Common use of Early Exercise Clause in Contracts

Early Exercise. You shall have the right to exercise the Initial Equity Award and the Follow-on Equity Award early, subject to entering into a restricted shares agreement as directed by the Parent; provided, however, that the shares acquired by exercise of the Initial Equity Award or the Follow-on Equity Award, as applicable, that is not vested shall be subject to the same vesting schedule that applied to the Initial Equity Award and the Follow-on Equity Award, as applicable, so that on termination of employment, any shares that has not become vested may be repurchased, at the Company’s discretion, on payment of the lesser of (A) the amount paid by you for such shares, or (B) the then fair market value of such shares.