Failure of Corporation to Purchase. If the Company, for any reason whatsoever, shall fail or refuse to purchase all of the shares of the Executive, then, and in such case, the obligation to purchase shall be deemed assumed by the other Stockholder for the purpose of assuring the estate of the Executive that his stock shall be purchased. The other Stockholder shall thereupon assume the Company’s obligations to purchase and to make payment for the Executive’s shares of stock as if said other Stockholder had assumed that obligation in the first place.
Appears in 3 contracts
Samples: Employment Agreement (Roadships Holdings, Inc.), Employment Agreement (Roadships Holdings, Inc.), Employment Agreement (Roadships Holdings, Inc.)
Failure of Corporation to Purchase. If the CompanyCompany , for any reason whatsoever, shall fail or refuse to purchase all of the shares of the Executive, then, and in such case, the obligation to purchase shall be deemed assumed by the other Stockholder Stockholders for the purpose of assuring the estate of the Executive that his stock shall be purchased. The other Stockholder Stockholders shall thereupon assume the Company’s obligations to purchase and to make payment for the Executive’s shares of stock as if said other Stockholder Stockholders had assumed that obligation in the first place.
Appears in 3 contracts
Samples: Employment Agreement (Homeland Integrated Security Systems, Inc.), Employment Agreement (Homeland Integrated Security Systems, Inc.), Employment Agreement (Homeland Integrated Security Systems, Inc.)
