Repurchase of Restricted Shares. If the Participant’s employment with the Company terminates for any reason, the Company shall have the right, but not the obligation, to purchase all or any portion of the Restricted Shares owned by the Participant. Such option shall be exercisable by the Company within six (6) months following the date of the termination of the Participant’s employment with the Company by delivery of a written notice to the Participant. The Company may assign its rights under this Section 2.3 to the stockholders of the Company (other than the Participant), at any time, on a pro rata basis. The purchase price per share of all purchases under this Section 2.3 of Restricted Shares shall be the Option Price.
Repurchase of Restricted Shares. (a) In the event of Employee’s Termination of Employment, the Company shall have the right and option, but not obligation, to purchase from Employee, or Employee’s personal representative, as the case may be, any or all of the Restricted Shares which are subject to such right and option as of the date of the Termination of Employment, at the lesser of (i) the per share purchase price paid by Employee for such Restricted Shares, or (ii) the then current Fair Market Value of such Restricted Shares. Such right and option shall be referred to herein as the “Repurchase Option.” The Company shall have the right to assign at any time the Repurchase Option, whether or not the Repurchase Option is then exercisable, to one or more persons as may be selected by the Company.
(b) The Company (or any assignee thereof) may exercise the Repurchase Option by delivering personally or by registered mail, to Employee (or Employee’s legal representative), within ninety (90) days of the Termination of Employment, a notice in writing indicating the Company’s (or such assignee’s) intention to exercise the Repurchase Option and setting forth a date for closing not later than thirty (30) days from the mailing of such notice. The closing shall take place at the Company’s (or such assignee’s) office. At the closing, the holder of the certificates for the Restricted Shares being transferred shall deliver the stock certificate or certificates evidencing the Restricted Shares, and the Company (or such assignee) shall deliver the purchase price therefor to Employee (or Employee’s legal representative).
(c) Payment of the purchase price for the Restricted Shares purchased by the Company (or an assignee of the Repurchase Option) upon the exercise of the Repurchase Option shall, at the option of the Company (or any such assignee), be made in cash, by check or cash equivalent, in immediately available funds. At its option, the Company (or such assignee) may elect to make payment for such Restricted Shares by wire transfer of immediately available funds to a bank located in the United States and selected by Employee (or Employee’s legal representative). The Company (or such assignee) shall avail itself of this option by a notice in writing to Employee (or such Employee’s legal representative) stating the Company (or such assignee) is ready to pay by wire transfer, and waiving the closing at the Company’s (or such assignee’s) office, and requesting Employee (or Employee’s legal representative)...
Repurchase of Restricted Shares. The repurchase of Restricted Shares by the Company pursuant to this Section 2 shall be consummated (the “Repurchase Event”) on the date designated by the Company in a written notice by the Company to the Purchaser or, if relevant, any Permitted Transferee, of the Company’s exercise of its option pursuant to Section 2(a), which date shall not be more than sixty (60) days after the date of such written notice. The Repurchase Event shall take place at the Company’s executive offices. At the Repurchase Event, the Company shall pay the Repurchase Price (as defined below) in the manner specified in Section 3 hereof and, without any further action by the Purchaser or, as the case may be, Permitted Transferee, such Restricted Shares shall be assigned to the Company or its nominee, free and clear of any liens or encumbrances. The Company shall be entitled to receive representations and warranties with respect to title, authority and liens and other documentation from the Purchaser or, as the case may be, any Permitted Transferee, in connection with the repurchase of such Restricted Shares.
Repurchase of Restricted Shares. Upon termination of the Engagement Period, the Company shall have the right, but not the obligation, to purchase all or any portion of the Restricted Shares owned by the Participant. Such option shall be exercisable by the Company within six (6) months following the date of the termination by delivery of a written notice to the Participant. The Company may assign its rights under this Section 2.3 to the stockholders of the Company (other than the Participant), at any time, on a pro rata basis. The purchase price per share of all purchases under this Section 2.3 of Restricted Shares shall be the Option Price.
Repurchase of Restricted Shares. Notwithstanding anything to the contrary in this Agreement, if Employee shall cease to be an employee of the Company or any of its subsidiaries for any reason other than retirement from employment with the Company or any of its subsidiaries at age sixty-five (65) or later with the written consent of the Compensation Committee of the Board of Directors of the Company, including, without limitation, death, disability, resignation, termination for cause or termination without cause, then unless the Company shall determine otherwise, the Company shall repurchase each then unvested Restricted Share at a purchase price equal to the Purchase Price per share.
Repurchase of Restricted Shares. Notwithstanding anything to the contrary contained in this Agreement, if Participant shall cease to be an employee or independent contractor of the Company or any of its subsidiaries for any reason, or for no reason, then, unless the Committee shall determine otherwise, the Company shall repurchase each then unvested Restricted Share at a purchase price equal to the Cash Purchase Price per share.
Repurchase of Restricted Shares. If, during the Vesting Schedule set forth in section 2 herein, any conditions other than simple timing conditions were not fulfilled, the Company has the right to repurchase any unvested Restricted Shares, and any of the events in section 6 of the Restricted Share Purchase Agreement occurs, the Company may reacquire a certain number of Restricted Shares from the Grantee at USD0.0001 per share, if the penalty payments incurred from such occurrences are not received by the Company by their corresponding due date. The number of Restricted Shares that the Company may reacquire equals to the amount of unpaid penalties divided by the closing price of the publicly traded shares of the Company on the first trading day after Penalty Due Date. Any currency exchange rate used for this repurchase shall be calculated using the median exchange rate announced by the Bank of China upon the first trading date after Penalty Due Date. To repurchase Restricted Shares to satisfy the unpaid penalties incurred from the breaches, the Company shall first reacquire the unvested Restricted Shares to satisfy the unpaid penalties for the breaches. If the number of the unvested Restricted Shares is less than the number of Restricted Shares that the Company may reacquire, the Company may reacquire the vested Restricted Shares; if still insufficient, the Grantee or Mr. Xianle Ni shall pay the difference between the unpaid penalties and the value of the repurchased Restricted Shares in cash.
Repurchase of Restricted Shares. Upon the occurrence of a Termination Event, the Company or its assigns shall have the right and option to repurchase (the "Repurchase Right") all or any portion of the Restricted Shares held by the Grantee or any Permitted Transferee as of the date of such Termination Event at the per share purchase price set forth above, subject to adjustment as provided herein. The Repurchase right specified herein shall survive and remain in effect as to Restricted Shares following and notwithstanding any Liquidity Event or other transaction involving the Company and certificates representing such Restricted Shares shall bear legends to such effect.
Repurchase of Restricted Shares. If, during the Vesting Schedule set forth in section 2 herein, any conditions other than simple timing conditions were not fulfilled, the Company has the right to repurchase any unvested Restricted Shares. In the event that any of the following occurs, the Company may reacquire a certain number of Restricted Shares from the Grantee at RMB0.0001 per share, if the penalty payments incurred from such occurrences are not received by the Company by their corresponding due date in accordance with the Capital Injection and Share Transfer Agreement (“Penalty Due Date”): (i) Xx. Xxxxxxx Xxxxx Hou does not completely correct the inaccurate capital injection record in Nationsky within 30 days after the closing of the Nationsky Transaction; (ii) Xx. Xxx does not fully discharge his obligation of injecting RMB13 million pay-in capital into Nationsky within 180 days after the closing of the Nationsky Transaction; (iii) Nationsky fails to cure the social insurance, housing funds and other welfare-oriented payment delinquencies within 180 days after the closing of the Nationsky Transaction; (iv) any material loss to the Company or any affiliates of the Company were incurred due to false, incomplete or misleading representation by Nationsky in the Capital Injection and Share Transfer Agreement; or (v) Nationsky fails to timely perform any obligation in accordance with the Capital Injection and Share Transfer Agreement and fails to cure any such breaches within the time extension, if any, agreeable to the Company. The number of Restricted Shares that the Company may reacquire equals to the amount of unpaid penalties divided by the closing price of the publicly traded shares of the Company on the first trading day after Penalty Due Date. Any currency exchange rate used for this repurchase shall be calculated using the median exchange rate announced by the Bank of China upon the first trading date after Penalty Due Date. To repurchase Restricted Shares to satisfy the unpaid penalties incurred from Nationsky’s breaches, the Company shall first reacquire the unvested Restricted Shares to satisfy the unpaid penalties for Nationsky’s breaches. If the number of the unvested Restricted Shares is less than the number of Restricted Shares that the Company may reacquire, the Company may reacquire the vested Restricted Shares; if still insufficient, the Grantee or Xx. Xxx shall pay the difference between the unpaid penalties and the value of the repurchased Restricted Shares in cash.
Repurchase of Restricted Shares. Notwithstanding anything to the contrary in this Agreement, if any of the following events shall occur prior to the expiration or termination of any Forfeiture Period, then, unless the Committee shall determine otherwise, the Company shall repurchase all Restricted Shares subject to such Forfeiture Period at a purchase price of $1.00 per share:
(a) the termination of the Employee's status as a full-time employee of the Company or any of its subsidiaries for no reason, or for any reason other than an approved leave of absence; or
(b) the failure of the Employee again to have become a full-time employee of the Company or any of its subsidiaries within one year following the date upon which he or she shall have ceased to be a full-time employee of the Company or any of its subsidiaries because of an approved leave of absence.
