Common use of Profits on the Sale of Certain Shares; Redemption Clause in Contracts

Profits on the Sale of Certain Shares; Redemption. If any of the events specified in Section 4(b) of this Option Agreement occur within one year from the date the Optionee last performed services for the Company (the “Termination Date”) (or such longer period required by any written employment agreement) all profits earned from the sale of the Common Shares underlying this Option, during the two-year period commencing one year prior to the Termination Date shall be forfeited and immediately paid by the Optionee to the Company. Further, in such event, the Company may at its option redeem Common Shares acquired upon exercise of this Option by payment of the exercise price to the Optionee. The Company’s rights under this Section 5 do not lapse one year from the Termination Date but are a contract right subject to any appropriate statutory limitation period.

Appears in 3 contracts

Samples: Nonqualified Stock Option Agreement (Yahoo Inc), Nonqualified Stock Option Agreement (Interclick, Inc.), Nonqualified Stock Option Agreement (Interclick, Inc.)

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Profits on the Sale of Certain Shares; Redemption. If any of the events specified in Section 4(b3(c) of this Option Agreement occur within one year from the last date the Optionee last performed services for the Company (the “Termination Date”) (or such longer period required by any written employment agreement) ), all profits earned from the sale of the Common Shares Company’s securities, including the sale of shares of common stock underlying this OptionOptions, during the two-year period commencing one year prior to the Termination Date shall be forfeited and immediately forthwith paid by the Optionee to the Company. Further, in such event, the Company may at its option redeem Common Shares shares of common stock acquired upon exercise of this Option Options by payment of the exercise price to the Optionee. The Company’s rights under this Section 5 do not lapse one year from the Termination Date but are a contract right subject to any appropriate statutory limitation period.

Appears in 2 contracts

Samples: Non Qualified Stock Option Agreement (Options Media Group Holdings, Inc.), Non Qualified Stock Option Agreement (Options Media Group Holdings, Inc.)

Profits on the Sale of Certain Shares; Redemption. If any of the events specified in Section 4(b) 24 of this Option Agreement the Plan occur within one year from the last date the Optionee last performed performs services for the Company (the “Termination Date”) (or such longer period required by any written employment agreement) ), all profits earned from the sale of the Common Shares Company’s securities, including the sale of shares of common stock underlying this Optionthe Options, during the two-year period commencing one year prior to the Termination Date shall be forfeited and immediately forthwith paid by the Optionee to the Company. Further, in such event, the Company may at its option redeem Common Shares shares of common stock acquired upon exercise of this Option the Options by payment of the exercise price to the Optionee. The Company’s rights under this Section 5 6 do not lapse one year from the Termination Date but are a contract right subject to any appropriate statutory limitation period.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Recruiter.com Group, Inc.)

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Profits on the Sale of Certain Shares; Redemption. If any of the events specified in Section 4(b) 4 of this Option Agreement occur within one year from the last date the Optionee last performed services for of employment with the Company (the “Termination Date”) (or such longer period required by any written employment agreement) ), all profits earned from the Optionee’s sale of the Company's securities, including the sale of shares of Common Shares Stock underlying this OptionOptions, during the two-year period commencing one year prior to the Termination Date shall be forfeited and immediately forthwith paid by the Optionee to the Company. Further, in such event, the Company may at its option redeem shares of Common Shares Stock acquired upon exercise of this Option by payment of the exercise price to the OptioneeOptions. The Company’s 's rights under this Section 5 do not lapse one year from the Termination Date but are a contract right subject to any appropriate statutory limitation period.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Ecosphere Technologies Inc)

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