Common use of Repurchase of Vested Shares Clause in Contracts

Repurchase of Vested Shares. (a) Upon any termination of your employment with or service (whether as a consultant, advisor, director or in any other capacity) to the Company, a subsidiary of the Company or an Affiliate for any reason (and for purposes of this Agreement, while you are an employee of the Company, a subsidiary of the Company or an Affiliate or are providing services to the Company, a subsidiary of the Company or an Affiliate as a consultant, advisor, director or another type of service provider, you will be considered to be in “Service” or providing “Services”), including retirement but other than death or disability, the Company will be entitled (in its sole and absolute discretion) to repurchase, at the Company’s election, all or any of the Vested Shares received hereunder (the “Repurchase Option”). If the Company elects to exercise the Repurchase Option with respect to your Vested Shares, it shall deliver written notice (the “Repurchase Notice”) to you to such effect within 90 days after the occurrence of the event giving rise to the Repurchase Option.