Common use of Termination Pricing Clause in Contracts

Termination Pricing. The Termination Price of any Purchased Share shall be determined as follows: 1. If the Termination Event was a resignation by the Grantee with Good Reason or termination of the employment of the Grantee by the Company or any of its Subsidiaries without Cause, the Termination Price for such Purchased Share shall be the Fair Market Value on the FMV Calculation Date, 2. if the Termination Event was as a result of the death or Disability of the Grantee, the Termination Price for such Purchased Share shall be the Fair Market Value on the Termination Date, and 3. if the Termination Event was a termination of the employment of the Grantee by the Company or any of its Subsidiaries with Cause, or was a resignation by the Grantee without Good Reason, the Termination Price for such Purchased Share shall be the lower of (A) the Fair Market Value on the FMV Calculation Date or (B) the Exercise Price per Share.

Termination Pricing. The Termination Price of any Purchased Settlement Share shall be determined as follows: 1. (i) If the Termination Event was a resignation by the Grantee with Good Reason or termination of the employment of the Grantee by the Company or any of its Subsidiaries without Cause, the Termination Price for such Purchased Settlement Share shall be the Fair Market Value on the FMV Calculation Date, 2. (ii) if the Termination Event was as a result of the death or Disability of the Grantee, the Termination Price for such Purchased Settlement Share shall be the Fair Market Value on the Termination Date, and 3. (iii) if the Termination Event was a termination of the employment of the Grantee by the Company or any of its Subsidiaries with Cause, or was a resignation by the Grantee without Good Reason, the Termination Price for such Purchased Settlement Share shall be the lower of (Ai) the Fair Market Value on the FMV Calculation Date or (Bii) the Exercise Price per Share.