REPURCHASE ON TERMINATION OF EMPLOYMENT OR DEATH WITH RESPECT TO OPTIONS ACCRUED Sample Clauses

REPURCHASE ON TERMINATION OF EMPLOYMENT OR DEATH WITH RESPECT TO OPTIONS ACCRUED. BUT NOT EXERCISED. Upon termination of the Optionee's employment, or upon the Optionee's death giving the Optionee, or the Optionee's legal representative, rights to exercise the Option under either Section 3(e) or 3(f)(ii) hereof, the Corporation shall, within thirty days immediately following the date on which the Corporation learns of the Optionee's death or the date on which the Optionee's employment terminates, give to the Optionee or the Optionee's legal representative, as the case may be, a signed notice in writing, either delivered by hand, or mailed by registered or certified mail, to the Optionee's last known address: (i) stating that the Corporation has the first right to purchase the Common Stock subject to the Option; (ii) designating the number of shares of the Common Stock which the Optionee or the Optionee's legal representative has a right to purchase under the Option and the option price per share under this Agreement; (iii) naming the buy-back price per share in cash which the Optionee or the Optionee's legal representative is obligated to sell the shares subject to the Option, as determined herein; and (iv) stating whether the Corporation will exercise its right to repurchase the Common Stock if the Optionee or the Optionee's legal representative exercised the Option.
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Related to REPURCHASE ON TERMINATION OF EMPLOYMENT OR DEATH WITH RESPECT TO OPTIONS ACCRUED

  • Payments Upon Termination of Employment (a) If Executive's employment with the Company is terminated by reason of:

  • Termination on Death or Disability Upon a termination of employment due to the Executive’s death or Disability, the Company shall have no further liability or further obligation to the Executive except that the Executive (or, if applicable, his estate or designated beneficiaries under any Company-sponsored employee benefit plan in the event of his death) shall be entitled to receive:

  • Company Obligations Upon Termination of Employment Upon any termination of your employment, the Company will pay to you, in a lump sum in cash within 30 days after the date of termination, the sum of (i) your fixed compensation through the date of termination, (ii) any fully earned but unpaid variable compensation through the date of termination, and (iii) any accrued but unpaid vacation (together, the "Accrued Obligations").

  • Termination of Employment Due to Death or Disability If the Executive’s employment is terminated at any time due to his or her death or Disability, this Agreement shall terminate without further obligation by the Company to the Executive, other than the obligation to pay the Accrued Obligations to the Executive or his or her legal representatives.

  • Benefits Upon Termination of Employment If the Executive is entitled to benefits pursuant to this Section 2, the Company agrees to pay or provide to the Executive as severance payment, the following:

  • Compensation Upon Termination of Employment If the Executive’s employment hereunder is terminated, in accordance with the provisions of Article III hereof, and except for any other rights or benefits specifically provided for herein to be effective following the Executive’s period of employment, the Company will provide compensation and benefits to the Executive only as follows:

  • Obligations of the Company Upon Termination of Employment (a) Expiration of Term, By the Company for Cause or by Executive without Good Reason. If Executive's employment shall be terminated:

  • Forfeiture upon Termination of Status as a Service Provider Notwithstanding any contrary provision of this Award Agreement, the balance of the Restricted Stock Units that have not vested as of the time of Participant’s termination as a Service Provider for any or no reason and Participant’s right to acquire any Shares hereunder will immediately terminate.

  • Termination of Employment Due to Death The Officer’s employment with the Bank shall terminate, automatically and without any further action on the part of any party to this Agreement, on the date of the Officer’s death. In such event, the Bank shall pay and deliver to his estate and surviving dependents and beneficiaries, as applicable, the Standard Termination Entitlements.

  • Termination for Death or Disability If the Employee's employment is terminated by death or because of disability pursuant to Section 4.3, the Company shall pay to the estate of the Employee or to the Employee, as the case may be, all sums which would otherwise be payable to the Employee under Section 3 up to the end of the month in which the termination of his employment because of death or disability occurs.

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