Common use of Release from Repurchase Option Clause in Contracts

Release from Repurchase Option. (a) If the Purchaser is employed by the Company at the time of the Purchaser's death, Disability or Retirement, all of the Performance Vested Shares shall be automatically released from the Repurchase Option on the effective date of such Termination. (b) If the Purchaser is employed by the Company continuously from the date hereof through January 1, 2001, and the Purchaser has not experienced a Termination on or prior to such date, all of the Time Vested Shares shall be automatically released from the Repurchase Option on such date. (c) The Performance Vested Shares shall be automatically released from the Repurchase Option in installments as follows: (i) if the "Market Value Per Share of Equity" or MVPSE (as defined in Section 3(d)) is at least $603.75 (such amount, and each such amount specified in subsections (ii) through (vi) below, the "Target MVPSE") on December 31, 2000 (such date, and each such date specified in subsections (ii) through (vi) below, a "Target Date"),