Unforeseen Personal Hardship. If the Employee, prior to a Public Offering and still in the employment of the Company, experiences financial hardship arising from (i) extraordinary medical expenses or other expenses directly related to illness or disability of the Employee, a member of the Employee’s immediate family or one of the Employee’s parents or (ii) payments necessary or required to prevent the eviction of the Employee from the Employee’s principal residence or foreclosure on the mortgage on that residence, the Board will carefully consider any request by the Employee that the Company repurchase the Employee’s Shares at the Initial Purchase Price, but the Company shall have no obligation to do so.
Appears in 2 contracts
Samples: Stock Subscription Agreement (Servicemaster Co), Stock Subscription Agreement (Servicemaster Co)
Unforeseen Personal Hardship. If the Employee, prior to a Public Offering and still in the employment of the Company, experiences financial hardship arising from (i) extraordinary medical expenses or other expenses directly related to illness or disability of the Employee, a member of the Employee’s immediate family or one of the Employee’s parents or (ii) payments necessary or required to prevent the eviction of the Employee from the Employee’s principal residence or foreclosure on the mortgage on that residence, the Board will carefully consider any request by the Employee that the Company repurchase the Employee’s Shares at the Initial Purchase Price, but the Company shall have no obligation to do so.
Appears in 2 contracts
Samples: Employee Stock Subscription Agreement (Servicemaster Co), Employee Stock Subscription Agreement (Servicemaster Co)
