English to Romanian Law/Patents Law (general)

The concept of good leaver/bad leaver is often introduced to determine what price should be paid for those shares. The usual position is that a good leaver will receive market value for his shares and a bad leaver will receive the lesser of market value or nominal value, although many variations can be negotiated. The following are examples of circumstances in which a departing employee shareholder may be described as being a “bad leaver”:
breaching his contract of employment
leaving the company voluntarily
misconduct or repudiation of his contract of employment giving the company the right to terminate.

A “good leaver” is usually defined simply as somebody who is not a “bad leaver” and typically includes those who have ceased to be employees of the company because they are permanently incapacitated or have been constructively or unfairly dismissed.