Repurchase Rights upon Termination Sample Clauses

Repurchase Rights upon Termination. (i) Upon the termination of employment of the Grantee by the Company or any of its Subsidiaries for Cause (the date of such termination, the “Termination Date”), subject to the provisions of this Section 6 and the prior approval of the Compensation Committee of the Board (or if there is no such Compensation Committee, the Board), the Company shall have the right (but not the obligation) to purchase, and if such right is exercised, the Grantee shall sell, and shall cause any Permitted Transferees of the Grantee to sell (and such Permitted Transferees shall sell), to the Company all or any portion (as determined by the Company) of the vested Restricted Shares owned by the Grantee or its Permitted Transferees at a price per Share equal to an amount (the “Termination Price”) (as determined pursuant to Section 6(b) below); provided, that the parties acknowledge that any unvested Restricted Shares held by the Grantee as of the Termination Date shall be cancelled and forfeited automatically pursuant to this Agreement.
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Repurchase Rights upon Termination. (a) Except as expressly provided in any Subscription Agreement executed by any Management Stockholder, if any Management Stockholder who is an employee or consultant of the Company or any of its Subsidiaries (the entity employing such Management Stockholder, the “Employer”) ceases to be employed by, or provide services to, the Company or any of its Subsidiaries (a “Terminated Management Stockholder”) for any reason (the reason for the termination of such employment or consultancy, the “Termination Event” and the date of such termination, the “Termination Date”), the Company shall have the right (but not the obligation) to purchase, and if such right is exercised, such Terminated Management Stockholder shall sell, and shall cause any Permitted Transferees of such Terminated Management Stockholder (which for the purposes of this Article VI shall include any Persons who, as of November 5, 2010, would be deemed to be Permitted Transferees) to sell (and such Permitted Transferees shall sell), to the Company all or any portion (as determined by the Company) of the Equity Securities (the “Termination Securities”) owned by such Terminated Management Stockholder and such Permitted Transferees at the price per Termination Security set forth in Section 6.02 (the “Termination Price”); provided, that the parties acknowledge that with respect to certain Termination Securities in certain circumstances, on the Termination Date, such Termination Securities will be forfeited pursuant to the terms of the agreement governing the grant or purchase of such Termination Securities.
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Repurchase Rights upon Termination. If a Participant ceases providing services to the Company in his or her capacity as an employee, a non-employee member of the Board or a consultant or independent advisor for any reason, the Company shall have the right to purchase shares of Common Stock issued to the Participant pursuant to this Award for the Fair Market Value of the Common Stock on the date that the right of repurchase arises. The Company may exercise the rights described in this Paragraph 8 by (i) giving notice of exercise to the Participant in person or by mail within 90 days of the later of (A) the date of termination of service or (B) six months after the Participant has acquired the Common Stock subject to this right of repurchase, and (ii) delivering the purchase price within 30 days of providing notice of intent to exercise the right of repurchase. This right of repurchase shall expire at the time that a common class of equity securities of the Company becomes publicly traded on a recognized exchange or automated trading system.
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Repurchase Rights upon Termination. If a Participant ceases providing services to the Company in his or her capacity as an employee, a non-employee member of the Board or a consultant or independent advisor for any reason, the Company shall have the right to purchase shares of Common Stock issued to the Participant pursuant to this Award for the Fair Market Value of the Common Stock on the date that the right of repurchase arises; provided, however, if the Participant’s services are terminated for reason of “Cause,” the purchase price shall be $100 for all shares issued hereunder. The Company may exercise the rights described in this Paragraph 8 by (i) giving notice of exercise to the Participant in person or by mail within 90 days of the later of (A) the date of termination of service or (B) six months after the Participant has acquired the Common Stock subject to this right of repurchase, and (ii) delivering the purchase price within 30 days of providing notice of intent to exercise the right of repurchase. This right of repurchase shall expire at the time that a common class of equity securities of the Company becomes publicly traded on a recognized exchange or automated trading system.
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Repurchase Rights upon Termination. (a) Upon any Management Shareholder who is an employee of the Company or any of its Subsidiaries (the entity employing such Management Shareholder, the “Employer”) ceasing to be employed by any of the Company or any of its Subsidiaries (a “Terminated Management Shareholder”) for any reason (the reason for the cessation or termination of such employment, the “Termination Event” and the effective date of such termination, the “Termination Date”), subject to applicable law and the provisions of this Article 5, the Company shall have the right (but not the obligation) to purchase, and if such right is exercised, such Terminated Management Shareholder shall sell, and shall cause any Permitted Transferees of such Terminated Management Shareholder to sell (and such Permitted Transferees shall sell), to the Company all or any portion (as determined by the Company) of the Termination Securities owned by such Terminated Management Shareholder and such Permitted Transferees at a price per Termination Security equal to the Termination Price therefor (determined pursuant to Section 5.02 below).
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Related to Repurchase Rights upon Termination

  • Rights Upon Termination Except as expressly provided in Section 6, upon the termination of the Executive’s Employment pursuant to this Section 5, the Executive shall only be entitled to the compensation, benefits and reimbursements described in Sections 2, 3 and 4 for the period preceding the effective date of the termination. The payments under this Agreement shall fully discharge all responsibilities of the Company to the Executive.

  • Actions Upon Termination Upon the termination of this Agreement, Issuer shall remove all references to any ODB Name, Branding and Content from the Issuer Site or Issuer Content and terminate all links on the Issuer Site to any ODB Site. ODB shall remove all references to Issuer Name, Branding and Content and terminate all links on the ODB Site to any Issuer Site. Each Party shall promptly return all Confidential Information, documents, manuals and other materials stored in any form or media (including but not limited to electronic copies) belonging to the other Party, except as may be otherwise provided in this Agreement or required by Law.

  • 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.

  • Events Upon Termination Upon the expiration or termination of this Agreement for any reason, both parties shall immediately remove all links to the other party's Content and website(s) and cease all use of the other party's Marks and any and all use of any kind whatsoever of the other party's Content.

  • Benefits Upon Termination If the Executive’s employment by the Company is terminated during the Period of Employment for any reason by the Company or by the Executive, or upon or following the expiration of the Period of Employment (in any case, the date that the Executive’s employment by the Company terminates is referred to as the “Severance Date”), the Company shall have no further obligation to make or provide to the Executive, and the Executive shall have no further right to receive or obtain from the Company, any payments or benefits except as follows:

  • 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.

  • Deliveries Upon Termination Upon termination of this Agreement, ALPS agrees to cooperate in the orderly transfer of distribution duties and shall deliver to the Fund or as otherwise directed by the Fund (at the expense of the Fund) all records and other documents made or accumulated in the performance of its duties for the Fund hereunder. In the event ALPS gives notice of termination under this Agreement, it will continue to provide the services contemplated hereunder after such termination at the contractual rate for up to 120 days, provided that the Fund uses all reasonable commercial efforts to appoint such replacement on a timely basis.

  • Surrender Upon Termination The Executive agrees that in the event of the termination of the Executive's employment for any reason, whether before or after the Term, the Executive will immediately deliver to the Company all property belonging to the Company, including documents and materials of any nature pertaining to the Executive's work with the Company, and will not take with the Executive any documents or materials of any description, or any reproduction thereof of any description, containing or pertaining to any Confidential Information. It is understood that the Executive is free to use information that is in the public domain, but not as a result of a breach of this Agreement.

  • Payment Upon Termination Termination of this Agreement shall not affect the right of the Adviser to receive payment on any unpaid balance of the compensation described in Section 2 earned prior to such termination.

  • Rights and Payments Upon Termination The Executive’s right to compensation and benefits for periods after the date on which his employment with the Company terminates for whatever reason (the “Termination Date”), shall be determined in accordance with this Section 6 as follows:

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