Bad Leaver. If the Shareholder’s Employment is terminated and the Shareholder is a Bad Leaver, ATDS, the Company (or its designee) shall have the option, but not the obligation, to repurchase all or any portion of such Shareholder’s Shares at a price per Share equal to the lower of (i) the Purchase Price of such Shares; and (ii) the amount understanding under the Promissory Note at the time such shareholder’s employment is terminated. Such consideration may at the election of the Company be satisfied by a waiver of all or part of the Shareholder’s outstanding obligations under the Promissory Note.
Appears in 4 contracts
Samples: Purchase and Shareholders Agreement (ADC Therapeutics SA), Purchase and Shareholders Agreement (ADC Therapeutics SA), Purchase and Shareholders Agreement (ADC Therapeutics SA)
