Common use of Repurchase Option Purchase Price Clause in Contracts

Repurchase Option Purchase Price. In the event of the Executive's termination of employment with the Company for any reason other than for Cause, the purchase price per share of the Executive Shares repurchased pursuant to this Section 4 shall be the Fair Market Value thereof, except that the purchase price per share of Common Executive Shares which are Unvested Shares shall be the Original Cost thereof. In the event of the Executive's termination of employment with the Company for Cause, the purchase price per share of (i) the Common Executive Shares repurchased pursuant to this Section 4 shall be the lower of the Fair Market Value thereof and Original Cost thereof and (ii) the Preferred Executive Shares shall be the Fair Market Value thereof. For purposes of this Section 4(e), Fair Market Value shall be determined as of the Termination Date. The purchase price for the Executive Shares repurchased pursuant to the Repurchase Option shall be paid by a transfer of immediately available funds or certified check which shall be delivered to the Executive at the closing of such purchase.