Terminated Shareholder definition

Terminated Shareholder shall have the meaning set forth in Section 6.2.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Terminated Shareholder has the meaning set out in Section 3.3(a);

Terminated Shareholder means the Shareholder whose employment or consulting arrangement with the Corporation has been terminated with the result that such Shareholder no longer is employed by or in a consulting arrangement with the Corporation and the Termination Right of First Refusal is triggered.

Examples of Terminated Shareholder in a sentence

If said parties are unable to come to an agreement within ninety (90) days after such death, disability or termination from employment, the value of each share of the Deceased, Disabled or Terminated Shareholder shall be determined by appraisal.
The Terminated Shareholder shall be entitled to receive the $1.00 amount deposited in the trust account upon satisfying its obligations under this Agreement.
Any such removal and/or termination set forth herein shall be effective immediately upon written notice to the Terminated Shareholder specifying in reasonable detail the reason therefore, provided, that if the reason for termination for Cause is susceptible of cure, the Terminated Shareholder shall have a period of fifteen (15) days after such prior written notice to effect a cure.
If the Terminated Shareholder does duly reject the Company Appraiser and designate an Terminated Shareholder Appraiser, then within thirty (30) days following the Terminated Shareholder Rejection Notice, the two appraisers shall determine and state in writing signed by them their opinion of the value of the Call Shares.
The Company shall select a "Qualified Appraiser" that is unaffiliated with the Company (the "Company Appraiser"), and give written notice of the name, address and other reasonable identification of the Company Appraiser to Terminated Shareholder (the "Company Appraiser Notice"), within thirty (30) days after the expiration of the Call Price Agreement Period.
The Closing of the purchase and sale of the Call Shares pursuant to this Section 7 shall take place at the principal place of business of the Company no later than fifteen (15) days after the date the Call Price is determined as provided in Section 7.2, unless the Company and the Terminated Shareholder mutually agree on a different place or time.
The price for the Common Stock of a Terminated Shareholder shall be equal to (a) the price based on such shares’ pro rata portion of the then-effective Valuation times (b) 0.5.
Upon removal and/or termination of the Terminated Shareholder for Cause, except for any agreement by the Company to repurchase the Terminated Shareholder’s Common Stock in the Company pursuant to Section 8.2, the Company and Remaining Shareholders shall have no further obligations or liabilities under this Agreement or the Terminated Shareholder’s employment except as required by law.
If the Terminated Shareholder does not duly reject the Company Appraiser, then the value of the Call Shares as determined in the written opinion of the Company Appraiser shall be binding on the Company and the Terminated Shareholder for purposes of this Section 7.
Signed opinions of the value of the Call Shares by all appraisers shall be promptly delivered to both the Company and the Terminated Shareholder.

More Definitions of Terminated Shareholder

Terminated Shareholder has the meaning set out in Section 7.2(a).

Terminated Shareholder has the meaning set forth in Section 2.09(b).

Terminated Shareholder means a Holder who is no longer employed by the Corporation or any Statoil Entity.

Terminated Shareholder shall have the meaning set forth in Section 6.2. “Transfer” means any sale, transfer, assignment (other than a contingent assignment for the benefit of creditors), exchange, or other disposition of an interest (whether with or without consideration, whether voluntarily or involuntarily or by operation of Law). The terms “Transferee,” “Transferor,” “Transferred,” and other forms of the word “Transfer” shall have the correlative meanings. A Transfer shall also include the entering into of any financial instrument or contract the value of which is determined by reference to the Company’s Membership Interests (including the amount of the Company’s distributions, the value of the Company’s assets or the results of the Company’s operations).

Terminated Shareholder means a Holder whose employment with the Corporation has terminated.