Common use of Company’s Repurchase Right Clause in Contracts

Company’s Repurchase Right. (a) In the event that Purchaser voluntarily terminates his relationship with the Company (or a parent or subsidiary of the Company), whether as an employee, director or consultant, and the Co-Founders do not purchase all of Purchaser's unvested Stock pursuant to the Co-Founders' Option under Section 2 above within the period set forth therein, the Company shall then have the right, exercisable upon written notice to Purchaser within thirty (30) days after the expiration of the Co-Founders' Option, to purchase all or a portion of the Stock which has not vested pursuant to Section 4 below as of such termination date (less shares purchased by the Co-Founders pursuant to Section 2 above), at a purchase price of $.047 per share. (b) In the event the Company terminates Purchaser's relationship with the Company (or a parent or subsidiary of the Company), whether as an employee, director or consultant, for Cause (as defined below), then the Company shall have an option for a period of ninety (90) days after said termination to repurchase from Purchaser, at a purchase price of $.047 per share, up to but not exceeding the number of shares of Stock which have not vested under the provisions of Section 4 below as of such termination date.

Company’s Repurchase Right. (a) In the event that Purchaser voluntarily terminates his relationship with the Company (or a parent or subsidiary of the Company), whether as an employee, director or consultant, and the Co-Founders do not purchase all of Purchaser's unvested Stock pursuant to the Co-Founders' Option under Section 2 above within the period set forth therein, the Company shall then have the right, exercisable upon written notice to Purchaser within thirty (30) days after the expiration of the Co-Founders' Option, to purchase all or a portion of the Stock which has not vested pursuant to Section 4 below as of such termination date (less shares purchased by the Co-Founders pursuant to Section 2 above), at a purchase price of $.047 .07 per share. (b) In the event the Company terminates Purchaser's relationship with the Company (or a parent or subsidiary of the Company), whether as an employee, director or consultant, for Cause (as defined below), then the Company shall have an option for a period of ninety (90) days after said termination to repurchase from Purchaser, at a purchase price of $.047 .07 per share, up to but not exceeding the number of shares of Stock which have not vested under the provisions of Section 4 below as of such termination date.

Company’s Repurchase Right. (a) In the event that Purchaser voluntarily terminates his relationship with the Company (or a parent or subsidiary of the Company), whether as an employee, director or consultant, and the Co-Founders do not purchase all of Purchaser's unvested Stock pursuant to the Co-Founders' Option under Section 2 above within the period set forth therein, the Company shall then have the right, exercisable upon written notice to Purchaser within thirty (30) days after the expiration of the Co-Founders' Option, to purchase all or a portion of the Stock which has not vested pursuant to Section 4 below as of such termination date (less shares purchased by the Co-Founders pursuant to Section 2 above), at a purchase price of $.047 .25 per share. (b) In the event the Company terminates Purchaser's relationship with the Company (or a parent or subsidiary of the Company), whether as an employee, director or consultant, for Cause (as defined below), then the Company shall have an option for a period of ninety (90) days after said termination to repurchase from Purchaser, at a purchase price of $.047 .25 per share, up to but not exceeding the number of shares of Stock which have not vested under the provisions of Section 4 below as of such termination date.