Share Repurchase Program. The Company shall utilize commercially reasonable efforts to continue to repurchase outstanding shares of Common Stock up to the amount authorized by the Board (it being understood that the Board has authorized the Company to repurchase approximately 2.6 million shares of Common Stock in addition to those shares of Common Stock that the Company has repurchased prior to the date hereof, and that the Board does not intend to revoke or reduce this authorization), with a goal (but not a requirement) of repurchasing a total of at least two (2) million shares during the period from July 1, 2007 through June 30, 2008, inclusive. The Barington Group acknowledges that the Company’s obligations pursuant to this Section 7 are subject to compliance with all applicable laws (including without limitation all applicable securities laws) and contractual obligations, and that the Company may take into account prevailing market factors in determining whether and when to repurchase any shares of Common Stock.
Appears in 2 contracts
Sources: Proxy Solicitation Agreement (Barington Companies Equity Partners L P), Proxy Solicitation Agreement (Lancaster Colony Corp)