Repurchase Option definition

Repurchase Option has the meaning set forth in Section 1.3(a) hereto.

Repurchase Option has the meaning given to such term in Section 2.04 hereof.

Repurchase Option has the meaning set forth in Section 9(a).

Examples of Repurchase Option in a sentence

• Purchaser understands that Purchaser may elect to be taxed at the time the Shares are purchased, rather than when and as the Repurchase Option expires, by filing an election under Section 83(b) (an “83(b) Election”) of the Code with the Internal Revenue Service within 30 days from the date of purchase.

• In addition to the foregoing limitations on transfer, Purchaser shall not assign, encumber or dispose of any interest in the Shares while the Shares are subject to the Company’s Repurchase Option (as defined below).

• Thereafter, 1/48th of the Interest shall vest and be released from the Repurchase Option on each monthly anniversary of the Vesting Commencement Date so that One Hundred Percent (100%) of the Interst shall be released from the Repurchase Option on the fourth (4th) anniversary of the Vesting Commencement Date, in any event, subject to the Member’s continued service to the Company through each such date.

• The Repurchase Option shall be exercised by the Company, if at all, by delivering written notice to the Member or, in the event of the Member’s death, the Member’s executor and, by (i) delivery to the Member or Member’s executor a check in the amount of the Repurchase Price, (ii) by cancellation of indebtedness equal to the Repurchase Price, or (iii) by a combination of (i) and (ii) so that the combined payment and cancellation of indebtedness equals the Repurchase Price.

• On the date one (1) year from the Vesting Commencement Date, set across from each Member's name in Exhibit A, twenty-five percent (25%) of the Interest subject to the Repurchase Option shall vest and be released from the Repurchase Option.

More Definitions of Repurchase Option

Repurchase Option set forth in the Exercise Agreement without requiring additional signatures on the part of the Purchaser or Purchaser's Spouse. EXHIBIT 2 --------- SPOUSE CONSENT -------------- Spouse Consent -------------- The undersigned spouse of ______________________________ (the "Purchaser") has read, understands, and hereby approves the Stock Option Exercise Agreement between Purchaser and the Company (the "Agreement"). In consideration of the Company's granting my spouse the right to purchase the Shares as set forth in the Agreement, the undersigned hereby agrees to be irrevocably bound by the Agreement and further agrees that any community property interest I may have in the Shares shall similarly be bound by the Agreement. The undersigned hereby appoints Purchaser as my attorney-in-fact with respect to any amendment or exercise of any rights under the Agreement. Date: ______________________________ _______________________________________ Print Name of Purchaser's Spouse _______________________________________ Signature of Purchaser's Spouse Address: _______________________________________ _______________________________________ _______________________________________ EXHIBIT 3 --------- COPY OF PURCHASER'S CHECK -------------------------

Repurchase Option has the meaning set forth in Section 4.01(a) (Policy Repurchase Option).

Repurchase Option has the meaning provided in Section 2.4;

Repurchase Option has the meaning given to such term in Section 9.4.

Repurchase Option set forth in the Agreement, the Company shall give to Purchaser and you a written notice specifying the number of shares of stock to be purchased, the purchase price, and the time for a closing hereunder at the principal office of the Company. Purchaser and the Company hereby irrevocably authorize and direct you to close the transaction contemplated by such notice in accordance with the terms of said notice.

Repurchase Option means the Company's right in accordance with Section 12 of this Agreement to repurchase Shares bought under this Agreement.

Repurchase Option has the meaning set forth in Section 5.1.