Common use of Nature of the Restrictions Clause in Contracts

Nature of the Restrictions. to which the property is subject: If the taxpayer’s service as a of the Company terminates for any reason before the restrictions on the Common Stock lapse, the Company will have the right to repurchase the Common Stock from the taxpayer at $0.01 per share. The Common Stock vests according to the following schedule: The Common Stock is non-transferable by the taxpayer until the restrictions lapse and is held as restricted in a book-entry account of the Company and its transfer agent, under taxpayer’s name.

Nature of the Restrictions. to which the property is subject: If the taxpayer’s service as a of the Company terminates for any reason before the restrictions on the Common Stock lapse, the Company will have the right to repurchase the Common Stock from the taxpayer at $0.01 per share. The Common Stock vests according to the following schedule: The Common Stock is non-transferable by the taxpayer until the restrictions lapse and is held as restricted in a book-entry account of the Company and its transfer agent, under taxpayer’s name.