Common use of Employee Shares Clause in Contracts

Employee Shares. Unless otherwise approved by the Board, all future advisors, employees and consultants of the Company who purchase, receive options to purchase, or receive awards of shares in the capital of the Company after the date hereof shall be required to execute restricted share or option agreements, as applicable, providing for (a) vesting of shares or options (as the case may be) over a four year period, with the first 25% of such shares or options (as applicable) vesting on the first anniversary of continued employment or service, and the remaining shares or options (as applicable) vesting in equal monthly installments over the following three years, and (b) the execution and delivery of adoption agreements to the Shareholder Agreements in form and substance satisfactory to the Company as a condition precedent to such employee or consultant becoming a shareholder of the Company. In addition, unless otherwise approved by the Board, the Company shall retain a "right of first refusal" on employee transfers of shares in the capital of the Company until the Company's IPO and shall have the right to repurchase unvested shares at cost upon the cessation of employment or service of a holder of restricted shares.

Employee Shares. Unless otherwise approved by the Board, all future advisors, employees and consultants of the Company who purchase, receive options to purchase, or receive awards of shares in the capital of the Company after the date hereof shall be required to execute restricted share or option agreements, as applicable, providing for (ai) vesting of shares or options (as the case may be) over a four four-year year period, with the first 25% of such shares or options (as applicable) vesting on the first anniversary following one full year of continued employment or service, and the remaining shares or options (as applicable) vesting in equal monthly installments instalments over the following three years, and (bii) the execution and delivery of adoption agreements to the Shareholder Agreements in form and substance satisfactory to the Company as a condition precedent to such employee or consultant becoming a shareholder of the Company. In addition, unless otherwise approved by the Board, the Company shall retain a "“right of first refusal" ” on employee transfers of shares in the capital of the Company until the Company's ’s IPO and shall have the right to repurchase unvested shares at cost upon the cessation of employment or service of a holder of restricted shares.

Employee Shares. Unless otherwise approved by the Board, all future advisors, employees and consultants of the Company who purchase, receive options to purchase, or receive awards of shares in the capital of the Company after the date hereof shall be required to execute restricted share or option agreements, as applicable, providing for (a) vesting of shares or options (as the case may be) over a four year period, with the first 25% of such shares or options (as applicable) vesting on the first /on each anniversary of continued employment or service, and the remaining shares or options (as applicable) vesting in equal monthly installments over the following three years, and (b) the execution and delivery of adoption agreements to the Shareholder Agreements in form and substance satisfactory to the Company as a condition precedent to such employee or consultant becoming a shareholder of the Company. In addition, unless otherwise approved by the Board, the Company shall retain a "“right of first refusal" ” on employee transfers of shares in the capital of the Company until the Company's ’s IPO and shall have the right to repurchase unvested shares at cost upon the cessation of employment or service of a holder of restricted shares.