Examples of Excess Price in a sentence
Except as otherwise provided herein, the closing of each purchase and sale of shares of Stock and the payment of the Option Excess Price, if any, pursuant to this Agreement shall take place at the principal office of the Company on the tenth business day following delivery of the notice by either Party to the other of its exercise of the right to purchase or sell such Stock hereunder or to cause the payment of the Option Excess Price, if any.
If the Option Excess Price is zero or a negative number, all outstanding Options granted to the Optionholder, whether or not then exercisable, shall be automatically terminated upon the repurchase of any Option Shares pursuant to Section 7 or Section 8.
All Options exercisable as of the date of a Repurchase Notice, in the case of a repurchase pursuant to Section 6(b), 6(c) or 6(d), shall continue to be exercisable until the repurchase of such Options pursuant to such Call Notice, provided that to the extent that any Options are exercised after the date of such Call Notice, the number of Exercisable Option Shares for purposes of calculating the Option Excess Price shall be reduced accordingly.
For purposes hereof, "Exercisable Option Shares" shall mean the shares of Common Stock which, at the time of determination of the Option Excess Price, could be purchased by the Purchaser upon exercise of the Purchaser's outstanding Pre-Five Options.
All outstanding Pre-Five Options granted to the Purchaser under the Option Plan or otherwise, whether or not then exercisable, will be automatically terminated upon the payment by the Company to the Purchaser, pursuant to the provisions of Sections 5 or 6 of this Agreement, of an amount equal to the Option Excess Price.