Initial Stock Purchase. Concurrent with the execution of this agreement, the Company shall offer to sell and Executive shall purchase 2,000 shares of the Common Stock of the Company for a purchase price of $4,000.00, (the “Stock”). The terms under which the Executive shall purchase the Stock shall be described in a definitive Subscription Agreement, and shall not be subject to limitations on transferability and resale except as are required for compliance with federal and state securities laws.
Initial Stock Purchase. The Company has issued and sold One Million Five Hundred Thousand (1,500,000) shares of the Company’s common stock (the “Shares”) to Executive pursuant to that certain Restricted Stock Purchase Agreement dated as of December 14, 2007, as amended by that certain Amendment No. 1 to Restricted Stock Purchase Agreement of even date herewith (collectively, the “Restricted Stock Purchase Agreement”).
Initial Stock Purchase. At the Initial Closing (as defined below), HomeMark will purchase from Parent, and Parent will sell to HomeMark, the Subsidiary Stock, for a purchase price of $20,000 (the "Purchase Price"), payable in cash at the Initial Closing.
Initial Stock Purchase. Each Organizer shall purchase Twenty-five (25) shares of stock of the Common Stock of the Holding Company (the "Initial Stock Purchase Price") at One Thousand Dollars ($1,000.00) per share for an aggregate purchase price of Twenty Five Thousand Dollars ($25,000.00) (the "Initial Purchase Price").
Initial Stock Purchase. No later than December 31, 1996, Executive shall purchase that number of whole shares of Common Stock which have an aggregate fair market
Initial Stock Purchase. On or within five days following the Effective Date, the Executive shall be permitted but not obligated to purchase 375,000 shares of the Company's $0.001 par value common stock (the "Initial Shares") at a purchase price of $ 3.00 per share. Executive acknowledges that such shares shall be issued pursuant to an exemption from registration under the Securities Act of 1933, as amended, and shall be deemed "restricted securities" thereunder, but shall otherwise be freely transferable and not subject to any repurchase right by the Company. The Company and Executive acknowledge that the Board has determined that the fair market value as of the Effective Date of one share of the Company's $0.001 par value common stock is $7.20. The Company shall provide Executive with an interest-free loan (the "Loan") in an amount equal to the amount of income taxes payable as a result of Executive's purchase of the Initial Shares. The Executive shall be obligated to repay the Loan to the Company upon the earlier of: (i) four years from the date of the loan, (ii) termination of Executive's employment; provided, however, that, to the extent then outstanding, the Loan shall be forgiven in the event that Executive's employment is terminated (i) by the Company other than for Cause, including upon the Company's delivery of the Term Termination Notice to Executive or (ii) by the Executive for Good Reason. The Company shall not be obligated to reimburse employee for any taxes associated with the forgiveness of such loan.
Initial Stock Purchase. Company shall sell and Manager or its affiliate shall purchase common stock of Company at an aggregate purchase price of $1,000,000. The price per share shall be $2.50 per share. If the average closing bid price as reported on NASDAQ for the twenty (20) trading days immediately following the release of the lock-up referred to in Section 7.3 hereof shall be less than $2.50 per share, the purchase price shall be adjusted to equal such average price, but in no event shall the purchase price be lower than $2.25 per share. Said shares shall be subject to a twelve (12) month lock-up on public trading.
Initial Stock Purchase. Subject to the terms and conditions ---------------------- hereof, at the Initial Closing, AHP will purchase from the Company and the Company will sell to AHP 400,000 Series C Preferred Shares at a purchase price of $2.50 per share for an aggregate purchase price of $1,000,000 (the "Initial Stock Purchase"), payable by AHP by wire transfer in immediately available funds to the account of the Company designated by the Company no fewer than three Business Days prior to the Initial Closing Date.
Initial Stock Purchase. Within fifteen (15) days after the Effective Date, the Company will, by action of its Board, provide to Executive the opportunity to purchase up to 600,000 shares of the Company's Common Stock (the "Initial Shares"), pursuant to the standard Restricted Stock Purchase Agreement (the "Restricted Stock Purchase Agreement") approved as part of the Company's Equity Incentive Plan (the "Plan"), as follows:
(a) Such Initial Shares will be sold to Executive for the fair market value per share of the Common Stock as determined in good faith by the Board as of the date of sale.
(b) The Company will provide Executive an opportunity to acquire the Initial Shares by issuing to the Company a Note in the amount of the purchase price for the Initial Shares bearing interest at the minimum applicable Federal interest rate, secured by the Initial Shares.
(c) The Company shall have the right to repurchase, at the purchase price per share paid by Executive, shares from Executive upon his termination as will be specified in the Restricted Stock Purchase Agreement, which repurchase right will lapse with respect to one hundred and twenty thousand (120,000) shares on the first anniversary of the Effective Date and ten thousand (10,000) shares for each month thereafter, at the end of which Executive still is employed by the Company, as specified in the Restricted Stock Purchase Agreement.
Initial Stock Purchase. As of the Closing Date, the Executive ---------------------- shall be entitled to purchase from Holdings (if the Executive so elects), and Holdings (upon such election) shall sell to the Executive, up to 2,717.5 shares of its common stock at a price of $1,287.94 per share, under a stock purchase agreement in substantially the form attached hereto as Exhibit D and in return for a promissory note (the "Executive Promissory Note") for the amount of the ------------------------- aggregate purchase price, which Executive Promissory Note shall be in substantially the form attached hereto as Exhibit E and shall be secured by a pledge agreement in substantially the form attached hereto as Exhibit F.
