Common use of Settlement and Closing of Reacquisition Clause in Contracts

Settlement and Closing of Reacquisition. If the Company has elected to exercise its Reacquisition Right as to part or all of the then Unvested Shares within the 60-day period described above, then, within ten (10) business days following the date of the Reacquisition Notice, Executive or his Permitted Assigns (as the case may be) shall deliver or cause to be delivered to the Company (i) the certificate(s) representing the Reacquisition Shares, together with a stock assignment separate from certificate, duly endorsed in blank, in full reconveyance and transfer of such Reacquisition Shares to the Company, or any Company Assignee (as the case may be) pursuant to this Section 5 and (ii) such other documents and instruments, including any agreements, that the Company may request to evidence and effectuate (x) the reconveyance and transfer of the Reacquisition Shares to the Company or the Company Assignee, if any, free and clear of any and all claims, liens, pledges, security interests, options, encumbrances and adverse interests of any kind or nature whatsoever (collectively, “Liens and Encumbrances”) and (y) the termination and release by Executive (and his Permitted Assigns, if any) of all rights, title and interest in and to and all claims of any nature whatsoever that Executive or his Permitted Assigns may have or may assert with respect to such Reacquisition Shares. Such additional documents and instruments may include written representations and warranties by the Executive and his Permitted Assigns (if any) that, upon such reconveyance and transfer, the Company shall become the beneficial and record owner of such Unvested Shares, free and clear of any and all Liens and Encumbrances and a release agreement, in such form as the Company may request, forever releasing the aforementioned rights and claims. Executive, on his behalf and on behalf of any Permitted Assigns to whom he may transfer any of the Unvested Shares in accordance with Section 6 below, hereby irrevocably appoints the Company as the attorney-in-fact for Executive and his Permitted Assigns (if any) and irrevocably grants to the Company a power of attorney, with full power of substitution and resubstitution, to take such actions and to execute and deliver such documents and instruments, in the name and on behalf of Executive or any of his Permitted Assigns, as the Company deems necessary, appropriate or desirable to effectuate such reconveyance and transfer of the Reacquisition Shares to the Company or any Company Assigns and the execution of the related documents, instruments and agreements as contemplated by this Section 5.4. Such appointment and power of attorney is being given by Executive as security for the performance of Executive’s obligations hereunder and is, therefore, coupled with an interest, and shall be irrevocable and shall continue in full force and effect following the death or any incapacity, whether physical or mental, of Executive or any Permitted Assign to whom any of the Unvested Shares have been transferred until the earlier of (x) the vesting of all of the Unvested Shares or (y) the Reacquisition of the Unvested Shares that the Company has elected to reacquire pursuant to this Section 5. In the event that the Company (i) sends a Reacquisition Notice to Executive within the aforesaid sixty (60) day period as to some, but not all, of the Unvested Shares it is then entitled to reacquire, or (ii) fails to send any Reacquisition Notice to Executive within the aforesaid 60-day period, then all of the then Unvested Shares that it was entitled, but did not elect, to reacquire shall thereupon become Vested Shares.

Settlement and Closing of Reacquisition. If the Company has elected to exercise its Reacquisition Right as to part or all of the then Unvested Shares within the 60-day period described above, then, within ten (10) business days following the date of the Reacquisition Notice, Executive or his Permitted Assigns (as the case may be) shall deliver or cause to be delivered to the Company (i) the certificate(s) representing the Reacquisition Shares, together with a stock assignment separate from certificate, duly endorsed in blank, in full reconveyance and transfer of such Reacquisition Shares to the Company, or any Company Assignee (as the case may be) pursuant to this Section 5 and (ii) such other documents and instruments, including any agreements, that the Company may request to evidence and effectuate (x) the reconveyance and transfer of the Reacquisition Shares to the Company or the Company Assignee, if any, free and clear of any and all claims, liens, pledges, security interests, options, encumbrances and adverse interests of any kind or nature whatsoever (collectively, “Liens and Encumbrances”) and (y) the termination and release by Executive (and his Permitted Assigns, if any) of all rights, title and interest in and to and all claims of any nature whatsoever that Executive or his Permitted Assigns may have or may assert with respect to such Reacquisition Shares. Such additional documents and instruments may include written representations and warranties by the Executive and his Permitted Assigns (if any) that, upon such reconveyance and transfer, the Company shall become the beneficial and record owner of such Unvested Shares, free and clear of any and all Liens and Encumbrances and a release agreement, in such form as the Company may request, forever releasing the aforementioned rights and claims. Executive, on his behalf and on behalf of any Permitted Assigns to whom he may transfer any of the Unvested Shares in accordance with Section 6 below, hereby irrevocably appoints the Company as the attorney-in-fact for Executive and his Permitted Assigns (if any) and irrevocably grants to the Company a power of attorney, with full power of substitution and resubstitution, to take such actions and to execute and deliver such documents and instruments, in the name and on behalf of Executive or any of his Permitted Assigns, as the Company deems necessary, appropriate or desirable to effectuate such reconveyance and transfer of the Reacquisition Shares to the Company or any Company Assigns and the execution of the related documents, instruments and agreements as contemplated by this Section 5.4. Such appointment and power of attorney is being given by Executive as security for the performance of Executive’s obligations hereunder and is, therefore, coupled with an interest, and shall be irrevocable and shall continue in full force and effect following the death or any incapacity, whether physical or mental, of Executive or any Permitted Assign to whom any of the Unvested Shares have been transferred until the earlier of (x) the vesting of all of the Unvested Shares or (y) the Reacquisition of the Unvested Shares that the Company has elected to reacquire pursuant to this Section 5. In the event that the Company (i) sends a Reacquisition Notice to Executive within the aforesaid sixty (60) day period period, as to some, but not all, of the Unvested Shares it is then entitled to reacquire, or (ii) fails to send any Reacquisition Notice to Executive within the aforesaid 60-day period, then all of the then Unvested Shares that it was entitled, but did not elect, to reacquire shall thereupon become Vested Shares.

Settlement and Closing of Reacquisition. If the Company has elected to exercise its Reacquisition Right as to part or all of the then Unvested Shares within the 60-day period described above, then, within ten (10) business days following the date of the Reacquisition Notice, Executive or his Permitted Assigns (as the case may be) shall deliver or cause to be delivered to the Company (i) the certificate(s) representing the Reacquisition Shares, together with a stock assignment separate from certificate, duly endorsed in blank, in full reconveyance and transfer of such Reacquisition Shares to the Company, or any Company Assignee (as the case may be) pursuant to this Section 5 and (ii) such other documents and instruments, including any agreements, that the Company may request to evidence and effectuate (x) the reconveyance and transfer of the Reacquisition Shares to the Company or the Company Assignee, if any, free and clear of any and all claims, liens, pledges, security interests, options, encumbrances and adverse interests of any kind or nature whatsoever (collectively, “Liens and Encumbrances”) and (y) the termination and release by Executive (and his Permitted Assigns, if any) of all rights, title and interest in and to and all claims of any nature whatsoever that Executive or his Permitted Assigns may have or may assert with respect to such Reacquisition Shares. Such additional documents and instruments may include written representations and warranties by the Executive and his Permitted Assigns (if any) that, upon such reconveyance and transfer, the Company shall become the beneficial and record owner of such Unvested Shares, free and clear of any and all Liens and Encumbrances and a release agreement, in such form as the Company may request, forever releasing the aforementioned rights and claims. Executive, on his behalf and on behalf of any Permitted Assigns to whom he may transfer any of the Unvested Shares in accordance with Section 6 below, hereby irrevocably appoints the Company as the attorney-in-fact for Executive and his Permitted Assigns (if any) and irrevocably grants to the Company a power of attorney, with full power of substitution and resubstitution, to take such actions and to execute and deliver such documents and instruments, in the name and on behalf of Executive or any of his Permitted Assigns, as the Company deems necessary, appropriate or desirable to effectuate such reconveyance and transfer of the Reacquisition Shares to the Company or any Company Assigns and the execution of the related documents, instruments and agreements as contemplated by this Section 5.4. Such appointment and power of attorney is being given by Executive as security for the performance of Executive’s obligations hereunder and is, therefore, coupled with an interest, and shall be irrevocable and shall continue in full force and effect following the death or any incapacity, whether physical or mental, of Executive or any Permitted Assign to whom any of the Unvested Shares have been transferred until the earlier of (x) the vesting of all of the Unvested Shares or (y) the Reacquisition of the Unvested Shares that the Company has elected to reacquire pursuant to this Section 5. In the event that the Company (i) sends a Reacquisition Notice to Executive within the aforesaid sixty (60) day period as to some, but not all, of the Unvested Shares it is then entitled to reacquire, or (ii) fails to send any Reacquisition Notice to Executive within the aforesaid 60-day period, then all of the then Unvested Shares that it was entitled, but did not elect, to reacquire shall thereupon become Vested Shares.the

Settlement and Closing of Reacquisition. If the Company has elected to exercise its Reacquisition Right as to part or all of the then Unvested Shares within the 60-day period described above, then, within ten (10) business days following the date of the Reacquisition Notice, Executive or his Permitted Assigns (as the case may be) shall deliver or cause to be delivered to the Company (i) the certificate(s) representing the Reacquisition Shares, together with a stock assignment separate from certificate, duly endorsed in blank, in full reconveyance and transfer of such Reacquisition Shares to the Company, or any Company Assignee (as the case may be) ), pursuant to this Section 5 and (ii) such other documents and instruments, including any agreements, that the Company may request to evidence and effectuate (x) the reconveyance and transfer of the Reacquisition Shares to the Company or the Company Assignee, if any, free and clear of any and all claims, liens, pledges, security interests, options, encumbrances and adverse interests of any kind or nature whatsoever (collectively, “Liens and Encumbrances”) and (y) the termination and release by Executive (and his Permitted Assigns, if any) of all rights, title and interest in and or to and all claims of any nature whatsoever that Executive or his Permitted Assigns may have or may assert with respect to such Reacquisition Shares. Such additional documents and instruments may include written representations and warranties by the Executive and his Permitted Assigns (if any) that, upon such reconveyance and transfer, the Company shall become the beneficial and record owner of such Unvested Shares, free and clear of any and all Liens and Encumbrances and a release agreement, in such form as the Company may request, forever releasing the aforementioned rights and claims. Executive, on his behalf and on behalf of any Permitted Assigns to whom he may transfer any of the Unvested Shares in accordance with Section 6 below, hereby irrevocably appoints the Company as the attorney-in-fact for Executive and his Permitted Assigns (if any) and irrevocably grants to the Company a power of attorney, with full power of substitution and resubstitution, to take such actions and to execute and deliver such documents and instruments, in the name and on behalf of Executive or any of his Permitted Assigns, as the Company deems necessary, appropriate or desirable to effectuate such reconveyance and transfer of the Reacquisition Shares to the Company or any Company Assigns and the execution of the related documents, instruments and agreements as contemplated by this Section 5.4. Such appointment and power of attorney is being given by Executive as security for the performance of Executive’s obligations hereunder and is, therefore, coupled with an interest, and shall be irrevocable and shall continue in full force and effect following the death or any incapacity, whether physical or mental, of Executive or any Permitted Assign to whom any of the Unvested Shares have been transferred until the earlier of (x) the vesting of all of the Unvested Shares or (y) the Reacquisition of the Unvested Shares that the Company has elected to reacquire pursuant to this Section 5. In the event that the Company (i) sends a Reacquisition Notice to Executive within the aforesaid sixty (60) day period period, as to some, but not all, of the Unvested Shares it is then entitled to reacquire, ; or (ii) fails to send any Reacquisition Notice to Executive within the aforesaid 60-day period, then all of the then Unvested Shares that it was entitled, but did not elect, to reacquire shall thereupon become Vested Shares.