Common use of Release of Shares From Repurchase Option Clause in Contracts

Release of Shares From Repurchase Option. (a) One thirty-sixth (1/36) of the Shares shall be released from the Repurchase Option on the last day of each full calendar month following January 26, 2001 until all the Shares have been released from the Repurchase Option provided that, except as set forth in the immediately following sentence, in each case that the Founder's services as an employee of or consultant to the Company have not been terminated prior to the date of any such release. In the event that a Termination Event has occurred, all of the Unreleased Shares shall be immediately released from the Company's Repurchase Option. (b) Any of the Shares which have not yet been released from the Repurchase Option are referred to herein as "Unreleased Shares." The Shares which have been released from the Repurchase Option shall be delivered to the Founder at the Founder's request. (c) This Agreement shall not confer upon the Founder any right with respect to continuation of employment by the Company, nor shall it interfere with or affect in any manner the right or power of the Company, or a parent or subsidiary of the Company, to terminate the Founder's employment at any time or for any reason, with or without cause, which right is hereby reserved.

Release of Shares From Repurchase Option. (a) One thirty-sixth (1/36) of the Shares shall be released from the Repurchase Option on the last day of each full calendar month following January 2625, 2001 until all the Shares have been released from the Repurchase Option provided that, except as set forth in the immediately following sentence, in each case that the Founder's services as an employee of or consultant to the Company have not been terminated prior to the date of any such release. In the event that a Termination Event has occurred, all of the Unreleased Shares shall be immediately released from the Company's Repurchase Option. (b) Any of the Shares which have not yet been released from the Repurchase Option are referred to herein as "Unreleased Shares." The Shares which have been released from the Repurchase Option shall be delivered to the Founder at the Founder's request. (c) This Agreement shall not confer upon the Founder any right with respect to continuation of employment by the Company, nor shall it interfere with or affect in any manner the right or power of the Company, or a parent or subsidiary of the Company, to terminate the Founder's employment at any time or for any reason, with or without cause, which right is hereby reserved.

Release of Shares From Repurchase Option. (a) One thirty-sixth (1/36) of the Shares shall be released from the Repurchase Option on the last day of each full calendar month following January 2625, 2001 until all the Shares have been released from the Repurchase Option provided that, except as set forth in the immediately following sentence, in each case that the Founder's services as an employee of or consultant to the Company have not been terminated prior to the date of any such release. In the event that a Termination Event has occurred, all of the Unreleased Shares shall be immediately released from the Company's Repurchase Option. (b) Any of the Shares which have not yet been released from the Repurchase Option are referred to herein as "Unreleased Shares." The Shares which have been released from the Repurchase Option shall be delivered to the Founder at the Founder's request. (c) This Agreement shall not confer upon the Founder any right with respect to continuation of employment by the Company, nor shall it interfere with or affect in any manner the right or power of the Company, or a parent or subsidiary of the Company, to terminate the Founder's employment at any time or for any reason, with or without cause, which right is hereby reserved.