Common use of Termination Other than for Cause or Voluntary Termination Clause in Contracts

Termination Other than for Cause or Voluntary Termination. If Executive is no longer employed by the Company or any of its subsidiaries as a result of Executive's death or permanent disability (as determined by the Board in its good faith judgment) or Executive's termination by the Company or any of its subsidiaries without Cause, then on or after the Termination Date, the Company may elect to purchase all or any portion of the Executive Units at a price per Unit equal to the Fair Market Value thereof (x) as determined on the Termination Date, if the Repurchase Notice (as defined in paragraph (d) below) has been delivered within three months after the Termination Date, or (y) as determined as of a date determined by the Board within thirty (30) days prior to the delivery of the Repurchase Notice, if the Repurchase Notice is delivered after the third month following the Termination Date.

Appears in 11 contracts

Samples: Executive Unit Repurchase Agreement (Alliance Laundry Systems LLC), Executive Unit Repurchase Agreement (Alliance Laundry Systems LLC), Executive Unit Repurchase Agreement (Alliance Laundry Systems LLC)

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Termination Other than for Cause or Voluntary Termination. If Executive is no longer employed by the Company or any of its subsidiaries Subsidiaries as a result of Executive's death or permanent disability (as determined by the Board in its good faith judgment) voluntary termination, Executive's termination without Cause, or Executive's termination by the Company death or any of its subsidiaries without CauseDisability, then on or after the Termination Date, the Company may elect to purchase all or any portion of the Executive Units Stock at a price per Unit share equal to the Fair Market Value thereof (xi) as determined on the Termination Date, if the Repurchase Notice (as defined in paragraph subparagraph (de) below) has been delivered within three months after of the Termination Date, or (yii) as determined as of on a date determined by the Board within thirty (30) 30 days prior to the delivery of the Repurchase Notice, if the Repurchase Notice is delivered after the third month following the Termination Date.

Appears in 3 contracts

Samples: Stock Option Agreement (Nutraceutical International Corp), Stock Option Agreement (Nutraceutical International Corp), Stock Option Agreement (Nutraceutical International Corp)

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