Common use of Repurchase in Certain Cases Clause in Contracts

Repurchase in Certain Cases. If Optionee exercises any Options and later terminates his or her employment and within one year thereafter engages in any activities, directly or indirectly, either as a consultant, employee, shareholder, partner or otherwise with any business that competes with the Corporation, Optionee, upon demand of the Corporation at any time thereafter, shall surrender to the Corporation for repurchase, all shares purchased on exercise of Options under this Agreement. The repurchase price, payable in cash, shall be the lesser of the price Optionee paid for the shares or the fair market value of the shares, as determined by the Board in its discretion at the date of repurchase.

Repurchase in Certain Cases. If Optionee exercises any Options and later terminates his or her employment service as a director and within one year thereafter engages in any activities, directly or indirectly, either as a consultant, employee, shareholder, partner or otherwise with any business that competes with the Corporation, Optionee, upon demand of the Corporation at any time thereafter, shall surrender to the Corporation for repurchase, all shares purchased on exercise of Options under this Agreement. The repurchase price, payable in cash, shall be the lesser of the price Optionee paid for the shares or the fair market value of the shares, as determined by the Board in its discretion at the date of repurchase.

Repurchase in Certain Cases. If Optionee exercises any Options and later terminates his or her employment service as a director and within one year thereafter engages in any activities, directly or indirectly, either as a consultant, employee, shareholder, partner or otherwise with any business that competes with the Corporation, Optionee, upon demand of the Corporation at any time thereafter, shall surrender to the Corporation for repurchase, all shares purchased on exercise of Options under this Agreement. The repurchase price, payable in cash, shall be the lesser of the price Optionee paid for the shares or the fair market value of the shares, as determined by the Board in its discretion at the date of repurchase.

Repurchase in Certain Cases. If Optionee exercises any Options and later terminates his or her employment service as a ________ and within one year thereafter engages in any activities, directly or indirectly, either as a consultant, employee, shareholder, partner or otherwise with any business that competes with the Corporation, Optionee, upon demand of the Corporation at any time thereafter, shall surrender to the Corporation for repurchase, all shares purchased on exercise of Options under this Agreement. The repurchase price, payable in cash, shall be the lesser of the price Optionee paid for the shares or the fair market value of the shares, as determined by the Board in its discretion at the date of repurchase.