Common use of Right to Repurchase Clause in Contracts

Right to Repurchase. At any time that the Company is not a “reporting company” under Section 12 of the Exchange Act, the Company will have the right to repurchase (the “Repurchase Right”), upon Participant’s termination of service as a member of the Board for any reason, whether voluntary or involuntary, or by resignation, removal, death or disability or otherwise, all shares of Common Stock that are issued to Participant under this Award Agreement, that have become vested in accordance with Section 3 or 6 of this Award Agreement and that are beneficially owned by the Participant as of the date the Company exercises the Repurchase Right. The Company’s right to repurchase shall remain in effect during the term of Participant’s service with the Company and shall continue for a period of two years following termination of Participant’s service with the Company. If the Company elects to purchase any Common Stock pursuant to this Section 9(a), it shall give written notice of its election to do so (the “Election Notice”) to the Participant. If the Company shall become a “reporting company” prior to giving an Election Notice, the Company’s Repurchase Right shall lapse. If the Company shall become a “reporting company” after giving an Election Notice and prior to the consummation of the repurchase which is the subject of such Election Notice, the Company’s Repurchase Right shall continue in full force and effect.

Right to Repurchase. At any time that the Company is not a “reporting company” under Section 12 of the Exchange Act, the Company will have the right to repurchase (the “Repurchase Right”), upon Participant’s termination of service as a member of the Board employment for any reason, whether voluntary or involuntary, or by resignation, removal, death or disability or otherwise, all shares of Common Stock that are issued to Participant under this Award Agreement, that have become vested in accordance with Section 3 or 6 of this Award Agreement Agreement, and that are beneficially owned by the Participant as of the date the Company exercises the Repurchase Right. The Company’s right to repurchase shall remain in effect during the term of Participant’s service with employment by the Company and shall continue for a period of two years following termination of Participant’s service with employment by the Company. If the Company elects to purchase any Common Stock pursuant to this Section 9(a10(a), it shall give written notice of its election to do so (the “Election Notice”) to the Participant. If the Company shall become a “reporting company” prior to giving an Election Notice, the Company’s Repurchase Right shall lapse. If the Company shall become a “reporting company” after giving an Election Notice and prior to the consummation of the repurchase which is the subject of such Election Notice, the Company’s Repurchase Right shall continue in full force and effect.

Right to Repurchase. At any time that the Company is not a “reporting company” under Section 12 of the Exchange Act, the Company will have the right to repurchase (the “Repurchase Right”), ) all shares of Common Stock which are issued to Participant under this Award Agreement and which have become vested in accordance with Section 3 of this Award Agreement upon Participant’s termination of service as a member of the Board employment for any reason, whether voluntary or involuntary, or by resignation, removal, death or disability or otherwise, all shares of Common Stock that are issued to Participant under this Award Agreement, that have become vested in accordance with Section 3 or 6 of this Award Agreement and that are beneficially owned by the Participant as of the date the Company exercises the Repurchase Right. The Company’s right to repurchase shall remain in effect during the term of Participant’s service with employment by the Company and shall continue for a period of two years following termination of Participant’s service with employment by the Company. If the Company elects to purchase any Common Stock pursuant to this Section 9(a), it shall give written notice of its election to do so (the “Election Notice”) to the Participant. If the Company shall become a “reporting company” prior to giving an Election Notice, the Company’s Repurchase Right shall lapse. If the Company shall become a “reporting company” after giving an Election Notice and prior to the consummation of the repurchase which is the subject of such Election Notice, the Company’s Repurchase Right shall continue in full force and effect.