Common use of Exercise of Lapsing Repurchase Right Clause in Contracts

Exercise of Lapsing Repurchase Right. In the event that the Company (or its designee, as the case may be) exercises the option to acquire any or all of the Restricted Shares as provided in subsection 2(b) above, the Executive (or the Executive’s successor in interest, as the case may be) shall sell to the Company (or its designee, as the case may be), at a price per share equal to $0.001 per share, all of the then Restricted Shares for which the option was appropriately exercised (the “Lapsing Repurchase Right”).

Exercise of Lapsing Repurchase Right. In the event that the Company (or its designee, as the case may be) exercises the option to acquire any or all of the Restricted Shares as provided in subsection 2(b) above, the Executive (or the Executive’s successor in interest, as the case may be) shall sell to the Company (or its designee, as the case may be), at a price per share equal to $0.001 0,001 per share, all of the then Restricted Shares for which the option was appropriately exercised (the “Lapsing Repurchase Right”).