Common use of Corporation’s Right to Repurchase Award Shares following Termination of Service Clause in Contracts

Corporation’s Right to Repurchase Award Shares following Termination of Service. (a) If there is a Termination of Service with respect to the Participant for any reason at anytime (including, without limitation, the Participant’s death or Disability), then the Corporation shall have the right, but not the obligation, to repurchase any Award Shares at a purchase price per share determined as set forth in Section 6(b) below. (b) The Corporation’s right to repurchase Award Shares following the Participant’s Termination of Service as provided in Section 6(a) above may be exercised in whole or in part by the Corporation, if at all, by the Corporation’s delivery to the Participant, within one hundred twenty (120) days following the Termination of Service, of written notice of the Corporation’s election to exercise. Such notice shall set forth the number of Award Shares to be purchased and the date and time of closing of the purchase; provided that the date specified for closing shall not be less than ten (10) days nor more than thirty (30) days from the date of the notice of election to exercise. To the extent the Corporation does not initially elect to purchase all of the Award Shares hereunder in its first written notice of election to exercise, the Corporation may, within the 120-day period specified herein, elect to exercise its right to purchase any remaining Award Shares by delivering to the Participant an additional written notice(s) of election to exercise in the manner provided above; provided, however, that unless otherwise agreed by the parties, the closing date for all purchases under this Section 6 shall be on the closing date set forth in the initial notice. On or before the closing set forth in the notice(s) of election to exercise, the Participant shall deliver to the Corporation the certificates representing the Award Shares being purchased, duly endorsed for transfer to the Corporation, together with such additional documents or instruments of transfer as the Corporation may request, in accordance with such notice. The Corporation shall thereafter promptly send to the Participant payment for such purchase by check or wire transfer based on a per share purchase price determined as follows:

Corporation’s Right to Repurchase Award Shares following Termination of Service. (a) If there is a Termination of Service with respect to the Participant for any reason at anytime (including, without limitation, the Participant’s death or Disability), then the Corporation shall have the right, but not the obligation, to repurchase any Award Shares at a purchase price per share determined as set forth in Section 6(b) below. (b) The Corporation’s right to repurchase Award Shares following the Participant’s Termination of Service as provided in Section 6(a) above may be exercised in whole or in part by the Corporation, if at all, by the Corporation’s delivery to the Participant, within one hundred twenty (120) the 90 days following the Termination of Service, of written notice of the Corporation’s election to exercise. Such notice shall set forth the number of Award Shares to be purchased and the date and time of closing of the purchase; provided that the date specified for closing shall not be less than ten (10) days nor more than thirty (30) days from the date of the notice of election to exercise. To the extent the Corporation does not initially elect to purchase all of the Award Shares hereunder in its first written notice of election to exercise, the Corporation may, within the 12090-day period specified herein, elect to exercise its right to purchase any remaining Award Shares by delivering to the Participant an additional written notice(s) of election to exercise in the manner provided above; provided, however, that unless otherwise agreed by the parties, the closing date for all purchases under this Section 6 shall be on the closing date set forth in the initial notice. On or before the closing set forth in the notice(s) of election to exercise, the Participant shall deliver to the Corporation the certificates representing the Award Shares being purchased, duly endorsed for transfer to the Corporation, together with such additional documents or instruments of transfer as the Corporation may request, in accordance with such notice. The Corporation shall thereafter promptly send to the Participant payment for such purchase by check or wire transfer based on a per share purchase price determined as follows:

Corporation’s Right to Repurchase Award Shares following Termination of Service. (a) If there is a Termination of Service with respect to the Participant for any reason at anytime (including, without limitation, the Participant’s death or Disability), then the Corporation shall have the right, but not the obligation, to repurchase any Award Shares at a purchase price per share determined as set forth in Section 6(b) below. (b) The Corporation’s right to repurchase Award Shares following the Participant’s Termination of Service as provided in Section 6(a) above may be exercised in whole or in part by the Corporation, if at all, by the Corporation’s delivery to the Participant, within one hundred twenty (120) the 90 days following the Termination of Service, of written notice of the Corporation’s election to exercise. Such notice shall set forth the number of Award Shares to be purchased and the date and time of closing of the purchase; provided that the date specified for closing shall not be less than ten (10) days nor more than thirty (30) days from the date of the notice of election to exercise. To the extent the Corporation does not initially elect to purchase all of the Award Shares hereunder in its first written notice of election to exercise, the Corporation may, within the 120-day period specified herein, elect to exercise its right to purchase any remaining Award Shares by delivering to the Participant an additional written notice(s) of election to exercise in the manner provided above; provided, however, that unless otherwise agreed by the parties, the closing date for all purchases under this Section 6 shall be on the closing date set forth in the initial notice. On or before the closing set forth in the notice(s) of election to exercise, the Participant shall deliver to the Corporation the certificates representing the Award Shares being purchased, duly endorsed for transfer to the Corporation, together with such additional documents or instruments of transfer as the Corporation may request, in accordance with such notice. The Corporation shall thereafter promptly send to the Participant payment for such purchase by check or wire transfer based on a per share purchase price determined as follows:

Corporation’s Right to Repurchase Award Shares following Termination of Service. (a) If there is a Termination of Service with respect to the Participant for any reason at anytime (including, without limitation, the Participant’s death or Disability), then the Corporation shall have the right, but not the obligation, to repurchase any Award Shares at a purchase price per share determined as set forth in Section 6(b) below. (b) The Corporation’s right to repurchase Award Shares following the Participant’s Termination of Service as provided in Section 6(a) above may be exercised in whole or in part by the Corporation, if at all, by the Corporation’s delivery to the Participant, within the one hundred twenty (120) days following the Termination of Service, of written notice of the Corporation’s election to exercise. Such notice shall set forth the number of Award Shares to be purchased and the date and time of closing of the purchase; provided that the date specified for closing shall not be less than ten (10) days nor more than thirty (30) days from the date of the notice of election to exercise. To the extent the Corporation does not initially elect to purchase all of the Award Shares hereunder in its first written notice of election to exercise, the Corporation may, within the 120-day period specified herein, elect to exercise its right to purchase any remaining Award Shares by delivering to the Participant an additional written notice(s) of election to exercise in the manner provided above; provided, however, that unless otherwise agreed by the parties, the closing date for all purchases under this Section 6 shall be on the closing date set forth in the initial notice. On or before the closing set forth in the notice(s) of election to exercise, the Participant shall deliver to the Corporation the certificates representing the Award Shares being purchased, duly endorsed for transfer to the Corporation, together with such additional documents or instruments of transfer as the Corporation may request, in accordance with such notice. The Corporation shall thereafter promptly send to the Participant payment for such purchase by check or wire transfer based on a per share purchase price determined as follows: