Repurchase Rights Upon Termination of Employment Sample Clauses

Repurchase Rights Upon Termination of Employment. The Grantee acknowledges and agrees that any Subscription Agreement shall contain certain rights of the Company to repurchase all or any portion of the Exercise Shares upon termination of the Grantee’s employment and thereafter.
Sample 1
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Repurchase Rights Upon Termination of Employment. 7.1.1 If, prior to the date of a Qualified Public Offering, Optionee’s Service with the Company terminates for any reason, then at any time thereafter the Company shall have the right to repurchase the shares of Stock received pursuant to this Agreement at a per share price equal to the Repurchase Price, as defined below (the “Repurchase Right”). The Repurchase Right shall be exercisable upon written notice to a Participant indicating the number of shares of Stock to be repurchased and the date on which the repurchase is to be effected, such date to be not more than thirty days after the date of such notice. The certificates representing the shares of Stock to be repurchased shall be delivered to the Company prior to the close of business on the date specified for the repurchase.
Sample 1
Repurchase Rights Upon Termination of Employment. (a) Upon the termination, for any reason, of Committee membership of any Manager Unitholder or the termination of employment of any Employee Unitholder, consultant or other service provider who holds Units, the Company (or its Designee), or Whitney VI, if the Company (or its Designee) declines to so purchase, shall have the right to purchase, and to require such Unitholder and any Assignee of such Unitholder (such Unitholder and any Assignee thereof, collectively, the “Terminated Party”) to sell to the Company (or its Designee) and/or Whitney VI, as the case may be, up to all of the vested Common Units and Preferred Units (the “Repurchase Units”) held by such Terminated Party as of the Termination Date (as defined below). The Company shall deliver written notice to Whitney VI of such termination within 30 calendar days after the date such Unitholder’s membership, employment or service, as applicable, is so terminated (the “Termination Date”), which notice shall specify, in reasonable detail, (i) the Termination Date, (ii) the circumstances of such termination, (iii) the number and class of Repurchase Units then held by the Terminated Party, (iv) the number of Repurchase Units then held by the Terminated Party that the Company (or its Designee) elects to purchase hereunder and (v) the purchase price per Repurchase Unit payable under this Section 3.5(a), as determined in clause (b) below. Whitney VI shall have the right to exercise its rights under this Section 3.5 as to any or all Repurchase Units held by the Terminated Party that the Company (or its Designee) has the right to purchase hereunder but that the Company (or its Designee) does not ultimately purchase. The Company (or its Designee) and/or Whitney VI, as the case may be, may exercise such right by delivering written notice (a “Repurchase Notice”) at any time during the 12 month period commencing on the date that is six months and one day after the Termination Date and ending on the date that (is eighteen months after the Termination Date (provided, that if an Employee Unitholder violates any of the Restrictive Covenants then, in addition, at any time within 90 days after the Company becomes aware of such violation, which may result in multiple repurchase windows) (the “Repurchase Period”). During such Repurchase Period, a Terminated Party shall be prohibited from otherwise Transferring any Repurchase Units then owned by a Terminated Party without the prior written consent of the Company and Whitne...
Sample 1
Repurchase Rights Upon Termination of Employment. In the event that the Optionee ceases to be employed by the Company or any of its Subsidiaries and the Optionee exercises all or any portion of his Options, the Company shall have the following rights with respect to any Option Shares:
Sample 1
Repurchase Rights Upon Termination of Employment. (a) In the event that Executive unilaterally leaves the employment of the Company (or any affiliated company) prior to February 23, 2001, or in the event that Executive's employment with the Company is terminated, the Company (or any affiliated company) shall have the irrevocable right and option to purchase from Executive, or Executive's successors or assigns, that number of shares of the Company's capital stock (or the capital stock of any affiliated company into which the Company's capital stock is converted) then owned by Executive or such successors or assigns; provided, however, that the repurchase right under this Section 9, shall not apply to the 90,000 shares of the Company's Common Stock, and the 80,640 shares of the Company's 1990 Preferred Stock currently owned by Executive; and, provided, further, that the Company's right hereunder shall be subordinate to any right which Jamex X. Xxxxxxx ("Xeoples") has to purchase shares of the common stock of the Company from Executive ("Peoples' Right to Repurchase") and any right of first refusal ("Peoples' Rights of First Refusal") pursuant to that certain Shareholder Agreement, dated February 23, 1990, between Executive and Peoples.
Sample 1

Related to Repurchase Rights 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.

  • 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:

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

  • 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:

  • 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:

  • 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:

  • Rights in Event of Termination of Employment Absent Change in Control (a) In the event that Executive's employment is involuntarily terminated by HMS without Cause and no Change in Control shall have occurred as of the date of such termination, upon execution of a mutual release, HMS will provide Executive with the following pay and benefits: (i) a payment in an amount equal to the greater of: that portion of the Executive’s Agreed Compensation for the then existing Employment Period that has not been paid to Executive as of the date his employment terminates, or 1.0 times the Executive’s Agreed Compensation. Such amount shall be payable in twelve (12) equal monthly installments; and (ii) subject to plan terms, Executive’s continued participation in HMS's employee benefit plans for twelve (12) months or until Executive secures substantially similar benefits through other employment, whichever shall first occur. If Executive is no longer eligible to participate in an employee benefit plan because he is no longer an employee, HMS will pay Executive the amount of money that it would have cost HMS to provide the benefits to Executive. However, in the payments described herein, when added to all other amounts or benefits provided to or on behalf of the Executive in connection with his termination of employment, would result in the imposition of an excise tax under Code Section 4999, such payments shall be retroactively (if necessary) reduced to the extent necessary to avoid such imposition. Upon written notice to Executive, together with calculations of HMS's independent auditors, Executive shall remit to HMS the amount of the reduction plus such interest as may be necessary to avoid the imposition of such excise tax. Notwithstanding the foregoing or any other provision of this Agreement to the contrary, if any portion of the amount herein payable to the Executive is determined to be non-deductible pursuant to the regulations promulgated under Section 280G of the Code, then HMS shall be required only to pay to Executive the amount determined to be deductible under Section 280G.

  • 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:

  • 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.

  • 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.

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