Executive's Family definition

Executive's Family means the Executive's parents, spouse and children and "significant" shall mean ownership of more than five (5%) of a corporation, partnership or other entity. During the Term, the Executive shall be under a continuing obligation to revise Schedule A to insure that the representations and warranties contained in Section 11(c) are true and correct as if made every day subsequent to the date hereof.
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Examples of Executive's Family in a sentence

  • The restrictions in this Section 4 will not apply with respect to (i) transfers of shares of Executive Stock pursuant to applicable laws of descent and distribution or (ii) transfer of shares of Executive Stock among Executive's Family Group; provided that such restrictions will continue to be applicable to the Executive Stock after any such transfer and the transferees of such Executive Stock have agreed in writing to be bound by the provisions of this Agreement.

  • Executive shall not, directly or indirectly, Transfer any interest in any securities of MCS except pursuant to applicable laws of descent and distribution or among Executive and Executive's Family Members; provided that such restriction will continue to be applicable to any securities of MCS after any such Transfer and the transferees of such securities of MCS have agreed in writing to be bound by the provisions of this Agreement.

  • Notwithstanding the foregoing, the restrictions contained in this Section 4 will not apply with respect to (i) Transfers of shares of Executive Securities pursuant to applicable laws of descent and distribution or (ii) Transfer of shares of Executive Securities among Executive's Family Group; provided that in each case such restrictions will continue to be applicable to the Executive Securities irrespective of any such Transfer.

  • The restrictions contained in this Section 1.4 shall not apply with respect to any Transfer of Executive Units pursuant to applicable laws of descent and distribution or among such Executive and such Executive's Family Members; provided that such restrictions will continue to be applicable to the Executive Units after any such Transfer and the transferees of such Executive Units have agreed in writing to be bound by the provisions of this Agreement.

  • The restrictions contained in this Section 4 will not apply with respect to (i) transfers of shares of Repurchasable Stock pursuant to applicable laws of descent and distribution or (ii) transfers of shares of Repurchasable Stock among Executive's Family Group; provided that such restrictions will continue to be applicable to the Repurchasable Stock after any such transfer and the transferees of such Repurchasable Stock will have agreed in writing to be bound by the provisions of this Agreement.

  • The restrictions contained in this paragraph 4 will not apply with respect to (i) transfers of shares of Executive Stock pursuant to applicable laws of descent and distribution or (ii) transfers of shares of Executive Stock among Executive's Family Group; provided that such restrictions will continue to be applicable to the Executive Stock after any such transfer and the transferees of such Executive Stock have agreed in writing to be bound by the provisions of this Agreement.

  • The restrictions contained in this paragraph 4 will not apply with respect to (i) transfers of shares of Executive Stock pursuant to applicable laws of descent and distribution or (ii) transfer of shares of Executive Stock among Executive's Family Group; provided that such restrictions will continue to be applicable to the Executive Stock after any 7 such transfer and the transferees of such Executive Stock have agreed in writing to be bound by the provisions of this Agreement.

  • The restrictions contained in this paragraph ------------------- 6 shall not apply with respect to any Transfer of Executive Stock pursuant to applicable laws of descent and distribution or among such Executive and such Executive's Family Members; provided that such restrictions will continue to be applicable to the Executive Stock after any such transfer and the transferees of such Executive Stock have agreed in writing to be bound by the provisions of this Agreement.

  • In the event that Executive's employment is terminated as a result of death or Disability, Executive shall not be entitled to the benefits provided in this Section 3 however, the Executive and/or the Executive's Family shall be entitled to receive benefits at least equal to the most favorable benefits provided by the Corporation under such plans, programs and policies relating to death and/or disability benefits as in effect at any time during the 90-day period immediately preceding the Termination Date.

  • The restrictions contained in this --------------------------- Section 4 will not apply with respect to (i) Transfers of shares of Stock pursuant to applicable laws of descent and distribution or (ii) Transfers of shares of Stock among Executive's Family Group; provided that such restrictions will continue to be applicable to the Stock after any such Transfer and the transferees of such Stock have agreed in writing to be bound by the provisions of this Agreement.