Repurchase of Unvested Restricted Shares upon Termination of Employment Sample Clauses

Repurchase of Unvested Restricted Shares upon Termination of Employment. 3.1.1 If the Stockholder for any reason or no reason, with or without cause, ceases to be employed by the Company, prior to the date specified in the table set forth below, then the Company shall have the right and option (the "Purchase Option"), but not the obligation, to purchase, or to designate one or more purchasers for, all or a part of the percentage of the total number of the Restricted Shares as is set forth in the columns of the table set forth below for the period in which the Stockholder ceases to be so employed (the "Unvested Restricted Shares"), at a price equal to $.15 per share (the "Share Price"), such price to be appropriately adjusted for stock dividends, stock splits or combinations, or similar recapitalizations. For purposes of this Agreement, employment with the Company shall include employment with a parent, subsidiary or sibling of the Company. ================================================================================ On or 18 January 18 April 18 July 18 October Before -------------------------------------------------------------------------------- 1998 75.0% 1999 70.3% 65.6% 61.9% 56.2% 2000 51.6% 46.9% 42.2% 37.5% 2001 32.8% 28.1% 23.4% 18.7% 2002 14.1% 9.4% 4.7% 0.0% ================================================================================
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Related to Repurchase of Unvested Restricted Shares upon Termination of Employment

  • 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.

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

  • 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:

  • Company Obligations Upon Termination of Employment During the Term of this Agreement, the Company shall have the following obligations upon the termination of the Executive’s employment with the Company as described in this Section 5:

  • Certain Benefits Upon Termination Executive’s employment shall be terminated upon the earlier of (i) the voluntary resignation of Executive with or without Good Reason; (ii) Executive’s death or permanent disability; or (iii) upon the termination of Executive’s employment by LTC for any reason at any time. In the event of such termination, the below provisions of this Section 6 shall apply, and in the event of a Change in Control, whether or not Executive’s employment is terminated thereby, Section 6(b) shall apply.

  • Effect of Termination of Service on Restricted Stock Award 10.1 This Restricted Stock Award will vest as follows:

  • Forfeiture upon Termination of Status as a Service Provider Notwithstanding any contrary provision of this Award Agreement, the balance of the Restricted Stock Units that have not vested as of the time of Participant’s termination as a Service Provider for any or no reason and Participant’s right to acquire any Shares hereunder will immediately terminate.

  • 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:

  • Termination of Consulting Period Notwithstanding any other provision hereof, the Consulting Period and Consultant’s services as a consultant hereunder shall terminate, and, except as otherwise specifically provided herein, this Agreement shall terminate:

  • 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:

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