Repurchase Option Clause Example with 18 Variations from Business Contracts
This page contains Repurchase Option clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Repurchase Option. (a) If Purchaser's status as a Service Provider is terminated for any reason, including for death and Disability, the Company shall have the right and option for ninety (90) days from such date to purchase from Purchaser, or Purchaser's personal representative, as the case may be, all of the Purchaser's Unvested Shares as of the date of such termination at a price per share (the "Repurchase Price") equal to the lower of (i) the per share price paid by the Purchaser for each such Share and (ii) t...he Fair Market Value of a Share on the date the Company delivers the Repurchase Notice (the "Repurchase Option"). (b) Upon the occurrence of such termination, the Company may exercise its Repurchase Option by delivering personally or by registered mail, to Purchaser (or his or her transferee or legal representative, as the case may be) with a copy to the escrow agent described in Section 2 below, a notice in writing indicating the Company's intention to exercise the Repurchase Option (the "Repurchase Notice") AND, at the Company's option, (i) by delivering to the Purchaser (or the Purchaser's transferee or legal representative) a check in the amount of the aggregate Repurchase Price, or (ii) by the Company canceling an amount of the Purchaser's indebtedness to the Company equal to the aggregate Repurchase Price, or (iii) by a combination of (i) and (ii) so that the combined payment and cancellation of indebtedness equals such aggregate Repurchase Price. Upon delivery of such notice and payment of the aggregate Repurchase Price in any of the ways described above, the Company shall become the legal and beneficial owner of the Unvested Shares being repurchased and the rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unvested Shares being repurchased by the Company. (c) Whenever the Company shall have the right to repurchase Unvested Shares hereunder, the Company may designate and assign one or more employees, officers, directors or stockholders of the Company or other persons or organizations to exercise all or a part of the Company's Repurchase Option under this Agreement and purchase all or a part of such Unvested Shares. (d) If the Company does not elect to exercise the Repurchase Option conferred above by delivering to the Purchaser the requisite Repurchase Notice within ninety (90) days following the Purchaser's termination, the Repurchase Option shall terminate. (e) The Repurchase Option shall terminate in accordance with the vesting schedule contained in Purchaser's Option Agreement.View More
Variations of a "Repurchase Option" Clause from Business Contracts
Repurchase Option. (a) If Purchaser's In the event Participant's continuous status as a Service Provider is terminated terminates for any reason, including for or no reason (including death and Disability, or Disability), the Company shall shall, upon the date of such termination (as reasonably fixed and determined by the Company), have the right and an irrevocable, exclusive option for a period of ninety (90) days from such date to purchase from Purchaser, or Purchaser's personal representative, as repurchase up ...to that number of Shares which constitute the case may be, all Unreleased Shares (as defined in Part I of this Agreement) at the Purchaser's Unvested Shares as of the date of such termination at a price Purchase Price per share (the "Repurchase Price") equal to the lower of (i) the per share price paid by the Purchaser for each such Share and (ii) the Fair Market Value of a Share on the date the Company delivers the Repurchase Notice (the "Repurchase Option"). (b) Upon the occurrence of such termination, The Repurchase Option shall be exercised by the Company may exercise its Repurchase Option by delivering personally written notice to Participant or by registered mail, to Purchaser (or his or her transferee or legal representative, as the case may be) with Participant's executor (with a copy to the escrow agent described Escrow Holder (as defined in Section 2 below, a notice in writing indicating the Company's intention to exercise the Repurchase Option (the "Repurchase Notice") 11)) AND, at the Company's option, (i) by delivering to the Purchaser (or the Purchaser's transferee Participant or legal representative) Participant's executor a check in the amount of the aggregate Repurchase Price, or (ii) by the Company canceling an amount of the Purchaser's Participant's indebtedness to the Company equal to the aggregate Repurchase Price, or (iii) by a combination of (i) and (ii) so that the combined payment and cancellation of indebtedness equals such aggregate Repurchase Price. Upon delivery of such notice and the payment of the aggregate Repurchase Price in any of the ways described above, the Company shall become the legal and beneficial owner of the Unvested Unreleased Shares being repurchased and the all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unvested Unreleased Shares being repurchased by the Company. (c) Whenever the Company shall have the right to repurchase Unvested the Unreleased Shares hereunder, the Company may designate and assign one or more employees, officers, directors or stockholders shareholders of the Company or other persons or organizations to exercise all or a part of the Company's Repurchase Option under this Agreement and to purchase all or a part of the Unreleased Shares. If the Fair Market Value of the Unreleased Shares to be repurchased on the date of such Unvested Shares. designation or assignment (the "Repurchase FMV") exceeds the aggregate Repurchase Price of the Unreleased Shares, then each such designee or assignee shall pay the Company cash equal to the difference between the Repurchase FMV and the aggregate Repurchase Price of Unreleased Shares to be purchased. -4- (d) If the Company or its assignee does not elect to exercise the Repurchase Option conferred above by delivering to the Purchaser giving the requisite Repurchase Notice notice within ninety (90) days following the Purchaser's termination, Participant's termination as a Service Provider, the Repurchase Option shall terminate. (e) The Repurchase Option shall terminate in accordance with the vesting schedule contained in Purchaser's Option Agreement.View More
Repurchase Option. (a) If Purchaser's In the event Participant's continuous status as a Service Provider is terminated terminates for any reason, including for or no reason (including death and Disability, or Disability), the Company shall shall, upon the date of such termination (as reasonably fixed and determined by the Company), have the right and an irrevocable, exclusive option for a period of ninety (90) days from such date to purchase from Purchaser, or Purchaser's personal representative, as repurchase up ...to that number of Shares which constitute the case may be, all Unreleased Shares (as defined in Part I of this Agreement) at the Purchaser's Unvested Shares as of the date of such termination at a price Purchase Price per share (the "Repurchase Price") equal to the lower of (i) the per share price paid by the Purchaser for each such Share and (ii) the Fair Market Value of a Share on the date the Company delivers the Repurchase Notice (the "Repurchase Option"). (b) Upon the occurrence of such termination, The Repurchase Option shall be exercised by the Company may exercise its Repurchase Option by delivering personally written notice to Participant or by registered mail, to Purchaser (or his or her transferee or legal representative, as the case may be) with Participant's executor (with a copy to the escrow agent described Escrow Holder (as defined in Section 2 below, a notice in writing indicating the Company's intention to exercise the Repurchase Option (the "Repurchase Notice") 11)) AND, at the Company's option, (i) by delivering to the Purchaser (or the Purchaser's transferee Participant or legal representative) Participant's executor a check in the amount of the aggregate Repurchase Price, or (ii) by the Company canceling an amount of the Purchaser's Participant's indebtedness to the Company equal to the aggregate Repurchase Price, or (iii) by a combination of (i) and (ii) so that the combined payment and cancellation of indebtedness equals such aggregate Repurchase Price. Upon delivery of such notice and the payment of the aggregate Repurchase Price in any of the ways described above, the Company shall become the legal and beneficial owner of the Unvested Unreleased Shares being repurchased and the all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unvested Unreleased Shares being repurchased by the Company. -4- (c) Whenever the Company shall have the right to repurchase Unvested the Unreleased Shares hereunder, the Company may designate and assign one or more employees, officers, directors or stockholders shareholders of the Company or other persons or organizations to exercise all or a part of the Company's Repurchase Option under this Agreement and to purchase all or a part of the Unreleased Shares. If the Fair Market Value of the Unreleased Shares to be repurchased on the date of such Unvested Shares. designation or assignment (the "Repurchase FMV") exceeds the aggregate Repurchase Price of the Unreleased Shares, then each such designee or assignee shall pay the Company cash equal to the difference between the Repurchase FMV and the aggregate Repurchase Price of Unreleased Shares to be purchased. (d) If the Company or its assignee does not elect to exercise the Repurchase Option conferred above by delivering to the Purchaser giving the requisite Repurchase Notice notice within ninety (90) days following the Purchaser's termination, Participant's termination as a Service Provider, the Repurchase Option shall terminate. (e) The Repurchase Option shall terminate in accordance with the vesting schedule contained in Purchaser's Option Agreement.View More
Repurchase Option. (a) If Purchaser's status as a Service Provider is terminated for any reason, including for death and or Disability, the Company shall have the right and option for ninety (90) days from such date to purchase from Purchaser, or Purchaser's personal representative, as the case may be, up to all of the Purchaser's Unvested Shares as of the date of such termination at a price per share (the "Repurchase Price") equal to the lower of (i) the per share price paid by the Purchaser for each such Share a...nd (ii) the Fair Market Value of a Share on the date the Company delivers the Repurchase Notice Shares (the "Repurchase Option"). (b) Upon the occurrence of such termination, the Company may exercise its Repurchase Option by delivering personally or by registered mail, to Purchaser (or his or her transferee or legal representative, as the case may be) with a copy to be), within ninety (90) days of the escrow agent described in Section 2 below, termination, a notice in writing indicating the Company's intention to exercise the Repurchase Option (the "Repurchase Notice") AND, and setting forth a date for closing not later than thirty (30) days from the mailing of such notice. The closing shall take place at the Company's option, (i) by delivering to office. At the Purchaser (or closing, the Purchaser's transferee or legal representative) a check in the amount holder of the aggregate Repurchase Price, or (ii) by the Company canceling an amount of the Purchaser's indebtedness to the Company equal to the aggregate Repurchase Price, or (iii) by a combination of (i) and (ii) so that the combined payment and cancellation of indebtedness equals such aggregate Repurchase Price. Upon delivery of such notice and payment of the aggregate Repurchase Price in any of the ways described above, the Company shall become the legal and beneficial owner of certificates for the Unvested Shares being repurchased and transferred shall deliver the rights and interests therein stock certificate or relating thereto, certificates evidencing the Unvested Shares, and the Company shall have deliver the right to retain and transfer to its own name the number of Unvested Shares being repurchased by the Company. (c) Whenever the Company shall have the right to repurchase Unvested Shares hereunder, the Company may designate and assign one or more employees, officers, directors or stockholders of the Company or other persons or organizations to exercise all or a part of the Company's Repurchase Option under this Agreement and purchase all or a part of such Unvested Shares. (d) price therefor. If the Company does not elect to exercise the Repurchase Option conferred above by delivering to the Purchaser giving the requisite Repurchase Notice notice within ninety (90) days following the Purchaser's termination, the Repurchase Option shall terminate. (e) (c) At its option, the Company may elect to make payment for the Unvested Shares to a bank selected by the Company. The Company shall avail itself of this option by a notice in writing to Purchaser stating the name and address of the bank, date of closing, and waiving the closing at the Company's office. (d) The Repurchase Option shall terminate lapse in accordance with the vesting schedule contained in Purchaser's Optionee's Option Agreement. View More
Repurchase Option. (a) If Purchaser's status as a Service Provider is terminated for any reason, including for death and Disability, the Company shall have the irrevocable and exclusive right and option for ninety (90) days from such date to purchase from Purchaser, or Purchaser's personal representative, as the case may be, all of the Purchaser's Unvested Shares as of the date of such termination at a price per share (the "Repurchase Price") equal to the lower of (i) the per share price paid by the Purchaser for ...each such Share and (ii) the Fair Market Value of a Share on the date the Company delivers the Repurchase Notice Shares (the "Repurchase Option"). (b) Upon the occurrence of such termination, the The Company may exercise its Repurchase Option by delivering personally as to any or by registered mail, all of the Unreleased Shares at any time after the Purchaser ceases to be a Service Provider; provided, however, that without requirement of further action on the part of either party hereto, the Repurchase Option shall be deemed to have been automatically exercised as to all Unreleased Shares at 5:00 p.m. (Pacific Time) as of the date that is 60 days following the date the Purchaser (or his ceases to be a Service Provider, unless the Company declines in writing to exercise its Repurchase Option prior to such time. (b) If the Company decides not to exercise its Repurchase Option, it shall notify the Purchaser in writing within 60 days of the date the Purchaser ceases to be a Service Provider. If the Repurchase Option is exercised or her transferee or legal representative, as deemed exercised, within 90 days of the case may be) date the Purchaser ceases to be a Service Provider, the Company shall deliver payment to the Purchaser, with a copy to the escrow agent described in Section 2 below, a notice hereof, by any of the following methods, in writing indicating the Company's intention to exercise the Repurchase Option (the "Repurchase Notice") AND, at the Company's option, sole discretion: (i) by delivering to the Purchaser (or or the Purchaser's transferee or legal representative) executor a check in the amount of the aggregate Repurchase Price, or repurchase price, (ii) by the Company canceling an amount of the Purchaser's indebtedness to the Company equal to the aggregate Repurchase Price, repurchase price, or (iii) by a any combination of (i) and (ii) so such that the combined payment and cancellation of indebtedness equals such the aggregate Repurchase Price. Upon delivery of such notice and payment repurchase price. (c) The Company in its sole discretion may assign all or part of the aggregate Repurchase Price in any of the ways described above, the Company shall become the legal and beneficial owner of the Unvested Shares being repurchased and the rights and interests therein or relating thereto, and the Company shall have the right Option to retain and transfer to its own name the number of Unvested Shares being repurchased by the Company. (c) Whenever the Company shall have the right to repurchase Unvested Shares hereunder, the Company may designate and assign one or more employees, officers, directors or stockholders of the Company or other persons or organizations to exercise all or a part of organizations. (d) In the Company's Repurchase Option under this Agreement and purchase all or a part of such Unvested Shares. (d) If the Company does not elect to exercise event that the Repurchase Option conferred above by delivering to is exercised or deemed exercised, the sole right and remedy of the Purchaser thereafter shall be to receive the requisite Repurchase Notice within ninety (90) days following repurchase price, and in no case shall the Purchaser's termination, Purchaser have any claim of ownership as to any of the Repurchase Option shall terminate. Unreleased Shares. (e) The Repurchase Option shall terminate in accordance with the vesting schedule contained in Purchaser's Option Agreement. View More
Repurchase Option. (a) If Purchaser's status as a Service Provider is terminated for any reason, including for death cause, death, and Disability, the Company shall have the right and option for ninety (90) days from such date to purchase from Purchaser, or Purchaser's personal representative, as the case may be, all of the Purchaser's Unvested Shares as of the date of such termination at a the price per share paid by the Purchaser for such Shares (the "Repurchase Price") Option"). Notwithstanding the foregoing, i...f the Purchaser purchased such Shares by executing a promissory note in favor of the Company, the price to be paid by the Company upon exercise of its Repurchase Option shall be equal to the lower of (i) the per share then current fair market value of such Shares, as determined by the Company or (ii) the price paid by the Purchaser for each such Share and (ii) the Fair Market Value of a Share on the date the Company delivers the Repurchase Notice (the "Repurchase Option"). Shares. (b) Upon the occurrence of such termination, the Company may exercise its Repurchase Option by delivering personally or by registered mail, to Purchaser (or his or her transferee or legal representative, as the case may be) with a copy to be), within ninety (90) days of the escrow agent described in Section 2 below, termination, a notice in writing indicating the Company's intention to exercise the Repurchase Option (the "Repurchase Notice") AND, and setting forth a date for closing not later than thirty (30) days from the mailing of such notice. The closing shall take place at the Company's option, (i) by delivering to office. At the Purchaser (or closing, the Purchaser's transferee or legal representative) a check in the amount holder of the aggregate Repurchase Price, or (ii) by the Company canceling an amount of the Purchaser's indebtedness to the Company equal to the aggregate Repurchase Price, or (iii) by a combination of (i) and (ii) so that the combined payment and cancellation of indebtedness equals such aggregate Repurchase Price. Upon delivery of such notice and payment of the aggregate Repurchase Price in any of the ways described above, the Company shall become the legal and beneficial owner of certificates for the Unvested Shares being repurchased and transferred shall deliver the rights and interests therein stock certificate or relating thereto, certificates evidencing the Unvested Shares, and the Company shall have deliver the right purchase price therefor. (c) At its option, the Company may elect to retain and transfer to its own name make payment for the number of Unvested Shares being repurchased to a bank selected by the Company. (c) Whenever the The Company shall have avail itself of this option by a notice in writing to Purchaser stating the right to repurchase Unvested Shares hereunder, the Company may designate name and assign one or more employees, officers, directors or stockholders address of the Company or other persons or organizations to exercise all or a part bank, date of closing, and waiving the closing at the Company's Repurchase Option under this Agreement and purchase all or a part of such Unvested Shares. office. (d) If the Company does not elect to exercise the Repurchase Option conferred above by delivering to the Purchaser giving the requisite Repurchase Notice notice within ninety (90) days following the Purchaser's termination, the Repurchase Option shall terminate. (e) The Repurchase Option shall terminate in accordance with the vesting schedule contained in Purchaser's Optionee's Option Agreement. View More
Repurchase Option. (a) If Purchaser's status as a Service Provider is terminated A. Option. In the event the Purchaser ceases to be an employee, consultant, advisor, officer or director of the Company (a "Service Provider") for any or no reason, including for death and Disability, the Company shall have the right and option for ninety (90) days from such date to purchase from Purchaser, or Purchaser's personal representative, as the case may be, all including, without limitation, by reason of the Purchaser's Unves...ted Shares as death or disability (as defined in Section 22(e)(3) of the Internal Revenue Code of 1986, as amended (the "Code"), "Disability"), resignation or involuntary termination, the Company shall, from such time (as determined by the Company in its discretion), have the right, but not the obligation (the "Repurchase Option"), for a period of 90 days from the date of such termination the Purchaser ceases to be a Service Provider, to repurchase any Shares which have not yet been released from the Repurchase Option (the "Unreleased Shares") at a price per share (the "Repurchase Price") equal to the lower of (i) the per share price paid Purchase Price (the "Repurchase Price"). The Repurchase Option shall be exercised by the Purchaser for each such Share and (ii) the Fair Market Value of a Share on the date the Company delivers the Repurchase Notice (the "Repurchase Option"). (b) Upon the occurrence of such termination, the Company may exercise its Repurchase Option by delivering personally or by registered mail, to Purchaser (or his or her transferee or legal representative, as the case may be) with a copy written notice to the escrow agent described Purchaser or, in Section 2 below, a notice in writing indicating the Company's intention to exercise event of the Repurchase Option (the "Repurchase Notice") AND, Purchaser's death, the Purchaser's executor and, at the Company's option, (i) by delivering to the Purchaser (or or the Purchaser's transferee or legal representative) executor a check in the amount of the aggregate Repurchase Price, or (ii) by the Company canceling an amount of the Purchaser's indebtedness to the Company equal to the aggregate Repurchase Price, or (iii) by a combination of (i) and (ii) so such that the combined payment and cancellation of indebtedness equals such the aggregate Repurchase Price. Upon delivery of such notice and the payment of the aggregate Repurchase Price in any of the ways described above, Price, the Company shall become the legal and beneficial owner of the Unvested Unreleased Shares being repurchased and the all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unvested Unreleased Shares being repurchased by the Company. (c) Whenever B. Assignability. The Company in its sole discretion may assign all or part of the Company shall have the right Repurchase Option to repurchase Unvested Shares hereunder, the Company may designate and assign one or more employees, officers, directors or stockholders of the Company or other persons or organizations to exercise all or a part of the Company's Repurchase Option under this Agreement and purchase all or a part of such Unvested Shares. (d) If the Company does not elect to exercise the Repurchase Option conferred above by delivering to the Purchaser the requisite Repurchase Notice within ninety (90) days following the Purchaser's termination, the Repurchase Option shall terminate. (e) The Repurchase Option shall terminate in accordance with the vesting schedule contained in Purchaser's Option Agreement. organizations. View More
Repurchase Option. (a) If Purchaser's status as a Service Provider is terminated A. Option. In the event the Purchaser ceases to be an employee, consultant, advisor, officer or director of the Company (a "Service Provider") for any or no reason, including for death and Disability, the Company shall have the right and option for ninety (90) days from such date to purchase from Purchaser, or Purchaser's personal representative, as the case may be, all including, without limitation, by reason of the Purchaser's Unves...ted Shares as death or disability (as defined in Section 22(e)(3) of the Internal Revenue Code of 1986, as amended (the "Code"), "Disability"), resignation or involuntary termination, the Company shall, from such time (as determined by the Company in its discretion), have the right, but not the obligation (the "Repurchase Option"), for a period of 90 days from the date of such termination the Purchaser ceases to be a Service Provider, to repurchase any Shares which have not yet been released from the Repurchase Option (the "Unreleased Shares") at a price per share (the "Repurchase Price") equal to the lower lesser of (i) (x) the per share price paid by fair market value of the Purchaser for each such Share and (ii) shares at the Fair Market Value of a Share on the date the Company delivers the Repurchase Notice (the "Repurchase Option"). (b) Upon the occurrence of such termination, the Company may exercise its Repurchase Option by delivering personally or by registered mail, to Purchaser (or his or her transferee or legal representative, as the case may be) with a copy to the escrow agent described in Section 2 below, a notice in writing indicating the Company's intention to exercise time the Repurchase Option is exercised, as determined by the Company's board of directors and (y) the Purchase Price (the "Repurchase Notice") AND, Price"). The Repurchase Option shall be exercised by the Company by delivering written notice to the Purchaser or, in the event of the Purchaser's death, the Purchaser's executor and, at the Company's option, (i) by delivering to the Purchaser (or or the Purchaser's transferee or legal representative) executor a check in the amount of the aggregate Repurchase Price, or (ii) by the Company canceling an amount of the Purchaser's indebtedness to the Company equal to the aggregate Repurchase Price, or (iii) by a combination of (i) and (ii) so such that the combined payment and cancellation of indebtedness equals such the aggregate Repurchase Price. Upon delivery of such notice and the payment of the aggregate Repurchase Price in any of the ways described above, Price, the Company shall become the legal and beneficial owner of the Unvested Unreleased Shares being repurchased and the all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unvested Unreleased Shares being repurchased by the Company. (c) Whenever B. Assignability. The Company in its sole discretion may assign all or part of the Company shall have the right Repurchase Option to repurchase Unvested Shares hereunder, the Company may designate and assign one or more employees, officers, directors or stockholders of the Company or other persons or organizations to exercise all or a part of the Company's Repurchase Option under this Agreement and purchase all or a part of such Unvested Shares. (d) If the Company does not elect to exercise the Repurchase Option conferred above by delivering to the Purchaser the requisite Repurchase Notice within ninety (90) days following the Purchaser's termination, the Repurchase Option shall terminate. (e) The Repurchase Option shall terminate in accordance with the vesting schedule contained in Purchaser's Option Agreement. organizations. View More
Repurchase Option. (a) If Option. In the event the Purchaser's status as a Service Provider is terminated Termination for any or no reason, including for death and Disability, the Company shall have the right and option for ninety (90) days from such date to purchase from Purchaser, or Purchaser's personal representative, as the case may be, all including, without limitation, by reason of the Purchaser's Unvested Shares as death or Disability, resignation or involuntary termination, the Company shall, from such ti...me (as determined by the Company in its discretion), have the right, but not the obligation (the "Repurchase Option"), for a period of 90 days from the date of such termination the Purchaser's Termination, to repurchase any Shares which have not yet been released from the Repurchase Option (the "Unreleased Shares") at a price per share (the "Repurchase Price") equal to the lower lesser of (i) (x) the per share price paid by fair market value of the Purchaser for each such Share and (ii) shares at the Fair Market Value of a Share on the date the Company delivers the Repurchase Notice (the "Repurchase Option"). (b) Upon the occurrence of such termination, the Company may exercise its Repurchase Option by delivering personally or by registered mail, to Purchaser (or his or her transferee or legal representative, as the case may be) with a copy to the escrow agent described in Section 2 below, a notice in writing indicating the Company's intention to exercise time the Repurchase Option is exercised, as determined by the Company's board of directors (the "Board") in its sole discretion and (y) the Purchase Price (such lesser amount, the "Repurchase Notice") AND, Price"). The Repurchase Option shall be exercised by the Company by delivering written notice to the Purchaser or, in the event of the Purchaser's death, the Purchaser's executor and, at the Company's option, (i) by delivering to the Purchaser (or or the Purchaser's transferee or legal representative) executor a check in the amount of the aggregate Repurchase Price, or (ii) by the Company canceling an amount of the Purchaser's indebtedness to the Company equal to the aggregate Repurchase Price, or (iii) by a combination of (i) and (ii) so such that the combined payment and cancellation of indebtedness equals such the aggregate Repurchase Price. Upon delivery of such notice and the payment of the aggregate Repurchase Price in any of the ways described above, Price, the Company shall become the legal and beneficial owner of the Unvested Unreleased Shares being repurchased and the all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unvested Unreleased Shares being repurchased by the Company. (c) Whenever (b) Assignability. The Company in its sole discretion may assign all or part of the Company shall have the right Repurchase Option to repurchase Unvested Shares hereunder, the Company may designate and assign one or more employees, officers, directors or stockholders of the Company or other persons or organizations to exercise all or a part of the Company's Repurchase Option under this Agreement and purchase all or a part of such Unvested Shares. (d) If the Company does not elect to exercise the Repurchase Option conferred above by delivering to the Purchaser the requisite Repurchase Notice within ninety (90) days following the Purchaser's termination, the Repurchase Option shall terminate. (e) The Repurchase Option shall terminate in accordance with the vesting schedule contained in Purchaser's Option Agreement. organizations. View More
