Company’s Repurchase Option. The Company or its assignees shall have --------------------------- the option to repurchase all or a portion of the Unvested Shares (as defined below) on the terms and conditions set forth in this Section (the "Repurchase Option") if Purchaser ceases to be employed by the Company (as defined herein) for any reason, or no reason, including without limitation Purchaser's death, disability, voluntary resignation or termination by the Company with or without cause.
Company’s Repurchase Option. (a) Upon the termination of the Shareholder’s employment or service with the Company for any reason, the Company shall have the right and option to purchase, and the Shareholder or the Shareholder’s personal representative, estate, heirs, legatees, or Permitted Transferees, as the case may be, shall have the obligation to sell, all of the Shareholder’s Shares, which option may be exercised by the Company within one hundred and eighty (180) days following the later of (i) such termination of employment or service, or (ii) the date the Shares are acquired, by giving written notice to the Shareholder or personal representative, estate, heirs, legatees, or Permitted Transferees, as the case may be. The purchase price for such Shares shall be determined pursuant to Section 4(b) of this Agreement. Settlement of the purchase shall be made at the principal office of the Company within 30 days after delivery of such written notice. In the discretion of the Board of Directors of the Company, payment of the purchase price will be made via cash, a promissory note, or a combination of the two. Any such promissory note shall provide for substantially equal installments, payable at least annually, over a period not to exceed five years and shall accrue interest at the applicable Federal mid-term rate in effect under Code section 1274(d) as of the settlement date, compounded annually. Notwithstanding the foregoing, the repurchase option of the Company described in this Section 4: (i) shall not be exercisable with respect to Offered Shares when the Company has a right to purchase such Offered Shares pursuant to Section 2(b) of this Agreement nor, if the Company does not elect to purchase all of the Offered Shares, during the period set forth in Section 2(d) of this Agreement in which the Offered Shares are transferable pursuant to the terms of the Transfer Notice; and (ii) shall terminate upon the closing of the first public offering of securities of the Company that is effected pursuant to a registration statement filed with, and declared effective by, the Securities and Exchange Commission under the Securities Act of 1933.
Company’s Repurchase Option. (a) In the event that (i) Executive's employment is terminated with Cause or Executive terminates his employment without Good Reason (as those terms are defined in Executive's Senior Management Agreement dated May 14, 1999) prior to the IPO Date (a "Pre-IPO Termination") or (ii) Executive's employment is ------------------- terminated with Cause or Executive terminates his employment without Good Reason (as those terms are defined in Executive's Senior Management Agreement dated May 14, 1999) prior to the expiration of the Transfer restrictions on 100% of the Executive Stock pursuant to the lock-up provisions of Section 1.(a)(ii) and --------------------- (iii) (a "Post-IPO Termination"), then the Executive Stock will be subject to ----- -------------------- repurchase by the Company at $.01 per share (the "Repurchase Option") pursuant ----------------- to the terms and conditions set forth in this Section 2; provided, however, that --------- in the event that the IPO Date has not occurred on or before May 14, 2000, the Executive Stock shall not be subject to repurchase by the Company in the event of a termination of Executive's employment after such date, notwithstanding the provisions of this Section 2.(a). -------------
Company’s Repurchase Option. (a) The termination of the Grantee’s employment with the Company or a Related Entity (as defined below) for any reason will be a “Triggering Event.” The Grantee’s employment will be deemed to have terminated either upon an actual termination of employment or upon the entity for which the Grantee provides services ceasing to be a Related Entity. Employment will not be considered interrupted in the case of any approved leave of absence or a transfer between the Company and any Related Entity. An approved leave of absence for this purpose will include sick leave, military leave, or any other authorized personal leave, so long as the Company or Related Entity has a reasonable expectation that the Grantee will return to provide services for the Company or Related Entity, and provided further that the leave does not exceed six (6) months, unless the Grantee has a statutory or contractual right to re-employment following a longer leave. The term “
Company’s Repurchase Option. In the event the Purchaser ceases to --------------------------- be an employee for any or no reason (including death or disability) before all of the Shares are released from the Company's Repurchase Option (see Section 4), the Company shall, upon the date of such termination (as reasonably fixed and determined by the Company) have the right, but not the obligation (except as provided in Section 3(b) below) (the "Repurchase Option"), for a period of sixty (60) days from such date, to repurchase up to that number of shares which constitute the Unreleased Shares (as defined in Section 4) at the original purchase price per share, plus any interest paid to the Company by the Purchaser with respect to the Shares (the "Repurchase Price"). The Repurchase Option shall be exercised by the Company by delivering written notice to the Purchaser or the Purchaser's executor (with a copy to the Escrow Holder) AND, at the Company's option, (i) by delivering to the Purchaser or the Purchaser's executor a check in the amount of the aggregate Repurchase Price, or (ii) by canceling an amount of the Purchaser's indebtedness to the Company equal to the aggregate Repurchase Price, or (iii) by a combination of (i) and (ii) so that the combined payment and cancellation of indebtedness equals the aggregate Repurchase Price. Upon delivery of such notice and the payment of the aggregate Repurchase Price, the Company shall become the legal and beneficial owner of the Shares being repurchased and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Shares being repurchased by the Company.
Company’s Repurchase Option. In the event that a Triggering Event (as defined below) occurs, the Company will have an option (the “Repurchase Option”) for a period of 90 days from the date of such event, to repurchase any of the Shares that are not vested under the vesting schedule set forth on Exhibit A hereto as of the date of such Triggering Event (the “Unvested Shares”) for no additional consideration. In the event that the Company elects to exercise the Repurchase Option, it will be exercised by the Company by written notice to Grantee, which notice will specify the number of Shares and the time (not later than 30 days from the date of the Company’s notice) and place for the closing of the repurchase of the Shares. Upon delivery of such notice and payment of the purchase price, if any, in accordance with the terms herewith, the Company will become the legal and beneficial owner of the Shares being repurchased and all rights and interests therein or relating thereto, and the Company will have the right to retain and transfer to its own name the number of Shares being repurchased by the Company. As used herein, the term “Triggering Event” means a termination of Grantee’s Continuous Service with the Company or a Related Entity for any reason.
Company’s Repurchase Option. Notwithstanding the foregoing, any time after five (5) full years from the Effective Date, Company has the option of repurchasing the Development Area and all of your Regional Developer rights associated with this Agreement for any opened and unopened Franchises within your Development Area (“Repurchase Option”). Company must notify Regional Developer in writing of Company’s intent to exercise its Repurchase Option at least thirty (30) days prior to the date such option shall take effect (“Repurchase Notice”). The total number of Franchises for which Regional Developer has acquired the Development rights to open under this Agreement is set forth in Exhibit 1. The Repurchase Option includes the acquisition of the following Franchise types on the date of the Repurchase Notice:
Company’s Repurchase Option. The Company shall have the right to repurchase (the "Repurchase Option"), at any time on or prior to the Applicable Date, all of the Units purchased by RHI and held at such time by RHI (but not less than all of such Units), at a price per Unit equal to (i) $3.15 if repurchased on or prior to January 31, 1997, (ii) $3.30 if repurchased after January 31, 1997 but on or prior to February 28, 1997 and (iii) $3.45 if repurchased after February 28, 1997 but on or prior to the Applicable Date; provided, however, that STFI shall, simultaneously with such repurchase by the Company, repurchase the Option (as defined in the Option Agreement) from RHI in accordance with the terms of the Option Agreement. The Repurchase Option may be exercised by notice to RHI specifying the proposed date of repurchase, which shall be a business day. Such notice shall be irrevocable and binding upon the Company.
Company’s Repurchase Option. The provisions of this Article 5 shall be effective only after Optionee (or Optionee’s Representative) has exercised the Option in accordance with the provisions of this Agreement:
Company’s Repurchase Option. The Company shall have the option to repurchase all or a portion of the Shares on the terms and conditions set forth in this Section 5 (the "Repurchase Option") if Optionee should cease to be employed by the Company or cease to perform services for the Company, a Parent or a Subsidiary for any reason, or no reason, including without limitation Optionee's death, disability, voluntary resignation or termination by the Company with or without cause.
