{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "a-service-provider", "type": "definition", "offset": [29, 47]}, {"key": "for-any-reason", "type": "clause", "offset": [62, 76]}, {"key": "for-cause", "type": "clause", "offset": [88, 97]}, {"key": "the-company-shall", "type": "clause", "offset": [122, 139]}, {"key": "the-right", "type": "clause", "offset": [145, 154]}, {"key": "option-to-purchase", "type": "definition", "offset": [159, 177]}, {"key": "personal-representative", "type": "clause", "offset": [209, 232]}, {"key": "the-case", "type": "definition", "offset": [237, 245]}, {"key": "of-the-purchaser", "type": "clause", "offset": [258, 274]}, {"key": "unvested-shares", "type": "definition", "offset": [277, 292]}, {"key": "the-price", "type": "clause", "offset": [331, 340]}, {"key": "by-the-purchaser", "type": "clause", "offset": [346, 362]}, {"key": "registered-mail", "type": "definition", "offset": [529, 544]}, {"key": "to-purchaser", "type": "clause", "offset": [546, 558]}, {"key": "legal-representative", "type": "clause", "offset": [581, 601]}, {"key": "the-termination", "type": "clause", "offset": [651, 666]}, {"key": "notice-in-writing", "type": "clause", "offset": [670, 687]}, {"key": "to-exercise", "type": "clause", "offset": [723, 734]}, {"key": "the-repurchase-option", "type": "clause", "offset": [735, 756]}, {"key": "at-the-closing", "type": "definition", "offset": [913, 927]}, {"key": "the-holder", "type": "clause", "offset": [929, 939]}, {"key": "certificates-for-the", "type": "clause", "offset": [947, 967]}, {"key": "stock-certificate", "type": "clause", "offset": [1020, 1037]}, {"key": "and-the-company", "type": "clause", "offset": [1086, 1101]}, {"key": "the-purchase-price", "type": "clause", "offset": [1116, 1134]}, {"key": "payment-for-the", "type": "clause", "offset": [1194, 1209]}, {"key": "a-bank", "type": "clause", "offset": [1229, 1235]}, {"key": "by-the-company", "type": "clause", "offset": [1245, 1259]}, {"key": "address-of-the-bank", "type": "clause", "offset": [1364, 1383]}, {"key": "date-of-closing", "type": "definition", "offset": [1385, 1400]}, {"key": "requisite-notice", "type": "definition", "offset": [1549, 1565]}, {"key": "following-the", "type": "definition", "offset": [1590, 1603]}, {"key": "in-accordance-with", "type": "clause", "offset": [1698, 1716]}, {"key": "vesting-schedule", "type": "clause", "offset": [1721, 1737]}, {"key": "contained-in", "type": "definition", "offset": [1738, 1750]}, {"key": "option-agreement", "type": "clause", "offset": [1762, 1778]}], "snippet": "(a) If Purchaser's status as a Service Provider is terminated for any reason, including for cause, death, and Disability, the Company shall have the right and option to purchase from Purchaser, or Purchaser's personal representative, as the case may be, all of the Purchaser's Unvested Shares as of the date of such termination at the price paid by the Purchaser for such Shares (the \"Repurchase Option\").\n(b) Upon the occurrence of such termination, the Company may exercise its Repurchase Option by delivering personally or by registered mail, to Purchaser (or his transferee or legal representative, as the case may be), within ninety (90) days of the termination, a notice in writing indicating the Company's intention to exercise the Repurchase Option and setting forth a date for closing not later than thirty (30) days from the mailing of such notice. The closing shall take place at the Company's office. At the closing, the holder of the certificates for the Unvested Shares being transferred shall deliver the stock certificate or certificates evidencing the Unvested Shares, and the Company shall deliver the purchase price therefor.\n(c) At its option, the Company may elect to make payment for the Unvested Shares to a bank selected by the Company. The Company shall avail itself of this option by a notice in writing to Purchaser stating the name and address of the bank, date of closing, and waiving the closing at the Company's office.\n(d) If the Company does not elect to exercise the Repurchase Option conferred above by giving the requisite notice within ninety (90) days following the termination, the Repurchase Option shall terminate.\n(e) The Repurchase Option shall terminate in accordance with the vesting schedule contained in Optionee's Option Agreement.", "size": 104, "samples": [{"hash": "bdFae3ySrwK", "uri": "/contracts/bdFae3ySrwK#repurchase-option", "label": "Executive Employment Agreement (Imarx Therapeutics Inc)", "score": 18.0, "published": true}, {"hash": "agXobfTUzkZ", "uri": "/contracts/agXobfTUzkZ#repurchase-option", "label": "Stock Option Agreement (PMC Sierra Inc)", "score": 18.0, "published": true}, {"hash": "7Hgv5KAgjCg", "uri": "/contracts/7Hgv5KAgjCg#repurchase-option", "label": "Executive Employment Agreement (Imarx Therapeutics Inc)", "score": 18.0, "published": true}], "hash": "b0e30eb4313072673c0e7c997a378b70", "id": 2}, {"snippet_links": [{"key": "employed-by-the-company", "type": "definition", "offset": [40, 63]}, {"key": "for-any-reason", "type": "clause", "offset": [107, 121]}, {"key": "unvested-shares", "type": "definition", "offset": [146, 161]}, {"key": "by-executive", "type": "clause", "offset": [176, 188]}, {"key": "subject-to", "type": "clause", "offset": [264, 274]}, {"key": "each-case", "type": "definition", "offset": [290, 299]}, {"key": "the-investors", "type": "definition", "offset": [319, 332]}, {"key": "the-terms-and-conditions", "type": "definition", "offset": [345, 369]}, {"key": "section-3", "type": "clause", "offset": [388, 397]}, {"key": "company-may-assign", "type": "clause", "offset": [429, 447]}, {"key": "repurchase-rights", "type": "definition", "offset": [452, 469]}, {"key": "any-person", "type": "clause", "offset": [501, 511]}, {"key": "in-the-event-of-a", "type": "clause", "offset": [517, 534]}, {"key": "purchase-price-for", "type": "clause", "offset": [550, 568]}, {"key": "lesser-of", "type": "definition", "offset": [601, 610]}, {"key": "original-cost", "type": "clause", "offset": [627, 640]}, {"key": "the-carried", "type": "clause", "offset": [645, 656]}, {"key": "in-respect-of", "type": "definition", "offset": [665, 678]}, {"key": "to-executive", "type": "clause", "offset": [707, 719]}, {"key": "the-fair-market-value", "type": "clause", "offset": [729, 750]}, {"key": "date-of", "type": "clause", "offset": [775, 782]}, {"key": "repurchase-notice", "type": "definition", "offset": [787, 804]}, {"key": "the-board", "type": "clause", "offset": [826, 835]}, {"key": "written-notice", "type": "definition", "offset": [914, 928]}, {"key": "holders-of", "type": "clause", "offset": [972, 982]}, {"key": "days-after", "type": "definition", "offset": [1022, 1032]}, {"key": "the-separation", "type": "clause", "offset": [1033, 1047]}, {"key": "shares-to-be-acquired", "type": "clause", "offset": [1109, 1130]}, {"key": "consideration-to-be-paid", "type": "clause", "offset": [1163, 1187]}, {"key": "time-and-place", "type": "clause", "offset": [1221, 1235]}, {"key": "the-closing-of-the-transaction", "type": "clause", "offset": [1240, 1270]}, {"key": "the-company-shall", "type": "clause", "offset": [1323, 1340]}, {"key": "to-the-extent", "type": "clause", "offset": [1360, 1373]}, {"key": "delivery-of-the", "type": "clause", "offset": [1441, 1456]}, {"key": "total-number-of", "type": "definition", "offset": [1549, 1564]}, {"key": "the-company-has", "type": "clause", "offset": [1587, 1602]}, {"key": "this-agreement", "type": "clause", "offset": [1755, 1769]}, {"key": "pro-rata", "type": "clause", "offset": [1771, 1779]}, {"key": "according-to", "type": "definition", "offset": [1780, 1792]}, {"key": "other-holders", "type": "clause", "offset": [2062, 2075]}, {"key": "shares-to-be-purchased", "type": "clause", "offset": [2149, 2171]}], "snippet": "(a) In the event Executive ceases to be employed by the Company, Employer or their respective Subsidiaries for any reason (the \u201cSeparation\u201d), the Unvested Shares (whether held by Executive or one or more of Executive\u2019s transferees, other than the Company) will be subject to repurchase, in each case by the Company and the Investors pursuant to the terms and conditions set forth in this Section 3 (the \u201cRepurchase Option\u201d). The Company may assign its repurchase rights set forth in this Section 3 to any Person.\n(b) In the event of a Separation the purchase price for each Unvested Share will be the lesser of (i) Executive\u2019s Original Cost for the Carried Unit(s) in respect of which such Share was issued to Executive and (ii) the Fair Market Value of such Share as of the date of the Repurchase Notice (defined below).\n(c) The Board may elect to purchase all or any portion of the Unvested Shares by delivering written notice (the \u201cRepurchase Notice\u201d) to the holder or holders of the Unvested Shares within ninety (90) days after the Separation. The Repurchase Notice will set forth the number of Unvested Shares to be acquired from each holder, the aggregate consideration to be paid for such Unvested Shares and the time and place for the closing of the transaction. The number of Unvested Shares to be repurchased by the Company shall first be satisfied to the extent possible from the Unvested Shares held by Executive at the time of delivery of the Repurchase Notice. If the number of Unvested Shares then held by Executive is less than the total number of Unvested Shares which the Company has elected to purchase, the Company shall purchase the remaining Unvested Shares elected to be purchased from the other holder(s) of Unvested Shares under this Agreement, pro rata according to the number of Unvested Shares held by such other holder(s) at the time of delivery of such Repurchase Notice (determined as nearly as practicable to the nearest share). The number of Unvested Shares to be repurchased hereunder will be allocated among Executive and the other holders of Unvested Shares (if any) pro rata according to the number of Unvested Shares to be purchased from such Person.", "size": 688, "samples": [{"hash": "lzT0I0PwuhJ", "uri": "/contracts/lzT0I0PwuhJ#repurchase-option", "label": "Senior Management Agreement (Syniverse Technologies Inc)", "score": 21.0, "published": true}, {"hash": "lxNPvCoArbU", "uri": "/contracts/lxNPvCoArbU#repurchase-option", "label": "Senior Management Agreement (Syniverse Technologies Inc)", "score": 21.0, "published": true}, {"hash": "kpo4AJe96c8", "uri": "/contracts/kpo4AJe96c8#repurchase-option", "label": "Senior Management Agreement (Syniverse Holdings Inc)", "score": 21.0, "published": true}], "hash": "0ce2b15e0ee8a4706092ad2972026485", "id": 1}, {"snippet_links": [{"key": "in-the-event-of-a", "type": "clause", "offset": [4, 21]}, {"key": "by-executive", "type": "clause", "offset": [104, 116]}, {"key": "the-investors", "type": "definition", "offset": [187, 200]}, {"key": "each-case", "type": "definition", "offset": [236, 245]}, {"key": "by-the-company", "type": "clause", "offset": [246, 260]}, {"key": "the-terms-and-conditions", "type": "definition", "offset": [291, 315]}, {"key": "section-3", "type": "clause", "offset": [334, 343]}, {"key": "section-5", "type": "definition", "offset": [351, 360]}, {"key": "subsidiary-public-offering", "type": "clause", "offset": [402, 428]}, {"key": "the-securities", "type": "definition", "offset": [433, 447]}, {"key": "members-of-the-company", "type": "definition", "offset": [490, 512]}, {"key": "for-purposes-of-this-section", "type": "clause", "offset": [566, 594]}, {"key": "approval-of-the-board", "type": "definition", "offset": [736, 757]}, {"key": "in-the-case", "type": "clause", "offset": [758, 769]}, {"key": "vested-units", "type": "definition", "offset": [952, 964]}, {"key": "subject-to-section", "type": "clause", "offset": [966, 984]}, {"key": "written-notice", "type": "definition", "offset": [1088, 1102]}, {"key": "company-repurchase-notice", "type": "definition", "offset": [1107, 1132]}, {"key": "holders-of", "type": "clause", "offset": [1152, 1162]}, {"key": "period-of", "type": "clause", "offset": [1188, 1197]}, {"key": "days-after", "type": "definition", "offset": [1201, 1211]}, {"key": "the-separation-date", "type": "clause", "offset": [1212, 1231]}, {"key": "option-period", "type": "clause", "offset": [1260, 1273]}, {"key": "provided-that", "type": "definition", "offset": [1277, 1290]}, {"key": "prior-to-the", "type": "clause", "offset": [1342, 1354]}, {"key": "date-hereof", "type": "clause", "offset": [1388, 1399]}, {"key": "purposes-of-this-agreement", "type": "clause", "offset": [1413, 1439]}, {"key": "number-of-units", "type": "clause", "offset": [1662, 1677]}, {"key": "consideration-to-be-paid", "type": "clause", "offset": [1739, 1763]}, {"key": "the-closing-of-the-transaction", "type": "clause", "offset": [1806, 1836]}, {"key": "for-any-reason", "type": "clause", "offset": [1845, 1859]}, {"key": "to-exercise", "type": "clause", "offset": [1998, 2009]}, {"key": "the-company-has", "type": "clause", "offset": [2106, 2121]}, {"key": "available-securities", "type": "clause", "offset": [2330, 2350]}, {"key": "as-soon-as-practicable", "type": "definition", "offset": [2354, 2376]}, {"key": "after-the-company", "type": "definition", "offset": [2377, 2394]}, {"key": "days-prior", "type": "definition", "offset": [2527, 2537]}, {"key": "the-applicable", "type": "clause", "offset": [2559, 2573]}, {"key": "the-company-shall", "type": "clause", "offset": [2600, 2617]}, {"key": "option-notice", "type": "definition", "offset": [2643, 2656]}, {"key": "purchase-price-for", "type": "clause", "offset": [2771, 2789]}, {"key": "type-of", "type": "definition", "offset": [2795, 2802]}, {"key": "securities-by", "type": "definition", "offset": [3123, 3136]}, {"key": "notice-to-the-company", "type": "clause", "offset": [3152, 3173]}, {"key": "after-receiving", "type": "clause", "offset": [3189, 3204]}, {"key": "the-option", "type": "clause", "offset": [3205, 3215]}, {"key": "aggregate-number", "type": "definition", "offset": [3272, 3288]}, {"key": "a-class", "type": "definition", "offset": [3316, 3323]}, {"key": "securities-to-be-purchased", "type": "clause", "offset": [3417, 3443]}, {"key": "such-investor", "type": "clause", "offset": [3452, 3465]}, {"key": "class-a-common-units", "type": "definition", "offset": [3531, 3551]}, {"key": "by-each-investor", "type": "clause", "offset": [3558, 3574]}, {"key": "day-period", "type": "clause", "offset": [3690, 3700]}, {"key": "the-aggregate-purchase-price", "type": "clause", "offset": [3858, 3886]}, {"key": "time-and-place-of-the-closing", "type": "clause", "offset": [3895, 3924]}, {"key": "investor-repurchase-notice", "type": "definition", "offset": [3950, 3976]}, {"key": "at-the-time", "type": "clause", "offset": [3980, 3991]}, {"key": "purchase-of-the-purchased-securities", "type": "clause", "offset": [4346, 4382]}, {"key": "exercise-of-the-repurchase-option", "type": "clause", "offset": [4398, 4431]}, {"key": "company-in", "type": "clause", "offset": [4492, 4502]}, {"key": "applicable-company", "type": "definition", "offset": [4507, 4525]}, {"key": "applicable-investor", "type": "definition", "offset": [4551, 4570]}, {"key": "more-than-30-days", "type": "clause", "offset": [4614, 4631]}, {"key": "delivery-of-the", "type": "clause", "offset": [4677, 4692]}, {"key": "immediately-available-funds", "type": "clause", "offset": [4999, 5026]}, {"key": "to-receive", "type": "definition", "offset": [5075, 5085]}, {"key": "representations-and-warranties-with-respect-to", "type": "clause", "offset": [5096, 5142]}, {"key": "the-sellers", "type": "clause", "offset": [5173, 5184]}, {"key": "provisions-of-this-section", "type": "clause", "offset": [5214, 5240]}, {"key": "consummation-of", "type": "clause", "offset": [5351, 5366]}, {"key": "qualified-public-offering", "type": "clause", "offset": [5369, 5394]}, {"key": "sale-of-the-company", "type": "clause", "offset": [5468, 5487]}], "snippet": "(a) In the event of a Separation, the Purchased Securities (whether vested or unvested and whether held by Executive or one or more of Executive\u2019s transferees, other than the Company and the Investors) will be subject to repurchase, in each case by the Company and the Investors pursuant to the terms and conditions set forth in this Section 3 and in Section 5 (the \u201cRepurchase Option\u201d). If there is a Subsidiary Public Offering and the securities of such Subsidiary are distributed to the members of the Company, then such Subsidiary will be treated as the Company for purposes of this Section 3 and Section 5 with respect to any repurchase of the securities of such Subsidiary.\n(b) In the event of a Separation, the Company (with the approval of the Board in the case of any repurchase in excess of $100,000) may irrevocably elect to purchase all, but not less than all, of the Unvested Founder Common Units and/or all, but not less than all, of the Vested Units (subject to Section 5(b), other than Immature Vested Units, if any) pursuant to this Section 3 and Section 5 by delivering written notice (a \u201cCompany Repurchase Notice\u201d) to the holder or holders of such securities within a period of 90 days after the Separation Date (such period, a \u201cRepurchase Option Period\u201d); provided that the Company may not exercise the Repurchase Option prior to the date that is 18 months after the date hereof and, for all purposes of this Agreement, if the Separation Date occurs prior to such date, the Repurchase Option Period shall instead be a period of 90-days after the date that is 18 months after the date hereof. Any Company Repurchase Notice will set forth the number of units of each class to be acquired from each holder, the aggregate consideration to be paid for such units and the time and place for the closing of the transaction.\n(c) If for any reason the Company does not elect to purchase all of the Purchased Securities pursuant to the Repurchase Option, the Investors shall be entitled to exercise the Repurchase Option for all, but not less than all, of the Unvested Founder Common Units that the Company has not elected to purchase and/or all, but not less than all, of the Vested Units (subject to Section 5(b), other than Immature Vested Units, if any) that the Company has not elected to purchase (collectively, \u201cAvailable Securities\u201d). As soon as practicable after the Company has determined that it will not exercise the Repurchase Option with respect to the Available Securities, but in any event within 20 days prior to the expiration of the applicable Repurchase Option Period, the Company shall give written notice (an \u201cOption Notice\u201d) to the Investors setting forth the number of units of each class the Investors are entitled to purchase and the purchase price for each type of the Available Securities. The Investors may irrevocably elect to purchase all, but not less than all, of the Unvested Founder Common Units that are Available Securities and/or all, but not less than all, of the Vested Units (subject to Section 5(b), other than Immature Vested Units, if any), if any, that are Available Securities by giving written notice to the Company within 20 days after receiving the Option Notice. If more than one Investor elects to purchase an aggregate number of Available Securities of a class or type greater than the number of Available Securities of such class or type, the Available Securities to be purchased by each such Investor shall be allocated among such Investors based upon the number of Class A Common Units owned by each Investor. If the Investors have elected to purchase any Available Securities, within 10 days after the expiration of the 20-day period set forth above, the Company shall notify each holder of Purchased Securities as to the number of units of each class each Investor is entitled to purchase, the aggregate purchase price and the time and place of the closing of the transaction (the \u201cInvestor Repurchase Notice\u201d). At the time the Company delivers the Investor Repurchase Notice to the holder(s) of Purchased Securities, the Company shall also deliver written notice to each Investor setting forth the number of units of each class such Investor is entitled to purchase, the aggregate purchase price and the time and place of the closing of the transaction.\n(d) The closing of the purchase of the Purchased Securities pursuant to an exercise of the Repurchase Option shall take place on the later of the date designated by the Company in the applicable Company Repurchase Notice or the applicable Investor Repurchase Notice, which date shall not be more than 30 days nor less than 15 days after the later of the delivery of the applicable Company Repurchase Notice or the applicable Investor Repurchase Notice, as applicable. The Company and each Investor, as the case may be, will pay the purchase price for the Purchased Securities to be purchased by it pursuant to the Repurchase Option by check(s) or wire transfer(s) of good and immediately available funds. The Company and the Investors will be entitled to receive customary representations and warranties with respect to title and enforceability from the sellers regarding such sale.\n(e) The provisions of this Section 3 will terminate with respect to all Purchased Securities (other than Unvested Founder Common Units) upon the consummation of a Qualified Public Offering, and with respect to all Purchased Securities upon the consummation of a Sale of the Company.", "size": 93, "samples": [{"hash": "aNsom1VA38B", "uri": "/contracts/aNsom1VA38B#repurchase-option", "label": "Management Unit Purchase Agreement (VWR Funding, Inc.)", "score": 21.0, "published": true}], "hash": "2ac7b870ad55da01d3c7af4f362d532b", "id": 3}, {"snippet_links": [{"key": "in-the-event", "type": "clause", "offset": [4, 16]}, {"key": "at-any-time", "type": "clause", "offset": [38, 49]}, {"key": "relationship-with-the-company", "type": "clause", "offset": [107, 136]}, {"key": "parent-company", "type": "clause", "offset": 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"pacific-time", "type": "definition", "offset": [980, 992]}, {"key": "day-of", "type": "clause", "offset": [1005, 1011]}, {"key": "in-writing", "type": "definition", "offset": [1059, 1069]}, {"key": "to-exercise", "type": "clause", "offset": [1070, 1081]}, {"key": "notwithstanding-the", "type": "definition", "offset": [1167, 1186]}, {"key": "time-and-date", "type": "definition", "offset": [1349, 1362]}, {"key": "duration-of", "type": "clause", "offset": [1383, 1394]}, {"key": "automatic-exercise", "type": "clause", "offset": [1435, 1453]}, {"key": "violation-of-applicable-law", "type": "clause", "offset": [1472, 1499]}, {"key": "including-without-limitation", "type": "clause", "offset": [1501, 1529]}, {"key": "section-160", "type": "definition", "offset": [1530, 1541]}, {"key": "delaware-general-corporation-law", "type": "definition", "offset": [1549, 1581]}, {"key": "prior-to-the", "type": "clause", "offset": [1877, 1889]}, {"key": "days-after", "type": "definition", "offset": [2155, 2165]}, {"key": "deemed-exercise", "type": "definition", "offset": [2195, 2210]}, {"key": "the-escrow-agent", "type": "definition", "offset": [2237, 2253]}, {"key": "payment-of-the", "type": "clause", "offset": [2296, 2310]}, {"key": "aggregate-repurchase-price", "type": "definition", "offset": [2311, 2337]}, {"key": "purchaser-a", "type": "definition", "offset": [2431, 2442]}, {"key": "indebtedness-of", "type": "definition", "offset": [2525, 2540]}, {"key": "to-the-company", "type": "definition", "offset": [2551, 2565]}, {"key": "equal-to", "type": "definition", "offset": [2566, 2574]}, {"key": "cancellation-of-indebtedness", "type": "clause", "offset": [2680, 2708]}, {"key": "the-payment", "type": "clause", "offset": [2766, 2777]}, {"key": "legal-and-beneficial-owner", "type": "clause", "offset": [2877, 2903]}, {"key": "rights-and-interests", "type": "definition", "offset": [2961, 2981]}, {"key": "and-the-company", "type": "clause", "offset": [2991, 3006]}, {"key": "transfer-to", "type": "clause", "offset": [3042, 3053]}, {"key": "number-of", "type": "definition", "offset": [3071, 3080]}, {"key": "by-the-company", "type": "clause", "offset": [3115, 3129]}, {"key": "of-the-company", "type": "clause", "offset": [3217, 3231]}, {"key": "exercise-of-the-repurchase-option", "type": "clause", "offset": [3406, 3439]}, {"key": "additional-period", "type": "definition", "offset": [3454, 3471]}, {"key": "in-accordance-with", "type": "clause", "offset": [3472, 3490]}, {"key": "sole-remedy", "type": "definition", "offset": [3518, 3529]}, {"key": "company-in", "type": "clause", "offset": [3614, 3624]}, {"key": "in-no-case", "type": "clause", "offset": [3700, 3710]}, {"key": "notice-from-the-company", "type": "clause", "offset": [3860, 3883]}, {"key": "right-of-purchaser", "type": "clause", "offset": [3958, 3976]}, {"key": "this-agreement", "type": "clause", "offset": [3983, 3997]}, {"key": "right-to-receive", "type": "clause", "offset": [4011, 4027]}, {"key": "no-right", "type": "clause", "offset": [4134, 4142]}], "snippet": "(i) In the event that Purchaser shall at any time cease to have an employment, consulting or other service relationship with the Company (or any successor or its parent company) for any reason (the date of such termination being the \u201cTermination Date \u201c). the Company shall have the right (the \u201cRepurchase Option \u201c). for a period of 90 days from such Termination Date (the \u201cOption Period\u201d), to repurchase any or all of the Shares that have not yet been released from the Repurchase Option pursuant to Section 3(b) (the \u201cUnvested Shares\u201d) at a repurchase price per Share in cash of $1.41 (the \u201cRepurchase Price\u201d). The Company may exercise its Repurchase Option as to any or all of the Unvested Shares at any time during the Option Period by written notice to Purchaser: provided, however, that without requirement of further action on the part of either party hereto, the Repurchase Option shall be deemed to have been automatically exercised as to all Unvested Shares at 5:00 p.m. Pacific time on the last day of the Option Period, unless the Company declines in writing to exercise its Repurchase Option in whole or in part prior to such time; provided further, that notwithstanding the above, the Repurchase Option shall not be deemed to have been automatically exercised, and shall instead be deemed to become temporarily unexercisable as of such time and date and extended by the duration of any such period. in any case where such automatic exercise would result in a violation of applicable law (including without limitation Section 160 of the Delaware General Corporation Law), and the Repurchase Option shall once again be deemed exercisable (or, as provided above, exercised) as soon as a violation of applicable law would not result from its exercise.\n(ii) If the Company determines not to exercise the Repurchase Option in whole or in part, it shall notify Purchaser prior to the end of the Option Period, and the Repurchase Option shall thereupon terminate as to any Unvested Shares for which the Company declined to exercise the Repurchase Option. If the Repurchase Option is exercised or deemed to be exercised, then within five (5) business days after the date of such exercise or deemed exercise, the Company shall notify the Escrow Agent (as defined below) thereof and shall make payment of the aggregate Repurchase Price for the Unvested Shares being repurchased by any of the following methods: (A) delivering to Purchaser a check in the amount of the aggregate Repurchase Price: (B) canceling an amount of indebtedness of Purchaser to the Company equal to the aggregate Repurchase Price; or (C) any combination of (A) and (B) such that the combined payment and cancellation of indebtedness equals such aggregate Repurchase Price. Upon delivery of the payment of the aggregate Repurchase Price in any of the ways described above, the Company shall become the legal and beneficial owner of the Unvested Shares being repurchased and all related rights and interests therein, and the Company shall have the right to retain and transfer to its own name the number of Unvested Shares being repurchased by the Company.\n(iii) If the Company neither notifies Purchaser prior to the end of the Option Period of the Company\u2019s decision not to exercise its Repurchase Option nor delivers payment of the aggregate Repurchase Price to Purchaser within five (5) business days after the actual or deemed exercise of the Repurchase Option (or within an additional period in accordance with Section 3(a)(i)). then the sole remedy of Purchaser thereafter shall be to receive the aggregate Repurchase Price from the Company in the manner set forth above for the Unvested Shares deemed repurchased, and in no case shall Purchaser have any claim of ownership as to any of such Unvested Shares. If the Repurchase Option is terminated in whole or in part by written notice from the Company to Purchaser, then upon and following such termination the only remaining right of Purchaser under this Agreement shall be the right to receive and retain the Unvested Shares as to which the Repurchase Option was terminated, and Purchaser shall have no right whatsoever to receive the Repurchase Price.", "size": 19, "samples": [{"hash": "j4Fqq6SMMgR", "uri": "/contracts/j4Fqq6SMMgR#repurchase-option", "label": "Stock Purchase Agreement (Lemonade, Inc.)", "score": 29.4339485168, "published": true}, {"hash": "9V9TdqGme03", "uri": "/contracts/9V9TdqGme03#repurchase-option", "label": "Stock Purchase Agreement (Lemonade, Inc.)", "score": 29.2915802002, "published": true}, {"hash": "bP6nyZYBbYg", "uri": "/contracts/bP6nyZYBbYg#repurchase-option", "label": "Stock Purchase Agreement (Lemonade, Inc.)", "score": 28.7440109253, "published": true}], "hash": "d22745152308282d0f70277cc84454e2", "id": 6}, {"snippet_links": [{"key": "in-the-event", "type": "clause", "offset": [0, 12]}, {"key": "employed-by-the-company", "type": "definition", "offset": [41, 64]}, {"key": "for-any-reason", "type": "clause", "offset": [92, 106]}, {"key": "date-of", "type": "clause", "offset": [112, 119]}, {"key": "termination-date", "type": "definition", "offset": [170, 186]}, {"key": "executive-units", "type": "definition", "offset": [194, 209]}, {"key": "by-executive", "type": "clause", "offset": [224, 236]}, {"key": "permitted-transferees", "type": "definition", "offset": [252, 273]}, {"key": "subject-to", "type": "clause", "offset": [283, 293]}, {"key": "the-investors", "type": "definition", "offset": [324, 337]}, {"key": "the-terms-and-conditions", "type": "definition", "offset": [350, 374]}, {"key": "section-3", "type": "clause", "offset": [393, 402]}], "snippet": "In the event that Executive is no longer employed by the Company or any of its subsidiaries for any reason (the date of such termination being referred to herein as the \"Termination Date\"), the Executive Units, whether held by Executive or one or more Permitted Transferees, will be subject to repurchase by the Company and the Investors pursuant to the terms and conditions set forth in this Section 3 (the \"Repurchase Option\").", "size": 62, "samples": [{"hash": "lVTc7JT2ylI", "uri": "/contracts/lVTc7JT2ylI#repurchase-option", "label": "Executive Unit Agreement (Alliance Laundry Systems LLC)", "score": 18.0, "published": true}, {"hash": "l2zcEzzA8ve", "uri": "/contracts/l2zcEzzA8ve#repurchase-option", "label": "Executive Unit Agreement (Alliance Laundry Systems LLC)", "score": 18.0, "published": true}, {"hash": "khpZOAB26WP", "uri": "/contracts/khpZOAB26WP#repurchase-option", "label": "Executive Unit Agreement (Alliance Laundry Systems LLC)", "score": 18.0, "published": true}], "hash": "fe8de49dfc89a899fc87e24f8de6f27d", "id": 4}, {"snippet_links": [{"key": "termination-of-this", "type": "clause", "offset": [5, 24]}, {"key": "by-practice", "type": "clause", "offset": [73, 84]}, {"key": "for-cause", "type": "clause", "offset": [85, 94]}, {"key": "pursuant-to-section", "type": "definition", "offset": [95, 114]}, {"key": "the-right", "type": "clause", "offset": [150, 159]}, {"key": "the-obligation", "type": "clause", "offset": [169, 183]}, {"key": "business-manager", "type": "clause", "offset": [207, 223]}, {"key": "intangible-assets", "type": "clause", "offset": [272, 289]}, {"key": "deferred-charges", "type": "definition", "offset": [291, 307]}, {"key": "other-amounts", "type": "definition", "offset": [316, 329]}, {"key": "books-of-business", "type": "clause", "offset": [337, 354]}, {"key": "relating-to", "type": "definition", "offset": [363, 374]}, {"key": "the-management-services-agreement", "type": "definition", "offset": [375, 408]}, {"key": "as-adjusted", "type": "definition", "offset": [409, 420]}, {"key": "day-of", "type": "clause", "offset": [439, 445]}, {"key": "most-recently-ended", "type": "definition", "offset": [456, 475]}, {"key": "prior-to-the", "type": "clause", "offset": [476, 488]}, {"key": "date-of", "type": "clause", "offset": [489, 496]}, {"key": "in-accordance-with", "type": "clause", "offset": [514, 532]}, {"key": "owned-by", "type": "definition", "offset": [686, 694]}, {"key": "appraised-fair-market-value", "type": "definition", "offset": [756, 783]}, {"key": "book-value", "type": "clause", "offset": [792, 802]}, {"key": "in-the-event-of", "type": "clause", "offset": [812, 827]}, {"key": "real-property", "type": "definition", "offset": [846, 859]}, {"key": "appraised-value", "type": "definition", "offset": [865, 880]}, {"key": "the-appraisal", "type": "clause", "offset": [920, 933]}, {"key": "section-74", "type": "clause", "offset": [957, 968]}, {"key": "leasehold-improvements", "type": "definition", "offset": [1065, 1087]}, {"key": "the-performance", "type": "clause", "offset": [1168, 1183]}, {"key": "all-contracts", "type": "clause", "offset": [1284, 1297]}, {"key": "obligations-of", "type": "clause", "offset": [1328, 1342]}, {"key": "office-expense", "type": "clause", "offset": [1394, 1408]}, {"key": "agreement-or", "type": "definition", "offset": [1512, 1524]}, {"key": "the-properties", "type": "definition", "offset": [1525, 1539]}, {"key": "to-assume", "type": "clause", "offset": [1637, 1646]}, {"key": "the-accounts-receivable", "type": "clause", "offset": [1675, 1698]}, {"key": "in-existence", "type": "definition", "offset": [1711, 1723]}, {"key": "at-the-time", "type": "clause", "offset": [1724, 1735]}, {"key": "section-49", "type": "clause", "offset": [1888, 1899]}, {"key": "equipment-listed", "type": "clause", "offset": [2002, 2018]}, {"key": "contribution-and-exchange-agreement", "type": "clause", "offset": [2026, 2061]}, {"key": "other-tangible-assets", "type": "definition", "offset": [2256, 2277]}, {"key": "inventory-and-supplies", "type": "definition", "offset": [2289, 2311]}, {"key": "the-office", "type": "clause", "offset": [2509, 2519]}, {"key": "other-adjustments", "type": "clause", "offset": [2552, 2569]}, {"key": "section-75", "type": "clause", "offset": [2749, 2760]}, {"key": "obligation-to-purchase", "type": "clause", "offset": [2786, 2808]}, {"key": "the-items", "type": "definition", "offset": [2840, 2849]}, {"key": "assets-acquired", "type": "clause", "offset": [2988, 3003]}, {"key": "directly-or-indirectly", "type": "clause", "offset": [3084, 3106]}, {"key": "the-assets", "type": "clause", "offset": [3169, 3179]}, {"key": "no-right-to-repurchase", "type": "clause", "offset": [3254, 3276]}, {"key": "in-writing", "type": "definition", "offset": [3354, 3364]}, {"key": "in-lieu-of", "type": "clause", "offset": [3490, 3500]}, {"key": "the-option", "type": "clause", "offset": [3578, 3588]}, {"key": "amount-required", "type": "clause", "offset": [3617, 3632]}, {"key": "due-and-owing", "type": "definition", "offset": [3694, 3707]}, {"key": "the-note", "type": "clause", "offset": [3714, 3722]}, {"key": "number-of-exchange-shares", "type": "clause", "offset": [3839, 3864]}, {"key": "based-on", "type": "definition", "offset": [3941, 3949]}, {"key": "then-fair-market-value", "type": "definition", "offset": [3954, 3976]}, {"key": "valuation-procedure", "type": "definition", "offset": [4055, 4074]}, {"key": "in-no-event-shall", "type": "clause", "offset": [4216, 4233]}, {"key": "the-price", "type": "clause", "offset": [4234, 4243]}, {"key": "purchase-price-paid", "type": "clause", "offset": [4319, 4338]}, {"key": "to-practice", "type": "clause", "offset": [4339, 4350]}, {"key": "ambulatory-surgery-center", "type": "definition", "offset": [4366, 4391]}, {"key": "terms-and-conditions-of-the-contribution", "type": "clause", "offset": [4420, 4460]}], "snippet": "Upon termination of this Management Services ----------------- Agreement by Practice for cause pursuant to Section 7.2(b) hereof, Practice shall have the right, but not the obligation, to:\n(a) Purchase from Business Manager at the greater of book or fair market value the intangible assets, deferred charges and all other amounts on the books of Business Manager relating to the Management Services Agreement as adjusted, through the last day of the month most recently ended prior to the date of such termination in accordance with GAAP to reflect amortization or depreciation of the intangible assets, deferred charges or covenants;\n(b) Purchase from Business Manager any real estate owned by Business Manager and used as an Office at the greater of the appraised fair market value or then book value thereof. In the event of any repurchase of real property, the appraised value shall be determined in accordance with the appraisal mechanism described in Section 7.4 hereof;\n(c) Purchase at the greater of book or fair market value all improvements, additions or leasehold improvements that have been made by Business Manager at any Office and that relate solely to the performance of Business Manager's obligations under this Management Services Agreement;\n(d) Assume all debt and all contracts, payables and leases that are obligations of Business Manager that would be characterized as an Office Expense hereunder relating to the performance of Business Manager's obligations under this Management Services Agreement or the properties leased or subleased by Business Manager; provided, however, that Practice shall only be required to assume those payables in excess of the accounts receivable of Practice in existence at the time this Management Services Agreement is terminated and from which funds are available after satisfying any previous shortfalls applied in accordance with Section 4.9 hereof; and\n(e) Purchase from Business Manager at the greater of book or fair market value all of the equipment listed in the Contribution and Exchange Agreement or an exhibit thereto, including all replacements and additions thereto made by Business Manager pursuant to the performance of its obligations under this Management Services Agreement, and all other tangible assets, including inventory and supplies, set forth on the books of Business Manager as adjusted through the last day of the month most recently ended prior to the date of such termination in accordance with GAAP to reflect operations of the Office, depreciation, amortization and other adjustments of assets shown on the books of Business Manager.\n(f) Acquire the name, American Eye Institute, from Business Manager. In the event Practice exercises its rights pursuant to this Section 7.5, Practice shall have the obligation to purchase all, and not less than all, of the items listed in subparagraphs (a) through (f). In no event, however, shall this Section 7.5 be construed as enabling Practice to repurchase any assets acquired from Practice pursuant to the Contribution and Exchange Agreement, which relate directly or indirectly to the ASC Assets. The ASC Assets are expressly excluded from the assets enumerated in subparagraphs (a) through (f) above and Practice shall have no right to repurchase the ASC Assets under this Section 7.5 unless Business Manager shall so elect in writing, in which case Practice shall be required to repurchase the ASC Assets at the greater of the then book or fair market value. In lieu of paying cash for the items described in this Section 7.5, Practice shall have the option of: (i) offsetting the cash amount required pursuant to this Section 7.5 against the outstanding balance due and owing under the Note (as such term is defined in the Contribution and Exchange Agreement); or (ii) contributing to Business Manager that number of Exchange Shares (as such term is defined in the Contribution and Exchange Agreement) which, based on the then fair market value of such shares (determined in accordance with a consistent application of the valuation procedure established under Section 7.01(d) of the Contribution and Exchange Agreement), equals the cash amount required pursuant to this Section 7.5. In no event shall the price to be repaid by Practice pursuant to this Section 7.5 exceed the aggregate purchase price paid to Practice (excluding the ambulatory surgery center) by NovaMed pursuant to the terms and conditions of the Contribution and Exchange Agreement.", "size": 19, "samples": [{"hash": "eGj4oWi1rWq", "uri": "/contracts/eGj4oWi1rWq#repurchase-option", "label": "Management Services Agreement (Novamed Eyecare Inc)", "score": 18.0, "published": true}, {"hash": "8661cMqZfUm", "uri": "/contracts/8661cMqZfUm#repurchase-option", "label": "Management Services Agreement (Novamed Eyecare Inc)", "score": 18.0, "published": true}], "hash": "a00d1cca4add3231b17c56570c151181", "id": 7}, {"snippet_links": [{"key": "if-employee", "type": "definition", "offset": [0, 11]}, {"key": "employed-by-the-company", "type": "definition", "offset": [25, 48]}, {"key": "of-employee", "type": "clause", "offset": [95, 106]}, {"key": "unvested-units", "type": "definition", "offset": [113, 127]}, {"key": "any-action", "type": "definition", "offset": [161, 171]}, {"key": "of-the-company", "type": "clause", "offset": [184, 198]}, {"key": "date-of", "type": "clause", "offset": [242, 249]}, {"key": "the-termination", "type": "clause", "offset": [250, 265]}, {"key": "definition-of-cause", "type": "definition", "offset": [371, 390]}, {"key": "section-9", "type": "clause", "offset": [404, 413]}, {"key": "subject-to", "type": "clause", "offset": [694, 704]}, {"key": "repurchase-by-the-company", "type": "clause", "offset": [705, 730]}, {"key": "the-terms-and-conditions", "type": "definition", "offset": [760, 784]}, {"key": "section-6", "type": "clause", "offset": [803, 812]}, {"key": "for-any-reason", "type": "clause", "offset": [847, 861]}, {"key": "termination-by-the-company-for-cause", "type": "definition", "offset": [875, 911]}, {"key": "by-employee", "type": "clause", "offset": [925, 936]}], "snippet": "If Employee ceases to be employed by the Company or any of its Subsidiaries (the \u201cTermination\u201d of Employee), the Unvested Units shall automatically, and without any action on the part of the Company, be forfeited and cease to exist as of the date of the Termination, and the Vested Units shall either (i) if such Termination was by the Company for subjection (iv) of the definition of Cause set forth in Section 9 herein, be, automatically, and without any action on the part of the Company, forfeited and cease to exist as of the date of the Termination (ii) if such Termination was by the Company for subjection (i), (ii) or (iii) of the definition of Cause set forth in Section 9 herein, be subject to repurchase by the Company (or its nominee) pursuant to the terms and conditions set forth in this Section 6, or (iii) if such Termination was for any reason other than a Termination by the Company for Cause, be retained by Employee.", "size": 27, "samples": [{"hash": "l96oY8B4ImU", "uri": "/contracts/l96oY8B4ImU#repurchase-option", "label": "Employee Equity 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{"key": "the-company-shall", "type": "clause", "offset": [301, 318]}, {"key": "date-of", "type": "clause", "offset": [329, 336]}, {"key": "exclusive-option", "type": "clause", "offset": [434, 450]}, {"key": "the-obligation", "type": "clause", "offset": [460, 474]}, {"key": "period-of", "type": "clause", "offset": [482, 491]}, {"key": "the-restricted-shares", "type": "clause", "offset": [561, 582]}, {"key": "the-repurchase-option", "type": "clause", "offset": [685, 706]}, {"key": "notice-to-the-purchaser", "type": "clause", "offset": [754, 777]}, {"key": "with-a-copy-to", "type": "clause", "offset": [807, 821]}, {"key": "the-escrow-agent", "type": "definition", "offset": [822, 838]}, {"key": "the-requirements", "type": "clause", "offset": [852, 868]}, {"key": "section-3", "type": "clause", "offset": [872, 881]}, {"key": "delivery-to-the", "type": "clause", "offset": [911, 926]}, {"key": "notice-of-a", "type": "clause", "offset": [975, 986]}, {"key": "price-for-the-shares", "type": "clause", "offset": [1025, 1045]}, {"key": "aggregate-repurchase-price", "type": "definition", "offset": [1070, 1096]}, {"key": "delivery-of", "type": "clause", "offset": [1105, 1116]}, {"key": "payment-of-the", "type": "clause", "offset": [1137, 1151]}, {"key": "legal-and-beneficial-owner", "type": "clause", "offset": [1209, 1235]}, {"key": "rights-and-interests", "type": "definition", "offset": [1276, 1296]}, {"key": "and-the-company", "type": "clause", "offset": [1326, 1341]}], "snippet": "(a) If Purchaser\u2019s service with the Company is terminated by the Company for Cause (as defined in Section 4) or Purchaser resigns without Good Reason (as defined in Section 4) (each, a \u201cTermination Event\u201d) before all of the Shares are released from the Company\u2019s Repurchase Option (as defined below), the Company shall, upon the date of such Termination Event (as reasonably fixed and determined by the Company), have an irrevocable, exclusive option, but not the obligation, for a period of ninety (90) days from such date, to repurchase all or any portion of the Restricted Shares (as defined below) at such time (the \u201cRepurchase Option\u201d) at the Repurchase Price (as defined below). The Repurchase Option shall be exercisable by the Company by written notice to the Purchaser or the Purchaser\u2019s executor (with a copy to the escrow agent, pursuant to the requirements of Section 3) and shall be exercisable by delivery to the Purchaser or the Purchaser\u2019s executor with such notice of a check in the amount of the Repurchase Price for the Shares being repurchased (the \u201cAggregate Repurchase Price\u201d). Upon delivery of such notice and the payment of the Aggregate Repurchase Price, the Company shall become the legal and beneficial owner of the Shares being repurchased and all rights and interests therein or relating thereto, and the Company shall have", "size": 15, "samples": [{"hash": "ku3HL0yRa80", "uri": "/contracts/ku3HL0yRa80#repurchase-option", "label": "Stock Restriction Agreement (Fluidigm Corp)", "score": 23.1396312714, "published": true}, {"hash": "iEgE5Rbs1t8", "uri": "/contracts/iEgE5Rbs1t8#repurchase-option", "label": "Stock Restriction Agreement (Fluidigm Corp)", "score": 23.1396312714, "published": true}, {"hash": "g02GcV1afOY", "uri": "/contracts/g02GcV1afOY#repurchase-option", "label": "Stock Restriction Agreement (Fluidigm Corp)", "score": 23.1396312714, "published": true}], "hash": "59a13d34fd3ac8b440b5ce156086f66b", "id": 8}, {"snippet_links": [{"key": "in-the-event-of", "type": "clause", "offset": [0, 15]}, {"key": "termination-of-the-employee", "type": "clause", "offset": [45, 72]}, {"key": "by-the-company-for", "type": "clause", "offset": [86, 104]}, {"key": "no-reason", "type": "clause", "offset": [112, 121]}, {"key": "by-reason-of-death-or-disability", "type": "clause", "offset": [133, 165]}, {"key": "the-company-shall", "type": "clause", "offset": [167, 184]}, {"key": "date-of", "type": "clause", "offset": [204, 211]}, {"key": "period-of", "type": "clause", "offset": [363, 372]}, {"key": "option-period", "type": "clause", "offset": [407, 420]}, {"key": "unvested-shares", "type": "definition", "offset": [474, 489]}, {"key": "purchase-price-per-share", "type": "definition", "offset": [506, 530]}, {"key": "by-the-employee", "type": "clause", "offset": [536, 551]}, {"key": "notice-to-the-employee", "type": "clause", "offset": [616, 638]}, {"key": "number-of", "type": "definition", "offset": [671, 680]}, {"key": "the-purchase-price", "type": "clause", "offset": [783, 801]}, {"key": "legal-and-beneficial-owner", "type": "clause", "offset": [891, 917]}, {"key": "rights-and-interests", "type": "definition", "offset": [967, 987]}, {"key": "and-the-company", "type": "clause", "offset": [1017, 1032]}, {"key": "right-to", "type": "definition", "offset": [1048, 1056]}, {"key": "transfer-to", "type": "clause", "offset": [1068, 1079]}], "snippet": "In the event of any voluntary or involuntary termination of the Employee\u2019s employment by the Company for any or no reason, including by reason of death or disability, the Company shall, upon and from the date of such termination (as reasonably fixed and determined by the Company) have an irrevocable, exclusive, assignable option (the \u201cRepurchase Option\u201d) for a period of ninety (90) days (the \u201cRepurchase Option Period\u201d) to repurchase all or any portion of the Employee\u2019s Unvested Shares at the original purchase price per share paid by the Employee. Such option may be exercised by the Company by sending written notice to the Employee, which notice shall specify the number of Unvested Shares being so repurchased and which notice shall be accompanied by the Company\u2019s check for the purchase price of those shares. Upon the sending of such notice and check, the Company shall become the legal and beneficial owner of the Unvested Shares being repurchased and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unvested Shares being repurchased by the Company.", "size": 12, "samples": [{"hash": "abQbPts2qKq", "uri": "/contracts/abQbPts2qKq#repurchase-option", "label": "Employee Non Qualified Stock Option Agreement", "score": 29.3408622742, "published": true}, {"hash": "dsO2d5npFWX", "uri": "/contracts/dsO2d5npFWX#repurchase-option", "label": "Incentive Stock Option Agreement (SALARY.COM, Inc)", "score": 21.0, "published": true}, {"hash": "9S5tAsexnhE", "uri": "/contracts/9S5tAsexnhE#repurchase-option", "label": "Stock Option Agreement (SALARY.COM, Inc)", "score": 21.0, "published": true}], "hash": "53e1247a6467837151beb18cf3177ccf", "id": 10}, {"snippet_links": [{"key": "in-the-event", "type": "clause", "offset": [0, 12]}, {"key": "continuous-service", "type": "definition", "offset": [25, 43]}, {"key": "the-company-shall", "type": "clause", "offset": [61, 78]}, {"key": "irrevocable-option", "type": "clause", "offset": [87, 105]}, {"key": "period-of", "type": "clause", "offset": [138, 147]}, {"key": "days-after", "type": "definition", "offset": [160, 170]}, {"key": "in-the-case", "type": "clause", "offset": [192, 203]}, {"key": "upon-exercise-of-the-option", "type": "clause", "offset": [221, 248]}, {"key": "date-of-termination", "type": "definition", "offset": [260, 279]}, {"key": "by-the-company", "type": "clause", "offset": [380, 394]}, {"key": "personal-representative", "type": "clause", "offset": [454, 477]}, {"key": "pursuant-to-the", "type": "definition", "offset": [536, 551]}, {"key": "termination-date", "type": "definition", "offset": [614, 630]}, {"key": "in-accordance-with", "type": "clause", "offset": [631, 649]}, {"key": "vesting-schedule", "type": "clause", "offset": [654, 670]}, {"key": "stock-option-grant-notice", "type": "definition", "offset": [696, 721]}, {"key": "unvested-shares", "type": "definition", "offset": [728, 743]}], "snippet": "In the event Purchaser\u2019s Continuous Service terminates, then the Company shall have an irrevocable option (the \u201cRepurchase Option\u201d) for a period of ninety (90) days after said termination (or in the case of shares issued upon exercise of the Option after such date of termination, within ninety (90) days after the date of the exercise), or such longer period as may be agreed to by the Company and Purchaser, to repurchase from Purchaser or Purchaser\u2019s personal representative, as the case may be, those shares that Purchaser received pursuant to the exercise of the Option that have not as yet vested as of such termination date in accordance with the Vesting Schedule indicated on Purchaser\u2019s Stock Option Grant Notice (the \u201cUnvested Shares\u201d).", "size": 15, "samples": [{"hash": "ad1OdP80pjb", "uri": "/contracts/ad1OdP80pjb#repurchase-option", "label": "Early Exercise Stock Purchase Agreement (Sio Gene Therapies Inc.)", "score": 29.8665294647, "published": true}, {"hash": "aEqGpKPWzDX", "uri": "/contracts/aEqGpKPWzDX#repurchase-option", "label": "Early Exercise Stock Purchase Agreement (Dermavant Sciences LTD)", "score": 28.4373722076, "published": true}, {"hash": "bDbvgKFcVkC", "uri": "/contracts/bDbvgKFcVkC#repurchase-option", "label": "Early Exercise Stock Purchase Agreement (Urovant Sciences Ltd.)", "score": 27.7091026306, "published": true}], "hash": "2aa5ed3f1e8f40a93c318a8817ab3b7c", "id": 9}], "next_curs": "CloSVGoVc35sYXdpbnNpZGVyY29udHJhY3RzcjYLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhpyZXB1cmNoYXNlLW9wdGlvbiMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"children": [["repurchase-option", "Repurchase Option"], ["closing", "Closing"], ["repurchase-price", "Repurchase Price"], ["exercise-of-repurchase-option", "Exercise of Repurchase Option"], ["repurchase-procedures", "Repurchase Procedures"]], "size": 1913, "title": "Repurchase Option", "parents": [["agreement", "Agreement"], ["entire-agreement", "Entire Agreement"], ["repurchase-option", "Repurchase Option"], ["limitations-on-transfer", "Limitations on Transfer"], ["no-guarantee-of-continued-service", "No Guarantee of Continued Service"]], "id": "repurchase-option", "related": [["exercise-of-repurchase-option", "Exercise of Repurchase Option", "Exercise of <strong>Repurchase Option</strong>"], ["termination-of-repurchase-option", "Termination of Repurchase Option", "Termination of <strong>Repurchase Option</strong>"], ["substitute-purchase-option", "Substitute Purchase Option", "Substitute Purchase Option"], ["repurchase-right", "Repurchase Right", "Repurchase Right"], ["exercise-of-repurchase-right", "Exercise of Repurchase Right", "Exercise of Repurchase Right"]], "related_snippets": [], "updated": "2026-04-19T04:24:51+00:00", "also_ask": ["What are the most negotiable terms in a repurchase option for each party?", "Which drafting elements are essential to ensure the repurchase option is enforceable?", "What are the primary legal risks or pitfalls that could invalidate a repurchase option?", "How do repurchase option standards differ across key jurisdictions or industries?", "What factors do courts consider when determining if a repurchase option is a disguised penalty or restriction on alienation?"], "drafting_tip": null, "explanation": "A Repurchase Option clause grants one party, typically the seller or original owner, the right to buy back an asset or property from the buyer under specified conditions. This clause outlines the circumstances, timeframes, and price or formula for the repurchase, such as allowing the seller to reclaim shares if certain milestones are not met or if the buyer wishes to sell. Its core practical function is to provide flexibility and protection for the original owner, ensuring they can regain control of the asset if needed, and to address potential changes in business circumstances or relationships."}, "json": true, "cursor": ""}}