Common use of Termination; Repayment Clause in Contracts

Termination; Repayment. Notwithstanding anything else herein to the contrary, in the event the Optionee’s Termination of Employment occurs not more than three (3) months after the date of exercise of this Option or the Optionee engages in a “competitive activity” (as determined by the Committee, in its sole discretion) after the exercise of this Option, the Optionee shall pay the Company an amount in cash (within ten (10) business days) for each share with respect to which this Option was exercised, equal to the difference between: (a) the Fair Market Value of a share of Common Stock on the date of such Termination or determination, as applicable, and (b) the exercise price paid per share.

Termination; Repayment. Notwithstanding anything else herein to the contrary, in the event the Optionee’s Termination of Employment Directorship occurs not more than three (3) months after the date of exercise of this Option or the Optionee engages in a “competitive activity” (as determined by the Committee, in its sole discretion) after the exercise of this Option, the Optionee shall pay the Company an amount in cash (within ten (10) business days) for each share with respect to which this Option was exercised, equal to the difference between: (a) the Fair Market Value of a share of Common Stock on the date of such Termination or determination, as applicable, and (b) the exercise price paid per share.