Scope of Repurchase Right. Until they vest in accordance with Section (b) below, the Purchased Shares shall be Restricted Shares and shall be subject to the Right of Repurchase. The Company may exercise its Right of Repurchase only during the Repurchase Period following the termination of the Purchaser's Service.
Scope of Repurchase Right. Unless they have become vested in accordance with the Notice of Stock Option Grant and Subsection (c) below, the Shares acquired under this Agreement initially shall be Restricted Shares and shall be subject to a right (but not an obligation) of repurchase by the Company. The Optionee shall not transfer, assign, encumber or otherwise dispose of any Restricted Shares, except as provided in the following sentence. The Optionee may transfer Restricted Shares (i) by beneficiary designation, will or intestate succession or (ii) to the Optionee's spouse, children or grandchildren or to a trust established by the Optionee for the benefit of the Optionee or the Optionee's spouse, children or grandchildren, provided in either case that the Transferee agrees in writing on a form prescribed by the Company to be bound by all provisions of this Agreement. If the Optionee transfers any Restricted Shares, then this Section 7 shall apply to the Transferee to the same extent as to the Optionee.
Scope of Repurchase Right. Until they vest in accordance with Subsection (b) below, [ ] of the Purchased Shares shall be Restricted Shares and shall be subject to the Company’s Right of Repurchase. The Company, however, may decline to exercise its Right of Repurchase or may exercise its Right of Repurchase only with respect to a portion of the Restricted Shares. The Company may exercise its Right of Repurchase only during the Repurchase Period following the termination of the Purchaser’s Service. The Right of Repurchase may be exercised automatically under Subsection (d) below. If the Right of Repurchase is exercised, the Company shall pay the Purchaser an amount equal to the Purchase Price for each of the Restricted Shares being repurchased.
Scope of Repurchase Right. Five-Sixths (5/6ths) of the ------------------------- Restricted Shares shall be subject to a limited right (but not an obligation) of repurchase by the Company (the "Right of Repurchase"). Xxxxxxx shall not transfer, assign, encumber or otherwise dispose of any unvested Restricted Shares, except as provided in the following sentence. Xxxxxxx may transfer any Restricted Shares, subject to the Right of Repurchase, (i) by beneficiary designation, will or intestate succession or (ii) to Roberto's spouse, children or grandchildren or to a trust or family limited partnership established by Xxxxxxx for the benefit of Xxxxxxx or Roberto's spouse, children or grandchildren, provided in either case that the Transferee agrees in writing on a form prescribed by the Company to be bound by all provisions of this Agreement. If Xxxxxxx transfers any Restricted Shares, then this Section 1 shall apply to the Transferee to the same extent as to Xxxxxxx.
Scope of Repurchase Right. (i) If Recipient’s employment by the Company is terminated before the Restricted Shares and Additional Securities (as defined below) are released from the Company’s Repurchase Right (as defined below), the Company shall, upon the date of such termination, have the right to repurchase all or any portion of the Restricted Shares and Additional Securities for $0.001 per share (the “Repurchase Right”). The Company may exercise the Repurchase Right by delivering written notice to Recipient within ninety (90) days after the date of termination.
(ii) If the requisite period (in the case of Restricted Shares vesting over time) (“Vesting Period”) or the Performance Goal (as defined below) for any Performance Period (as defined below) are not met, the Company shall have the right to repurchase the Restricted Shares and any Additional Securities allocated to the Vesting Period or that Performance Period, for $0.001 per share (the “Repurchase Right”). The Company may exercise the Repurchase Right by delivering written notice to Recipient within ninety (90) days after the first anniversary of the Commencement Date, in the case of Restricted Shares vesting over time, or within ninety (90) days after the date that the Company files its Annual Report on Form 10-K with the Securities and Exchange Commission with respect to Restricted Shares vesting during any applicable Performance Period.
(iii) Upon delivery of a repurchase notice pursuant to this Section 2(b), the Company shall become the legal and beneficial owner of the Restricted 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 Restricted Shares being repurchased by the Company. Recipient shall forfeit the right to all cash or other property from time to time received, receivable, or otherwise distributed in respect of or in exchange for all or any part of the Restricted Shares and Additional Securities that are repurchased by the Company pursuant hereto.
Scope of Repurchase Right. Until they vest in accordance with Section (b) below, the Purchased Shares shall be Restricted Shares and shall be subject to the Right of Repurchase. The Company (or, if there is a Change in Control Event, the New Employer) may exercise its Right of Repurchase only during the Repurchase Period following the termination of the Purchaser's Service. The Right of Repurchase may be exercised automatically under Section 2(d) below. If the Right of Repurchase is exercised prior to a Change in Control Event, the Company shall pay the Purchaser an amount equal to the Per Share Purchase Price ( i.e. , $.01 per Share) (as adjusted for stock splits, stock dividends and similar corporate transactions) for each of the Restricted Shares being repurchased. If the Right of Repurchase is exercised subsequent to a Change in Control Event, the New Employer shall pay the Purchaser an amount, for all of the CIC Restricted Shares which are repurchased, equal to the total amount paid by the Purchaser for the Purchased Shares multiplied by a fraction, the numerator of which is the number of CIC Restricted Shares being repurchased and the denominator of which is the number of CIC Whole Shares (as defined in Section 2(b)(iv).
Scope of Repurchase Right. In the event that the Founder or Consultant ceases to be a Company Person, the Restricted Shares shall be subject to a right (but not an obligation) of repurchase by the Company, at a price and on the other terms and conditions set forth below (the “Repurchase Right”). Exercise by the Company of the Repurchase Right shall require approval by a majority of the Board.
Scope of Repurchase Right. All Shares shall initially be Restricted Shares (as defined below) and shall be initially subject to a right (but not an obligation) of repurchase in favor of the Company (the “Right of Repurchase”) pursuant to the terms and conditions of this Agreement. Except as otherwise set forth herein, the Stockholder shall not, directly or indirectly, via a sale or other Transfer of the Shares, any interest therein or otherwise, transfer, assign, encumber or otherwise dispose of any Shares during any period in which they are considered Restricted Shares and shall not transfer, assign, encumber or otherwise dispose of any Shares which are no longer considered Restricted Shares without complying with the terms and conditions of Article 3 hereof. For purposes of this Agreement, the term “Restricted Shares” shall refer to Shares that are subject to the Right of Repurchase.
Scope of Repurchase Right. Until they vest in accordance with Subsection (b) below, the Purchased Shares shall be Restricted Shares and shall be subject to the Company’s Right of Repurchase. The Company, however, may decline to exercise its Right of Repurchase or may exercise its Right of Repurchase only with respect to a portion of the Restricted Shares. The Company may exercise its Right of Repurchase only during the Repurchase Period following the termination of the Purchaser’s Service. Unless the Company declines to exercise its Right of Repurchase, the Right of Repurchase shall be exercised automatically under Subsection (d) below. If the Right of Repurchase is exercised, the Company shall pay the Purchaser an amount equal to the Purchase Price for each of the Restricted Shares being repurchased. Until and unless the Right of Repurchase is exercised, the Purchaser shall have any and all rights as a holder of the Restricted Shares, including the right to vote such Restricted Shares.
Scope of Repurchase Right. All of the Restricted Shares shall, prior to the time when they have vested, be subject to repurchase by the Company pursuant to this Agreement (the “Repurchase Right”).
