Common use of Future Participation Clause in Contracts

Future Participation. Axon shall have the right, but not the obligation, to participate in all future equity funding rounds of Adesto, , to purchase shares of common stock in each such equity funding round up to [*] of the total outstanding shares of Adesto and at a price per share at which Adesto sells its capital stock in that equity funding. Axon shall provide written notice of whether it elects to participate in an equity financing round to Adesto within [*] following Adesto notifying Axon of the occurrence of the equity funding round. The foregoing right by Axon respecting any given contemplated investment is conditioned upon Axon being an “accredited investor” (as defined by Rule 501 of Regulation D promulgated under the Securities Action of 1933, as amended) on the date of that investment. The provisions of the Future Participation shall be described in Appendix F (“Stock Purchase Agreement”). Notwithstanding the foregoing, Axon shall not have the right to participate in the Initial Equity Investment (including subsequent closings thereof).