Stock Repurchase. If the Executive leaves the Company for any reason, the Company shall, at the Executive’s option, repurchase all or part of the shares in the Company owned/controlled by the Executive at book value as determined by an independent third party appraiser. The Company shall pay 50% in a lump sum payment and the rest in 12 monthly installments.
Appears in 6 contracts
Sources: Employment Agreement (Heritage Insurance Holdings, LLC), Employment Agreement (Heritage Insurance Holdings, LLC), Employment Agreement (Heritage Insurance Holdings, LLC)