Common use of Repurchase of Optioned Shares Clause in Contracts

Repurchase of Optioned Shares. If the Optionee incurs a termination of employment or other association with the Company and its Affiliates, all or any portion of the Optioned Shares received by the Optionee upon exercise of this Option, to the extent held by the Optionee at the time of such termination or received by the Optionee upon exercise of all or part of this Option after such termination, may be purchased by the Company, at its option, within ninety (90) days after the later of (a) such termination or (b) receipt of such Optioned Shares by the Optionee following exercise of all or part of this Option. If such termination is due to death or Disability or is by the Company other than for Cause or by the Optionee for Good Reason the amount in cash to be paid for the repurchase of such Optioned Shares shall be equal to the Market Value as of the date of such termination multiplied by the number of such Optioned Shares. If such termination is by the Company for Cause or by the Optionee for any reason other than death, Disability or Good Reason, the amount in cash to be paid for the repurchase of such Optioned Shares shall be equal to the aggregate purchase price paid for such Optioned Shares. Notwithstanding the foregoing, the Company’s purchase right set forth in this Section 6 shall lapse to the extent the Optioned Shares become readily tradable on a nationally recognized exchange or market.

Repurchase of Optioned Shares. 1 If the Optionee incurs a termination of employment or other association with the Company and its Affiliates, all or any portion of the Optioned Shares received by the Optionee upon exercise of this Option, to the extent held by the Optionee at the time of such termination or received by the Optionee upon exercise of all or part of this Option after such termination, may be purchased by the Company, at its option, within ninety (90) days after the later of (a) such termination or (b) receipt of such Optioned Shares by the Optionee following exercise of all or part of this Option. If such termination is due to death or Disability or is by the Company other than for Cause or by the Optionee for Good Reason the amount in cash to be paid for the repurchase of such Optioned Shares shall be equal to the Market Value as of the date of such termination multiplied by the number of such Optioned Shares. If such termination is by the Company for Cause or by the Optionee for any reason other than death, Disability or Good Reason, the amount in cash to be paid for the repurchase of such Optioned Shares shall be equal to the aggregate purchase price paid for such Optioned Shares. Notwithstanding the foregoing, the Company’s purchase right set forth in this Section 6 shall lapse to the extent the Optioned Shares become readily tradable on a nationally recognized exchange or market.