Lapse of Right. The Repurchase Right shall terminate with respect to any Unvested Shares for which it is not timely exercised under Section 5.2 above. In addition, the Repurchase Right shall terminate with respect to any and all Shares in which the Stockholder vests (i) in accordance with the schedules set forth in Section 5.3(b) and Section 5.3(c) below or (ii) pursuant to any applicable vesting acceleration event as provided in Section 5.6 below. Accordingly, provided the Stockholder continues to be a Service Provider to the Company, the Stockholder shall acquire a vested interest in, and the Repurchase Right shall lapse with respect to, the Shares in accordance with the vesting schedules set forth in Section 5.3(b) and Section 5.3(c) below (and, as applicable, the accelerated vesting provisions of Section 5.6 below).
Appears in 6 contracts
Samples: Restricted Stock Issuance Agreement (Receptos, Inc.), Restricted Stock Issuance Agreement (Receptos, Inc.), Restricted Stock Issuance Agreement (Receptos, Inc.)
