Vested Securities Clause Samples
Vested Securities. With regard to any Vested Securities:
(i) If a Repurchase Event occurs after the Effective Date as a result of Executive's termination by the Company or its Subsidiaries; (A) without Cause or (B) as a result of Executive's voluntary resignation, the Repurchase Price for any Vested Securities shall be the Fair Market Value of such Vested Securities.
(ii) If a Repurchase Event occurs as a result of Executive's termination by the Company or its Subsidiaries for Cause at any time, the Repurchase Price for all Vested Securities then owned by Executive shall be $0.01 in the aggregate. As used in this Agreement, the term "Cause" shall be as defined in the Employment Agreement.
Vested Securities. Vested Securities" means shares of Parent Common Stock, Parent Options or Milestone Warrants which are vested pursuant to the vesting schedule set forth in Section 1.9 as of the relevant time.