Exceptions to Restrictions. The restrictions on a Restricted Holder’s ability to Transfer Stockholder Shares contained in this Section 3 shall not apply to: (i) any Transfer of Stockholder Shares by a Stockholder to any Permitted Transferee; or (ii) any Transfer of Stockholder Shares to the Company (or any assignee of the Company) pursuant to the terms of a stock restriction or stock repurchase agreement approved by the Board of Directors which provides for such sale upon the termination of a Stockholder’s service with the Company. In the event of any Transfer pursuant to the foregoing clause “(i)”, the Permitted Transferee of the Stockholder Shares shall hold the Stockholder Shares so acquired with all the rights conferred by, and subject to all the restrictions imposed by, this Agreement and such Permitted Transferee shall agree in writing to be bound by the terms of this Agreement in the same capacity as the Stockholder.
Appears in 3 contracts
Samples: Stockholders’ Agreement (Aratana Therapeutics, Inc.), Stockholders’ Agreement (Aratana Therapeutics, Inc.), Stockholders’ Agreement (Aratana Therapeutics, Inc.)
