Common use of Repurchase of Company Stock Clause in Contracts

Repurchase of Company Stock. a. If the Executive's employment with the Company is terminated for any reason, including upon expiration of the Initial Term or any Renewal Term, as applicable (the "Termination Event"), Xxxxxxx Xxxxx and Xxxxxx Xxxxxxxx, equally, or either of them if the other is no longer employed by the Company, or, if neither of them is then employed by the Company or they refuse to so purchase, the Company or any persons it may designate (the "Purchasers"), shall have the obligation to purchase from the Executive at the Purchase Price per share, and the Executive shall have the obligation to sell to such Purchasers at such price, each share of Company Stock then held by the Executive.