Repurchase of Option on Termination of Employment Sample Clauses

Repurchase of Option on Termination of Employment. If the Grantee's active employment with each of the Company and any subsidiaries of the Company that employ the Grantee is terminated for any reason whatsoever, each of the Company and Lexmark shall have an option to purchase all (but not less than all) of the portion of the Option that is then exercisable (the "Covered Option"), and shall have a period of 30 days beginning on the later of the date of termination of employment and the Special Registration (the "First Purchase Period") during which to give notice in writing to the Grantee of its exercise of such right to purchase the Covered Option, PROVIDED that if the Company gives notice during the First Purchase Period of its exercise of such right to purchase the Covered Option, Lexmark's right to purchase the Covered Option shall terminate. If the Company and Lexmark fail to exercise their rights to purchase the Covered Option within the First Purchase Period, the C&D Fund shall have the right to purchase the Covered Option and shall have 30 days following the end of the First Purchase Period, or 30 days from the date of receipt of notice of the Grantee's termination in accordance with Section 4 (e), whichever is later (the "Second Purchase Period"), to give notice in writing to the Grantee of the C&D Fund's exercise of its right to purchase the Covered Option. If the right to purchase the Covered Option of the Company, Lexmark and the C&D Fund granted in this sub-section is not exercised as provided herein (other than as a result of Section 8), the Grantee shall be entitled to retain the Covered Option, subject to all of the provisions of the Agreement. If the Company, Lexmark and the C&D Fund have failed to exercise their respective rights to purchase the Covered Option pursuant to this Section 4 (c) within the time periods specified herein, and if the Grantee's active employment with each of the Company and any subsidiaries of the Company that employ the Grantee is terminated (i) by such employer or employers without Cause (as defined in Section 4 (d)) or (ii) by the Grantee by Retirement at Normal Retirement Age (as defined in Section 4 (d)) or (iii) by reason of Permanent Disability (as defined in Section 4 (d)) or death, on notice from the Grantee (or his estate) in writing and delivered to the Company within 30 days following the end of the Second Purchase Period, the Company shall purchase the Covered Option. All purchases pursuant to this Section 4 (c) by the Company, Lexmark or the C&D Fund ...
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Repurchase of Option on Termination of Employment 
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Related to Repurchase of Option on Termination of Employment

  • Payments Upon Termination of Employment (a) If Executive’s employment with the Company is terminated by reason of:

  • Compensation Upon Termination of Employment If the Executive’s employment hereunder is terminated, in accordance with the provisions of Article III hereof, and except for any other rights or benefits specifically provided for herein to be effective following the Executive’s period of employment, the Company will provide compensation and benefits to the Executive only as follows:

  • Benefits Upon Termination of Employment If the Executive is entitled to benefits pursuant to this Section 2, the Company agrees to pay or provide to the Executive as severance payment, the following:

  • Rights Upon Termination of Employment The terms which regulate the treatment of the International Participant's Restricted Stock Units upon termination of employment are set out in the Plan and in the Award Documents. In summary, upon the International Participant's termination of employment for any reason other than death, Disability or Retirement, any unvested Restricted Stock Units shall be forfeited and cancelled on the date of such termination of employment.

  • Early Termination of Employment In addition to any Termination of Employment of Executive as a Retired Early Employee under Paragraph 6 of this Agreement, a Termination of Employment of Executive may occur prior to the normal expiration of the Term under the circumstances and with the consequences set forth below.

  • Severance Compensation upon Termination of Employment If the Company shall terminate the Executive’s employment other than pursuant to Section 5(a), (b) or (c) or if the Executive shall terminate his employment for Good Reason, then the Company shall pay to the Executive as severance pay in a lump sum, in cash, on the fifth day following the Date of Termination, an amount equal to three (3) times the average of the aggregate annual compensation paid to the Executive during the three (3) fiscal years of the Company immediately preceding the Change of Control by the Company subject to United States income taxes (or, such fewer number of fiscal years if the Executive has not been employed by the Company during each of the preceding three (3) fiscal years).

  • Voluntary Termination of Employment If during the Employment Term, Executive terminates his employment under circumstances other than those specified elsewhere in this Section 8, Executive shall be entitled to the payments and benefits specified in Section 8(a).

  • Compensation and Benefits Upon Termination of Employment (a) If the Company shall terminate the Executive's employment after a Change in Control other than pursuant to Section 3(b), 3(c) or 3(d) and Section 3(f), or if the Executive shall terminate his employment for Good Reason, then the Company shall pay to the Executive, as severance compensation and in consideration of the Executive's adherence to the terms of Section 5 hereof, the following:

  • Other Termination of Employment In the event of your voluntary termination (other than a Retirement subject to Section 2(c) or a Qualifying Termination subject to Section 2(f)), or termination by the Company or a subsidiary of the Company for misconduct or other conduct deemed by the Company to be detrimental to the interests of the Company or a subsidiary of the Company, you shall forfeit all unvested RSUs on the date of termination.

  • Termination on Death or Disability Upon a termination of employment due to the Executive’s death or Disability, the Company shall have no further liability or further obligation to the Executive except that the Executive (or, if applicable, his estate or designated beneficiaries under any Company-sponsored employee benefit plan in the event of his death) shall be entitled to receive:

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