Common use of Purchase of Shares Held by Employee and Insurance Coverage Clause in Contracts

Purchase of Shares Held by Employee and Insurance Coverage. In the event Employee's employment is terminated in a Termination Other Than for Cause, the Corporation will also be required, at the sole option of the Employ- ee, to redeem a minimum of fifty percent (50%) of the Corporation stock, or any stock dividends thereof, owned by the Employee as of the Effective Date, that are owned by the employee at the date of severance. The price to be paid will be the market determined value at the close of business at the date of severance. If a public market has not been created, or is not in existence at the time of severance, then the price to be paid shall be the most recent share price obtained in any private offering of the Corporation shares of common stock. In the event Employee's employment is terminated in a Termination Other Than for Cause, the Corporation will also provide family medical insurance consistent with coverages extended to other employees until the Employee reaches the age of sixty five (65). The requirement that the Corporation purchase family medical insurance shall be excused during any period of subsequent employment where the new employer provides equal or better coverage.

Purchase of Shares Held by Employee and Insurance Coverage. In the event Employee's employment is terminated in a Termination Other Than for CauseUpon a Change in Control, the Corporation will also also, be requiredrequired to, at the sole option of the Employ- eeEmployee, to redeem a minimum of fifty twenty-five percent (5025%) of the Corporation stock, or any stock dividends thereof, owned by the Employee as of the Effective Date, that are owned by the employee at the date of severance. The price to be paid will be the market determined value at the close of business at the date of severance. If a public market has not been created, or is not in existence at the time of severance, then the price to be paid shall be the most recent share price obtained in any private offering of the Corporation shares of common stock. In the event Employee's employment is terminated in a Termination Other Than for CauseUpon a Change in Control, the Corporation will also provide family medical insurance consistent with coverages extended to other employees until the Employee reaches the age of sixty five (65). The requirement that the Corporation purchase family medical insurance shall be excused during any period of subsequent employment where the new employer provides equal or better coverage.

Purchase of Shares Held by Employee and Insurance Coverage. In the event Employee's employment is terminated before September 30, 1998, in a Termination Other Than for CauseUpon a Change in Control, the Corporation will also also, be requiredrequired to, at the sole option of the Employ- eeEmployee, to redeem a minimum of fifty twenty-five percent (5025%) of the Corporation stock, or any stock dividends thereof, owned by the Employee as of the Effective Date, that are owned by the employee at the date of severance. The price to be paid will be the market determined value at the close of business at the date of severance. If a public market has not been created, or is not in existence at the time of severance, then the price to be paid shall be the most recent share price obtained in any private offering of the Corporation shares of common stock. In the event Employee's employment is terminated in a Termination Other Than for CauseUpon a Change in Control, the Corporation will also provide family medical insurance consistent with coverages extended to other employees until the Employee reaches the age of sixty five (65). The requirement that the Corporation purchase family medical insurance shall be excused during any period of subsequent employment where the new employer provides equal or better coverage.

Purchase of Shares Held by Employee and Insurance Coverage. In the event Employee's employment is terminated before September 30, 1998, in a Termination Other Than for Cause, the Corporation will also be required, at the sole option of the Employ- eeEmployee, to redeem a minimum of fifty twenty-five percent (5025%) of the Corporation stock, or any stock dividends thereof, owned by the Employee as of the Effective Date, that are owned by the employee at the date of severance. The price to be paid will be the market determined value at the close of business at the date of severance. If a public market has not been created, or is not in existence at the time of severance, then the price to be paid shall be the most recent share price obtained in any private offering of the Corporation shares of common stock. In the event Employee's employment is terminated in a Termination Other Than for Cause, the Corporation will also provide family medical insurance consistent with coverages extended to other employees until the Employee reaches the age of sixty five (65). The requirement that the Corporation purchase family medical insurance shall be excused during any period of subsequent employment where the new employer provides equal or better coverage.

Purchase of Shares Held by Employee and Insurance Coverage. In the event Employee's employment is terminated in a Termination Other Than for CauseUpon a Change in Control, the Corporation will also also, be requiredrequired to, at the sole option of the Employ- eeEmployee, to redeem a minimum of fifty percent (50%) of the Corporation stock, or any stock dividends thereof, owned by the Employee as of the Effective Date, that are owned by the employee at the date of severance. The price to be paid will be the market determined value at the close of business at the date of severance. If a public market has not been created, or is not in existence at the time of severance, then the price to be paid shall be the most recent share price obtained in any private offering of the Corporation shares of common stock. In the event Employee's employment is terminated in a Termination Other Than for CauseUpon a Change in Control, the Corporation will also provide family medical insurance consistent with coverages extended to other employees employ- ees until the Employee reaches the age of sixty five (65). The requirement that the Corporation purchase family medical insurance shall be excused during any period of subsequent employment where the new employer provides equal or better coverage.

Purchase of Shares Held by Employee and Insurance Coverage. In the event Employee's employment is terminated in a Termination Other Than for Cause, the Corporation will also be required, at the sole option of the Employ- eeEmployee, to redeem a minimum of fifty twenty-five percent (5025%) of the Corporation stock, or any stock dividends thereof, owned by the Employee as of the Effective Date, that are owned by the employee at the date of severance. The price to be paid will be the market determined value at the close of business at the date of severance. If a public market has not been created, or is not in existence at the time of severance, then the price to be paid shall be the most recent share price obtained in any private offering of the Corporation shares of common stock. In the event Employee's employment is terminated in a Termination Other Than for Cause, the Corporation will also provide family medical insurance consistent with coverages extended to other employees until the Employee reaches the age of sixty five (65). The requirement that the Corporation purchase family medical insurance shall be excused during any period of subsequent employment where the new employer provides equal or better coverage.

Purchase of Shares Held by Employee and Insurance Coverage. In the event Employee's employment is terminated in a Termination Other Than for Cause, the Corporation will also be required, at the sole option of the Employ- eeEmployee, to redeem a minimum of fifty percent (50%) of the Corporation stock, or any stock dividends thereof, owned by the Employee as of the Effective Date, that are owned by the employee at the date of severance. The price to be paid will be the market determined value at the close of business at the date of severance. If a public market has not been created, or is not in existence at the time of severance, then the price to be paid shall be the most recent share price obtained in any private offering of the Corporation shares of common stock. In the event Employee's employment is terminated in a Termination Ter- mination Other Than for Cause, the Corporation will also provide family medical insurance consistent with coverages extended to other employees until the Employee reaches the age of sixty five (65). The requirement that the Corporation purchase family medical insurance shall be excused during any period of subsequent employment where the new employer provides equal or better coverage.

Purchase of Shares Held by Employee and Insurance Coverage. In the event Employee's employment is terminated in a Termination Other Than for CauseUpon a Change in Control, the Corporation will also be required, at the sole option of the Employ- eeEmployee, to redeem a minimum of fifty percent (50%) of the Corporation stock, or any stock dividends thereof, owned by the Employee as of the Effective Date, that are owned by the employee at the date of severance. The price to be paid will be the market determined value at the close of business at the date of severance. If a public market has not been created, or is not in existence at the time of severance, then the price to be paid shall be the most recent share price obtained in any private offering of the Corporation shares of common stock. In the event Employee's employment is terminated in a Termination Other Than for CauseUpon a Change in Control, the Corporation will also provide family medical insurance consistent with coverages extended to other employees until the Employee reaches the age of sixty five (65). The requirement that the Corporation Cor- poration purchase family medical insurance shall be excused during any period of subsequent employment where the new employer provides equal or better coverage.

Purchase of Shares Held by Employee and Insurance Coverage. In the event Employee's employment is terminated in a Termination Other Than for Cause, the Corporation will also be required, at the sole option of the Employ- eeEmployee, to redeem a minimum of fifty percent (50%) of the Corporation stock, or any stock dividends thereof, owned by the Employee as of the Effective Date, that are owned by the employee at the date of severance. The price to be paid will be the market determined value at the close of business at the date of severance. If a public market has not been created, or is not in existence at the time of severance, then the price to be paid shall be the most recent share price obtained in any private offering of the Corporation shares of common stock. In the event Employee's employment is terminated in a Termination Other Than for Cause, the Corporation will also provide family medical insurance consistent with coverages extended to other employees until the Employee reaches the age of sixty five (65). The requirement that the Corporation purchase family medical insurance shall be excused during any period of subsequent employment where the new employer provides equal or better coverage.

Purchase of Shares Held by Employee and Insurance Coverage. In the event Employee's employment is terminated in a Termination Other Than for CauseUpon a Change in Control, the Corporation will also be required, at the sole option of the Employ- eeEmployee, to redeem a minimum of fifty percent (50%) of the Corporation stock, or any stock dividends thereof, owned by the Employee as of the Effective Date, that are owned by the employee at the date of severance. The price to be paid will be the market determined value at the close of business at the date of severance. If a public market has not been created, or is not in existence at the time of severance, then the price to be paid shall be the most recent share price obtained in any private offering of the Corporation shares of common stock. In the event Employee's employment is terminated in a Termination Other Than for CauseUpon a Change in Control, the Corporation will also provide family medical insurance consistent with coverages extended to other employees until the Employee reaches the age of sixty five (65). The requirement that the Corporation purchase family medical insurance shall be excused during any period of subsequent employment where the new employer provides equal or better coverage.