Common use of Scope of Repurchase Right Clause in Contracts

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. (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 periods of time (in the case of Restricted Shares vesting over time) (each, a “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 its first Repurchase Right by delivering written notice to Recipient within ninety (90) days after the first anniversary of the Commencement Date, Grant Date in the case of Restricted Shares vesting over timeShares, or and may exercise its second Repurchase Right by delivering written notice to Recipient within ninety (90) days after the date that second anniversary of the Company files its Annual Report on Form 10-K with Grant Date in the Securities and Exchange Commission with respect case of Restricted Shares. [Modify to Restricted Shares vesting during any applicable Performance Periodaddress time of vesting.] (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. (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 periods of time (in the case of Restricted Shares vesting over time) (each, a “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 its first Repurchase Right by delivering written notice to Recipient within ninety (90) days after the first anniversary of the Commencement Date, Grant Date in the case of 5,000 Restricted Shares vesting over timeShares, or and may exercise its second Repurchase Right by delivering written notice to Recipient within ninety (90) days after the date that second anniversary of the Company files its Annual Report on Form 10-K with Grant Date in the Securities and Exchange Commission with respect to case of 5,000 Restricted Shares vesting during any applicable Performance PeriodShares. (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.