Common use of Definition of Fair Market Value Clause in Contracts

Definition of Fair Market Value. Whenever "Fair Market Value" of Common Stock shall be determined for purposes of this Article 4, it shall be equal to the average trading price per share of Common Stock in the public market during a period of twenty (20) consecutive trading days, based on the average closing price for those days; provided, however, that if no Company Stock is traded on any trading day in such 20-day period, the closing price per share for that day shall be deemed to be the closing price per share on the last day on which Company Stock was traded.