Exercise of Purchase Option and Closing. (a) The Company may exercise the Purchase Option by delivering or mailing to the Participant (or his estate), within 90 days after the termination of the employment of the Participant with the Company, a written notice of exercise of the Purchase Option. Such notice shall specify the number of Shares to be purchased. If and to the extent the Purchase Option is not so exercised by the giving of such a notice within such 90-day period, the Purchase Option shall automatically expire and terminate effective upon the expiration of such 90-day period.
Exercise of Purchase Option and Closing. (a) The Company may exercise the Purchase Option by delivering or mailing to the Participant (or his estate), within 60 days after the Participant ceases to be an Eligible Participant, a written notice of exercise of the Purchase Option (the "Notice of Exercise"). The Notice of Exercise shall specify the number of Shares to be purchased. If and to the extent the Purchase Option is not so exercised by the giving of the Notice of Exercise within such 60-day period, the Purchase Option shall automatically expire and terminate effective upon the expiration of such 60-day period.
Exercise of Purchase Option and Closing. (a) If the Employee ceases to be employed by the Company before the expiration of the Purchase Option, the Company may exercise the Purchase Option by delivering or mailing to the Employee (or his estate), in accordance with Section 14, within 60 days after the termination of the employment of the Employee with the Company, a written notice of exercise of the Purchase Option. Such notice shall specify the number of Shares to be purchased. If and to the extent the Purchase Option is not so exercised by the giving of such a notice within such 60-day period, the Purchase Option shall automatically expire and terminate effective upon the expiration of such 60-day period.
Exercise of Purchase Option and Closing. (a) Unless the Company notifies the Purchaser within sixty (60) days after the termination of the employment of the Participant with the Company (the “Termination Date”) that it does not intend to exercise its Purchase Option with respect to some or all of the Unvested Shares, the Purchase Option shall be deemed automatically exercised by the Company as to all of the Unvested Shares as of the 60th day following the Termination Date, provided, that the Company may notify the Purchaser that it is exercising its Purchase Option as of a date prior to such 60th day. Unless the Purchaser is otherwise notified by the Company pursuant to the preceding sentence that the Company does not intend to exercise its Purchase Option as to some or all of the Unvested Shares to which it applies as of the Termination Date, execution of this Agreement by the Participant constitutes written notice to the Participant of the Company’s intention to exercise its Purchase Option with respect to all Unvested Shares to which such Purchase Option applies. For the avoidance of doubt, if the Company elects to exercise its Purchase Option, as opposed to the Purchase Option being deemed exercised, the Company may exercise the Purchase Option for a portion of the Unvested Shares.
Exercise of Purchase Option and Closing. The Company may exercise the Purchase Option by delivering or mailing to the Participant (or his estate), within 90 days after the termination of the employment of the Participant with the Company, a written notice of exercise of the Purchase Option. Such notice shall specify the number of Shares to be purchased. If and to the extent the Purchase Option is not so exercised by the giving of such a notice within such 90-day period, the Purchase Option shall automatically expire and terminate effective upon the expiration of such 90-day period. Within 10 days after delivery to the Participant of the Company’s notice of the exercise of the Purchase Option pursuant to subsection (a) above, the Participant (or his estate) shall, pursuant to the provisions of the Joint Escrow Instructions referred to in Section 5 below, tender to the Company at its principal offices the certificate or certificates representing the Shares which the Company has elected to purchase in accordance with the terms of this Agreement, duly endorsed in blank or with duly endorsed stock powers attached thereto, all in form suitable for the transfer of such Shares to the Company. Promptly following its receipt of such certificate or certificates, the Company shall pay to the Participant the aggregate Option Price for such Shares (provided that any delay in making such payment shall not invalidate the Company’s exercise of the Purchase Option with respect to such Shares). After the time at which any Shares are required to be delivered to the Company for transfer to the Company pursuant to subsection (b) above, the Company shall not pay any dividend to the Participant on account of such Shares or permit the Participant to exercise any of the privileges or rights of a stockholder with respect to such Shares, but shall, in so far as permitted by law, treat the Company as the owner of such Shares. The Option Price may be payable, at the option of the Company, in cancellation of all or a portion of any outstanding indebtedness of the Participant to the Company or in cash (by check) or both. The Company shall not purchase any fraction of a Share upon exercise of the Purchase Option, and any fraction of a Share resulting from a computation made pursuant to Section 2 of this Agreement shall be rounded to the nearest whole Share (with any one-half Share being rounded upward). The Company may assign its Purchase Option to one or more persons or entities.
Exercise of Purchase Option and Closing. (a) The Company may exercise the Purchase Option by delivering or mailing to the Escrow Agent pursuant to and as required by the Escrow Agreement, dated as the date hereof, by and among the Company, Xxxxxxxx, Xxxxxxx & Xxxxxxx, PC, as Agent, and the Participants signatory thereto (the "Escrow Agreement"), within sixty (60) days after the termination of the employment of the Employee with the Company, a written notice of exercise of the Purchase Option. Such notice shall specify the number of Shares to be purchased. If and to the extent the Purchase Option is not so exercised by the giving of such a notice within such 60 day period, the Purchase Option shall automatically expire and terminate effective upon the expiration of such 60 day period.
Exercise of Purchase Option and Closing. (a) The Company may exercise the Purchase Option under Section 2(a) by delivering or mailing to the Participant (or his or her estate) a written notice of exercise, within 90 days after the date on which the Participant ceases to be a director of the Company (regardless of the deadlines specified in Section 2(c)). The Company may exercise the Purchase Option under Section 2(b) by delivering or mailing to the Participant prior to the date of the first annual meeting of stockholders of the Company (or any special meeting held in lieu of such annual meeting) to occur after the date of this Agreement, a written notice of exercise of the Purchase Option. Any notice to exercise the Purchase Option under Section 2(a) or 2(b) shall specify the number of Shares to be purchased. If and to the extent the Purchase Option under Section 2(a) or 2(b) is not so exercised by the giving of such a notice, the Purchase Option shall automatically expire and terminate.
Exercise of Purchase Option and Closing. (a) The price for which the Company may repurchase Shares pursuant to Section 2 shall be $0.001 per Share (the “Option Price”).
Exercise of Purchase Option and Closing. (a) PERITUS or its designee may exercise the Purchase Option, if at all, only by delivering or mailing to the Personal Representative, in accordance with Section 9, below, a written notice of exercise of the Purchase Option within sixty (60) days after the appointment of such Personal Representative by a court of competent jurisdiction. Such notice shall specify the purchase price per share and the number of shares to be purchased from the said Personal Representative and from each other party, if any, from whom any of the Chan Stock is to be purchased. If PERITUS fails for any reason to furnish within the required sixty (60) day period such written notice to any party holding any of the Chan Stock, all of PERITUS' rights hereunder with respect to any such stock held by such party shall thereupon lapse and have no further force or effect.
Exercise of Purchase Option and Closing. (a) Unless the Company notifies the Participant within 60 days from the Termination Date that it does not intend to exercise its Purchase Option with respect to some or all of the Unvested Shares, the Purchase Option shall be deemed automatically exercised by the Company as of the 60th day following such termination, provided that the Company may exercise the Purchase Option by delivering or mailing to the Participant (or his estate), within 60 days after the Termination Date, a written notice of exercise of the Purchase Option. Such notice shall specify the number of Shares to be purchased. Unless the Participant is otherwise notified by the Company pursuant to the preceding sentences that the Company does not intend to exercise its Purchase Option as to some or all of the Unvested Shares to which it applies at the time of termination, execution of this Agreement by the Participant constitutes written notice to the Participant of the Company’s intention to exercise its Purchase Option with respect to all Unvested Shares to which such Purchase Option applies.
