in 1 contract

Samples: Employment Agreement (Benihana Inc)

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Average Vesting Price” After Cessation of Public Trading. If less than all of the Shares underlying the Grant have vested at or prior to the time, if any, that the Common Stock is no longer traded on a national securities exchange or quoted on an interdealer quotation system, then, following the end of each calendar quarter, the Committee shall determine the deemed value of the shares that shall be deemed the applicable “Average Vesting Price.” If any Shares underlying the Xxxxx xxxx pursuant to this Paragraph 2(c) 2 after the time, if any, that the Common Stock is no longer traded on a national securities exchange or quoted on an interdealer quotation system, then the Grantee shall have the right to sell to the Company, and, upon written notice thereof from the Grantee, the Company shall purchase from the Grantee, such so vested Shares for the price per Share of the Average Vesting Price determined by the Committee with respect to the calendar quarter immediately preceding the date on which such Shares have so vested. Such purchase by the Company shall be consummated within 45 days after receipt of the written notice from the Grantee.

Appears in 1 contract

Samples: Employment Agreement (Benihana Inc)

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