{"component": "clause", "props": {"groups": [{"size": 5, "snippet_links": [{"key": "employment-with-the-company", "type": "definition", "offset": [48, 75]}, {"key": "following-the", "type": "definition", "offset": [129, 142]}, {"key": "consent-of-the-company", "type": "clause", "offset": [211, 233]}, {"key": "participate-in", "type": "definition", "offset": [235, 249]}, {"key": "the-foregoing", "type": "definition", "offset": [298, 311]}, {"key": "prohibit-the", "type": "clause", "offset": [331, 343]}, {"key": "to-sell", "type": "clause", "offset": [363, 370]}, {"key": "otherwise-dispose-of", "type": "definition", "offset": [406, 426]}, {"key": "shares-of-stock", "type": "definition", "offset": [427, 442]}, {"key": "other-manner", "type": "clause", "offset": [450, 462]}, {"key": "federal-and-state-securities-laws", "type": "definition", "offset": [479, 512]}, {"key": "in-addition", "type": "clause", "offset": [514, 525]}, {"key": "restriction-on", "type": "clause", "offset": [541, 555]}, {"key": "repurchase-requests", "type": "clause", "offset": [600, 619]}, {"key": "in-connection-with", "type": "clause", "offset": [620, 638]}, {"key": "qualifying-disability", "type": "definition", "offset": [657, 678]}, {"key": "determination-of-incompetence", "type": "definition", "offset": [709, 738]}], "snippet": "Grantee hereby agrees that during the period of employment with the Company or its affiliates and for a period of six (6) months following the end of such employment, Grantee will not, without the prior written consent of the Company, participate in the Company\u2019s Share Repurchase Program (\u201cSRP\u201d). The foregoing sentence shall not prohibit the ability of Grantee to sell, pledge, transfer, hypothecate, or otherwise dispose of shares of Stock in any other manner permitted under federal and state securities laws. In addition, the foregoing restriction on participation in the SRP shall not apply to repurchase requests in connection with Grantee\u2019s death, \u201cQualifying Disability\u201d (as defined in the SRP), or \u201cDetermination of Incompetence\u201d (as defined in the SRP).", "samples": [{"hash": "jr5Q3qZKEDG", "uri": "/contracts/jr5Q3qZKEDG#share-repurchase-program", "label": "Restricted Stock Unit Award Agreement (Phillips Edison & Company, Inc.)", "score": 32.5126625599, "published": true}, {"hash": "lSzNPrFg2ys", "uri": "/contracts/lSzNPrFg2ys#share-repurchase-program", "label": "Performance Restricted Stock Unit Award Agreement (Phillips Edison & Company, Inc.)", "score": 31.1930184805, "published": true}, {"hash": "6WoThsWkKiO", "uri": "/contracts/6WoThsWkKiO#share-repurchase-program", "label": "Restricted Stock Unit Award Agreement (Phillips Edison & Company, Inc.)", "score": 31.1930184805, "published": true}], "hash": "3a69e5f98c9412b69de1008019b021a9", "id": 1}, {"size": 4, "snippet_links": [{"key": "repurchase-programs", "type": "clause", "offset": [36, 55]}, {"key": "offers-to-repurchase", "type": "clause", "offset": [59, 79]}, {"key": "with-respect-to", "type": "clause", "offset": [91, 106]}, {"key": "shares-purchased", "type": "definition", "offset": [107, 123]}, {"key": "in-connection-with", "type": "clause", "offset": [176, 194]}, {"key": "death-or-disability", "type": "definition", "offset": [214, 233]}], "snippet": "SIC shall have terminated all share repurchase programs or offers to repurchase other than with respect to shares purchased from SIC shareholders who have requested repurchase in connection with such shareholder\u2019s death or disability.", "samples": [{"hash": "cW6ycKgvU0l", "uri": "/contracts/cW6ycKgvU0l#share-repurchase-program", "label": "Agreement and Plan of Merger (Medley Capital Corp)", "score": 30.582477755, "published": true}, {"hash": "2WmPyvNP4ST", "uri": "/contracts/2WmPyvNP4ST#share-repurchase-program", "label": 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{"key": "as-amended", "type": "definition", "offset": [44, 54]}, {"key": "from-time-to-time", "type": "clause", "offset": [55, 72]}], "snippet": "The Corporation\u2019s share repurchase program, as amended from time to time.", "samples": [{"hash": "R0BIxtl8g1", "uri": "/contracts/R0BIxtl8g1#share-repurchase-program", "label": "Advisory Agreement (StratCap Digital Infrastructure REIT, Inc.)", "score": 36.0773442847, "published": true}, {"hash": "5MN032DA1JL", "uri": "/contracts/5MN032DA1JL#share-repurchase-program", "label": "Advisory Agreement (Strategic Wireless Infrastructure Fund Ii, Inc.)", "score": 35.1163586585, "published": true}, {"hash": "eAjOBsLvY2b", "uri": "/contracts/eAjOBsLvY2b#share-repurchase-program", "label": "Advisory Agreement (Strategic Wireless Infrastructure Fund Ii, Inc.)", "score": 33.2765229295, "published": true}], "hash": "ab441b4af1d30d96c9c31446101507fb", "id": 4}, {"size": 3, "snippet_links": [{"key": "following-the-effective-time", "type": "clause", "offset": [22, 50]}, {"key": "stock-repurchase-program", "type": "definition", "offset": [85, 109]}, {"key": "relating-to", "type": "definition", "offset": [110, 121]}, {"key": "the-repurchase", "type": "clause", "offset": [122, 136]}, {"key": "in-the-aggregate", "type": "definition", "offset": [159, 175]}, {"key": "common-stock", "type": "clause", "offset": [186, 198]}, {"key": "from-time-to-time", "type": "clause", "offset": [199, 216]}, {"key": "market-conditions", "type": "clause", "offset": [252, 269]}, {"key": "rules-and-regulations", "type": "definition", "offset": [294, 315]}, {"key": "the-sec", "type": "definition", "offset": [319, 326]}, {"key": "rule-10b-18", "type": "clause", "offset": [338, 349]}, {"key": "consistent-with", "type": "clause", "offset": [355, 370]}, {"key": "the-agreement", "type": "clause", "offset": [416, 429]}, {"key": "amendment-to-section", "type": "definition", "offset": [435, 455]}, {"key": "the-original-agreement", "type": "clause", "offset": [466, 488]}], "snippet": "Global shall promptly following the Effective Time institute a six-month open-market stock repurchase program relating to the repurchase of up to $500 million in the aggregate of Global Common Stock from time to time, as determined by Global, based on market conditions, in compliance with the rules and regulations of the SEC, including Rule 10b-18, and consistent with Global's obligations under Section 4.2(h) of the Agreement.\n12. Amendment to Section 7.1(g) of the Original Agreement. 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consideration)) ceasing to be at least equal to the Share Percentage Cap at such time, the Company shall repurchase a number of Shares such that, immediately following such New Equity Issuance, the Fully Diluted Aggregate Ownership Percentage of the Investor Group remains at least equal to the Share Percentage Cap at such time; provided that, in the event of a New Equity Issuance by the Company that inadvertently results in the Fully Diluted Aggregate Ownership Interest of the Investor Group (assuming issuance in full of any remaining Permitted Stock Consideration (including payment in full of any contingent consideration)) ceasing to be at least equal to the Share Percentage Cap at such time, the Company shall have a period of 90 days from the date that the Company has knowledge of such inadvertent failure to consummate the repurchases of Shares required by this Section 4.01(a). For the purposes of this Agreement, a \u201cNew Equity Issuance\u201d means, after the Closing, (i) any new issuance of Shares by the Company (other than (x) issuances of Permitted Stock Consideration, (y) Shares issued in accordance with the terms of any Company Securities issued or granted in a New Equity Issuance of the type described in clause (ii) of this definition, or (z) Shares issued upon the exercise or settlement of Company Securities granted under an equity incentive plan that are outstanding as of the Closing) or (ii) the issuance or grant, as the case may be, by the Company of any Company Securities (other than Shares or Permitted Stock Consideration) that are convertible or exercisable into, or exchangeable for, Shares.\n(b) Without limiting the Investor\u2019s rights under Sections 4.03, 4.04 and 4.05, (x) the Company shall not be obligated to repurchase any Shares under the Share Repurchase Program if such repurchase would violate Applicable Law, and (y) if as a result of the application of Applicable Law the Company is not able to repurchase the number of Shares otherwise contemplated by Section 4.01(a), then the Company\u2019s obligations under Section 4.01(a) shall survive until such time as the Company is able to repurchase such Shares under Applicable Law.", "samples": [{"hash": "hDlZXsogcX", "uri": "/contracts/hDlZXsogcX#share-repurchase-program", "label": "Investor Rights Agreement (Foundation Medicine, Inc.)", "score": 26.029431896, "published": true}], "hash": "6741b280a4a1dbb4a4c4a6622ce0a461", "id": 6}, {"size": 2, "snippet_links": [{"key": "the-company-shall", "type": "clause", "offset": [0, 17]}, {"key": "commercially-reasonable-efforts", "type": "definition", "offset": [26, 57]}, {"key": "outstanding-shares-of-common-stock", "type": "definition", "offset": [84, 118]}, {"key": "by-the-board", "type": "clause", "offset": [147, 159]}, {"key": "in-addition-to", "type": "clause", "offset": [286, 300]}, {"key": "the-company-has", "type": "definition", "offset": [335, 350]}, {"key": "prior-to-the", "type": "clause", "offset": [363, 375]}, {"key": "date-hereof", "type": "clause", "offset": [376, 387]}, {"key": "period-from", "type": "definition", "offset": [571, 582]}, {"key": "pursuant-to", "type": "definition", "offset": [694, 705]}, {"key": "this-section-7", "type": "clause", "offset": [706, 720]}, {"key": "compliance-with-all-applicable-laws", "type": "clause", "offset": [736, 771]}, {"key": "including-without-limitation", "type": "clause", "offset": [773, 801]}, {"key": "applicable-securities-laws", "type": "definition", "offset": [806, 832]}, {"key": "contractual-obligations", "type": "clause", "offset": [838, 861]}, {"key": "take-into-account", "type": "definition", "offset": [888, 905]}, {"key": "prevailing-market", "type": "definition", "offset": [906, 923]}], "snippet": "The Company shall utilize commercially reasonable efforts to continue to repurchase outstanding shares of Common Stock up to the amount authorized by the Board (it being understood that the Board has authorized the Company to repurchase approximately 2.6 million shares of Common Stock in addition to those shares of Common Stock that the Company has repurchased prior to the date hereof, and that the Board does not intend to revoke or reduce this authorization), with a goal (but not a requirement) of repurchasing a total of at least two (2) million shares during the period from July 1, 2007 through June 30, 2008, inclusive. The Barington Group acknowledges that the Company\u2019s obligations pursuant to this Section 7 are subject to compliance with all applicable laws (including without limitation all applicable securities laws) and contractual obligations, and that the Company may take into account prevailing market factors in determining whether and when to repurchase any shares of Common Stock.", "samples": [{"hash": "lmdlSNiGp6E", "uri": "/contracts/lmdlSNiGp6E#share-repurchase-program", "label": "Proxy Solicitation Agreement (Barington Companies Equity Partners L P)", "score": 21.0, "published": true}, {"hash": "g2Q9cvIWqNK", "uri": "/contracts/g2Q9cvIWqNK#share-repurchase-program", "label": "Proxy Solicitation Agreement (Lancaster Colony Corp)", "score": 21.0, "published": true}], "hash": "c47af2bdbed3ce7f6c013d50a151121e", "id": 7}, {"size": 2, "snippet_links": [{"key": "during-the-period", "type": "clause", "offset": [22, 39]}, {"key": "providing-services", "type": "clause", "offset": [48, 66]}, {"key": "independent-director", "type": "clause", "offset": [73, 93]}, {"key": "to-the-company", "type": "clause", "offset": [94, 108]}, {"key": "period-of", "type": "definition", "offset": [137, 146]}, {"key": "following-the", "type": "definition", "offset": [162, 175]}, {"key": "consent-of-the-company", "type": "clause", "offset": [237, 259]}, {"key": "participate-in", "type": "definition", "offset": [261, 275]}, {"key": "the-foregoing", "type": "definition", "offset": [324, 337]}, {"key": "to-sell", "type": "clause", "offset": [379, 386]}, {"key": "otherwise-dispose-of", "type": "definition", "offset": [422, 442]}, {"key": "shares-of-common-stock", "type": "clause", "offset": [443, 465]}, {"key": "other-manner", "type": "clause", "offset": [473, 485]}, {"key": "federal-and-state-securities-laws", "type": "definition", "offset": [502, 535]}, {"key": "in-addition", "type": "clause", "offset": [537, 548]}, {"key": "restriction-on", "type": "clause", "offset": [564, 578]}, {"key": "repurchase-requests", "type": "clause", "offset": [623, 642]}, {"key": "in-connection-with", "type": "clause", "offset": [643, 661]}, {"key": "your-death", "type": "clause", "offset": [662, 672]}, {"key": "qualifying-disability", "type": "definition", "offset": [675, 696]}, {"key": "determination-of-incompetence", "type": "definition", "offset": [727, 756]}], "snippet": "You hereby agree that during the period you are providing services as an independent director to the Company or its affiliates and for a period of six (6) months following the end of such service, you will not, without the prior written consent of the Company, participate in the Company\u2019s Share Repurchase Program (\u201cSRP\u201d). The foregoing sentence shall not prohibit your ability to sell, pledge, transfer, hypothecate, or otherwise dispose of shares of Common Stock in any other manner permitted under federal and state securities laws. In addition, the foregoing restriction on participation in the SRP shall not apply to repurchase requests in connection with your death, \u201cQualifying Disability\u201d (as defined in the SRP), or \u201cDetermination of Incompetence\u201d (as defined in the SRP).", "samples": [{"hash": "aLQg7OCXajb", "uri": "/contracts/aLQg7OCXajb#share-repurchase-program", "label": "Restricted Stock Award Agreement (Phillips Edison & Company, Inc.)", "score": 30.5126625599, "published": true}, {"hash": "8SUH9DXjLrU", "uri": "/contracts/8SUH9DXjLrU#share-repurchase-program", "label": "Restricted Stock Award Agreement (Phillips Edison & Company, Inc.)", "score": 29.3600273785, "published": true}], "hash": "ade1aabe88a96f99fdbb94c40fd97cea", "id": 8}, {"size": 2, "snippet_links": [{"key": "board-shall", "type": "definition", "offset": [4, 15]}, {"key": "total-number-of-shares-of-common-stock", "type": "clause", "offset": [66, 104]}, {"key": "the-company-agrees-to", "type": "clause", "offset": [213, 234]}, {"key": "reasonable-best-efforts", "type": "definition", "offset": [243, 266]}, {"key": "by-august", "type": "clause", "offset": [313, 322]}, {"key": "compliance-with-all-applicable-laws", "type": "clause", "offset": [343, 378]}, {"key": "without-limitation", "type": "clause", "offset": [391, 409]}, {"key": "applicable-securities-laws", "type": "definition", "offset": [411, 437]}, {"key": "prevailing-market", "type": "definition", "offset": [460, 477]}, {"key": "relevant-capital", "type": "definition", "offset": [501, 517]}, {"key": "company-in", "type": "clause", "offset": [540, 550]}, {"key": "repurchase-shares", "type": "definition", "offset": [611, 628]}], "snippet": "The Board shall take such action as is necessary to authorize the total number of shares of Common Stock authorized for repurchase under the Company\u2019s share repurchase program to be increased to five (5) million. The Company agrees to use its reasonable best efforts to repurchase at least two (2) million shares by August 31, 2008 subject to compliance with all applicable laws (including, without limitation, applicable securities laws), taking into account prevailing market factors and materially relevant capital considerations of the Company in determining the advisability of when and in what amounts to repurchase shares of Common Stock.", "samples": [{"hash": "gWmeTobzve5", "uri": "/contracts/gWmeTobzve5#share-repurchase-program", "label": "Proxy Solicitation Agreement (Barington Companies Equity Partners L P)", "score": 19.0, "published": true}, {"hash": "98O6fujkLiL", "uri": "/contracts/98O6fujkLiL#share-repurchase-program", "label": "Proxy Solicitation Agreement (Schulman a Inc)", "score": 19.0, "published": true}], "hash": "a83aa1c722f057c064f00aba78ec99c4", "id": 9}, {"size": 2, "snippet_links": [{"key": "the-company-agrees", "type": "clause", "offset": [0, 18]}, {"key": "board-meeting", "type": "definition", "offset": [49, 62]}, {"key": "reconstituted-board", "type": "definition", "offset": [72, 91]}, {"key": "accelerated-share-repurchase", "type": "definition", "offset": [108, 136]}, {"key": "as-soon-as-possible", "type": "definition", "offset": [154, 173]}, {"key": "date-of-this-agreement", "type": "definition", "offset": [184, 206]}, {"key": "share-repurchases", "type": "definition", "offset": [214, 231]}, {"key": "available-under", "type": "clause", "offset": [275, 290]}, {"key": "date-hereof", "type": "clause", "offset": [375, 386]}], "snippet": "The Company agrees that it shall promptly call a Board meeting with the reconstituted Board to implement an accelerated share repurchase program starting as soon as possible after the date of this Agreement, which share repurchases shall be no less than the amount remaining available under its May 2014 share repurchase authorization, which the Company represents as of the date hereof is approximately $40,000,000.", "samples": [{"hash": "jv76EnWWOeu", "uri": "/contracts/jv76EnWWOeu#share-repurchase-program", "label": "Settlement Agreement (Sandell Asset Management Corp)", "score": 24.7467488022, "published": true}, {"hash": "hR3oAn02sI9", "uri": "/contracts/hR3oAn02sI9#share-repurchase-program", "label": "Settlement Agreement (Viavi Solutions Inc.)", "score": 24.7467488022, "published": true}], "hash": "1e0d986052b60e68446689b8d6cea0ad", "id": 10}], "next_curs": "CmESW2oVc35sYXdpbnNpZGVyY29udHJhY3Rzcj0LEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IiFzaGFyZS1yZXB1cmNoYXNlLXByb2dyYW0jMDAwMDAwMGEMogECZW4YACAA", "clause": {"size": 42, "parents": [["conditions-to-obligations-of-mcc", "Conditions to Obligations of MCC"], ["other-matters", "Other Matters"], ["conditions-precedent", "Conditions Precedent"], ["anti-dilution-rights", "Anti Dilution Rights"], ["additional-covenants", "Additional Covenants"]], "children": [], "title": "Share Repurchase Program", "id": "share-repurchase-program", "related": [["issuance-and-repurchase-of-shares", "Issuance and Repurchase of Shares", "Issuance and Repurchase of Shares"], ["counterparty-share-repurchases", "Counterparty Share Repurchases", "Counterparty Share Repurchases"], ["termination-of-the-repurchase-right", "Termination of the Repurchase Right", "Termination of the Repurchase Right"], ["sale-and-repurchase-of-shares", "Sale and Repurchase of Shares", "Sale and Repurchase of Shares"], ["exercise-of-repurchase-right", "Exercise of Repurchase Right", "Exercise of Repurchase Right"]], "related_snippets": [], "updated": "2025-07-07T16:38:45+00:00", "also_ask": [], "drafting_tip": null, "explanation": "A Share Repurchase Program clause authorizes a company to buy back its own shares from the market or shareholders. This clause typically outlines the maximum number of shares that can be repurchased, the time frame for the program, and the methods by which the repurchases may occur, such as open market transactions or private agreements. By enabling the company to reduce the number of outstanding shares, this clause helps manage capital structure, potentially increase share value, and return value to shareholders."}, "json": true, "cursor": ""}}