Common use of Repurchase of Company Shares Owned by Executive Clause in Contracts

Repurchase of Company Shares Owned by Executive. Upon request made during the Option Election Period, the Company shall purchase all Company shares owned by the Executive immediately prior to the Date of Termination. Within 45 days after the request is made, the Executive's shares properly endorsed and free of all claims shall be delivered to the Company. Thereupon, the Company shall pay the purchase price in cash. The purchase price shall be the highest price per share that can be computed under Section 3.7.

Appears in 4 contracts

Samples: Severance Benefit Agreement (Leggett & Platt Inc), Severance Benefit Agreement (Leggett & Platt Inc), Severance Benefit Agreement (Leggett & Platt Inc)

AutoNDA by SimpleDocs

Repurchase of Company Shares Owned by Executive. Upon Executive's ----------------------------------------------- request made during the Option Election Period, the Company shall purchase all Company shares owned by the Executive immediately prior to the Date of Termination. Within 45 days after the request is made, the Executive's shares shares, properly endorsed and free of all claims claims, shall be delivered to the Company. Thereupon, the Company shall pay the purchase price in cash. The purchase price shall be the highest price per share that can be computed under Section 3.7.

Appears in 1 contract

Samples: Employment Agreement (Leggett & Platt Inc)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.