Common use of Termination of Certain Rights Clause in Contracts

Termination of Certain Rights. The Company's obligations under Sections 1.1, 1.2 and 1.3 above will terminate upon the closing of the Company's initial public offering of Common Stock pursuant to an effective registration statement filed under the U.S. Securities Act of 1933, as amended (the "SECURITIES ACT"), in which the gross proceeds raised for the Company's account (calculated before deduction of underwriters' discounts and omissions) exceeds $15,000,000 at a price greater than $1.10 per share of Common Stock (such price to be proportionally adjusted to reflect stock splits, stock dividends and the like).

Termination of Certain Rights. The Company's obligations under Sections 1.1, 1.2 and 1.3 above will terminate upon the closing of the Company's initial public offering of Common Stock pursuant to an effective registration statement filed under the U.S. Securities Act of 1933, as amended (the "SECURITIES ACT"), in which the gross proceeds raised for the Company's account (calculated before deduction of underwriters' discounts and omissions) exceeds $15,000,000 at a price greater than $1.10 2.20 per share of Common Stock (such price to be proportionally adjusted to reflect stock splits, stock dividends and the like).