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Document

Exhibit 10.26

GLYCOREGIMMUNE, INC.
Restricted Stock Award
This is a Restricted Stock Award dated as of April 2, 2015 from Glycoregimmune, Inc., a Delaware corporation (the “Corporation”), to Albert Agro (“Grantee”).
1.    Definitions.  As used herein:
(a)    “Award” means the award of Restricted Stock hereby granted.
(b)    “Board” means the Board of Directors of the Corporation.
(c)    “Cause” means (i) misappropriation of any funds or property of the Corporation, theft, embezzlement or fraud, (ii) willful misconduct, gross negligence, or breach of fiduciary duty that, in each case or in the aggregate, results in material harm to the Corporation, (iii) conviction of a felony or (iv) any other misconduct by the Grantee that is materially injurious to the financial condition or business reputation of, or is otherwise materially injurious to, the Corporation.
(d)    “Change of Control” shall have the meaning set forth in the definition of “Liquidity Event” below.
(e)    “Code” means the Internal Revenue Code of 1986, as amended.
(f)    “Date of Grant” means April 2, 2015, the date on which the Corporation awarded the Restricted Stock.
(g)    “Disability” means “disability,” as such term is defined in Section 22(e)(3) of the Code.
(h)    “Employer” means the Corporation or a Subsidiary of the Corporation for which Grantee is performing services on the Vesting Date.
(i)    “IPO” means the Corporation’s first underwritten public offering of its common stock under the Securities Act of 1933, as amended.
(j)    “Liquidity Event” means the first to occur of a Change of Control of the Corporation or an IPO.  The term “Change of Control” shall mean (i) the acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), other than the Corporation or any stockholder of the Corporation of this Restricted Stock Award, of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 50% (on a fully diluted, as converted basis) of the outstanding voting securities of the Corporation; or (ii) the sale or other disposition by the Corporation of all or substantially all of its assets; or (iii) the merger or consolidation by the Corporation with or into another entity, as a result of which merger or consolidation, less than 50% of the voting securities of the surviving entity shall be owned by stockholders of the Corporation that were stockholders immediately prior to such merger or consolidation; or (iv) the dissolution, winding up or liquidation of the Corporation; provided, however, that, no Change of Control shall be deemed to occur by reason of the issuance by the Corporation of shares of the Corporation’s capital stock in connection with a capital-raising transaction.
(k)    “Performance Reasons” means (i) failure or refusal to faithfully and diligently perform the usual and customary duties for the Grantee’s employment, director or consulting relationship with the Corporation, and failure to remedy such failure or refusal within 15 days after receipt of written notice provided by the Corporation to the Grantee; or (ii) failure or refusal to materially comply with any reasonable policies, standards or regulations of the Corporation applicable to the Grantee, and failure to remedy such failure or refusal within 15 days after receipt of written notice provided by the Corporation to the Grantee.
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(l)    “Restriction Period” means, with respect to each Share of Restricted Stock, the period beginning on the Date of Grant and ending on the applicable Vesting Date.
(m)    “Restricted Stock” means the 1,104 Shares which are the subject of the Award hereby granted.  As of the date of grant, the Restricted Stock is valued at $1,000 per share.
(n)    “Rule 16b-3” means Rule 16b-3 promulgated under the 1934 Act, as in effect from time to time.
(o)    “Securities Act” means the Securities Act of 1933, as amended.
(p)    “Share” or “Shares” means a share or shares of the Corporation’s common stock, par value $0.01 per share.
(q)    “Subsidiary” means, in respect of the Corporation or parent, a subsidiary company, whether now or hereafter existing, as defined in Sections 424(f) and (g) of the Code.
(r)    “Vesting Date” means the date of a Liquidity Event, or, if earlier, death or Disability of the Grantee or the termination by the Corporation or the Corporation’s shareholders, as applicable, of the Grantee’s service relationship with the Corporation, whether as an employee, member of the Board or consultant other than for Cause or Performance Reasons.
(s)    “1934 Act” means the Securities Exchange Act of 1934, as amended.
The Corporation anticipates effecting a 1,000 for 1 stock split of its common stock on or about the date of this Award.  All share and price per share numbers in this Award are presented on a pre-stock split basis.
2.    Grant of Restricted Stock.  Subject to the terms and conditions set forth herein, the Corporation hereby grants to Grantee the Restricted Stock and Grantee hereby acknowledges the restrictions on the Restricted Stock.
3.    Restrictions on Restricted Stock.  Subject to the terms and conditions set forth herein and notwithstanding any other agreement to which the Grantee is a party, during the Restriction Period, Grantee shall not be permitted to sell, transfer, pledge, hypothecate, assign or otherwise dispose of the Restricted Stock.  The Corporation shall maintain possession of the certificates respecting the Restricted Stock during the Restriction Period.  Any attempted sale, transfer, pledge, hypothecation, assignment or other disposition of any Restricted Stock in violation of this Award shall be void and of no effect, and the Corporation shall have the right to disregard any such transfer on its books and records and to issue “stop transfer” instructions to its transfer agent, if any.
4.    Vesting.  Subject to the terms and conditions set forth herein, the restrictions set forth in Paragraph 3 on each Share of Restricted Stock shall lapse on the Vesting Date if provided that throughout the Restriction Period, Grantee has continuously been an employee or director of, or consultant to, the Company or any Subsidiary.  Upon the lapse of the restrictions, subject to the terms of any applicable Shareholder’s Agreement, the Grantee will be free to hold, sell, transfer, pledge, assign or otherwise encumber the Shares.
5.    Forfeiture of Restricted Stock.  If Grantee’s employment or other service relationship with the Corporation and all Subsidiaries terminates during the Restriction Period for any reason other than death, Disability, involuntary termination by the Corporation (other than for Cause or Performance Reasons) or pursuant to a Change of Control or IPO, Grantee shall forfeit any remaining Restricted Stock as of the date of such termination of employment or other service relationship.  Upon a forfeiture of the remaining Restricted Stock as provided in this Section 5, the remaining Restricted Stock shall be deemed canceled.  If Grantee’s employment or other service relationship with the Corporation and all Subsidiaries terminates during the Restriction Period as a result of death, Disability, involuntary termination by the Corporation (other than for Cause or Performance Reasons) or pursuant to 
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a Change of Control or IPO, the restrictions on the remaining Restricted Stock shall lapse as of the date of such termination of employment or other service relationship.
6.    Voting, Dividends and Recapitalization.  During the Restriction Period, Grantee shall have the right to vote the Restricted Stock and shall have the right to receive dividends, if any, paid on such Restricted Stock, in such amount and at such times as received by all other stockholders of the Corporation; provided that to the extent any such Shares of Restricted Stock are forfeited to the Corporation pursuant to Section 5 above, such rights shall terminate immediately with respect to the Shares of Restricted Stock that are so forfeited.  In the event of any changes in the capital stock of the Corporation by reason of any stock dividends, split-ups or combinations of shares, reclassifications, mergers, consolidations, reorganizations or liquidations while any shares comprising the Restricted Stock shall be subject to restrictions on transfer and forfeiture hereunder, any and all new, substituted or additional securities to which Grantee is entitled by reason of the ownership of such shares of Restricted Stock shall be subject immediately to the terms, conditions and restrictions of this Award.
7.    Notices.  For the purposes of this Award, notices and all other communications provided for in the Award shall be in writing and will be deemed to have been duly given when personally delivered, by facsimile transmission or sent by certified mail, return receipt requested, postage prepaid, or by expedited (overnight) courier with established national reputation, shipping prepaid or billed to sender, in either case addressed to the respective addresses last given by each party to the other (provided that all notices to the Corporation must be directed to the attention of the Secretary of the Corporation) or to such other address as either party may have furnished to the other in writing in accordance herewith.  All notices and communication will be deemed to have been received on the date of delivery thereof, or on the second day after deposit thereof with an expedited courier service, except that notice of change of address will be effective only upon receipt.
									
	Corporation at:
		Glycoregimmune, Inc.

			
	Grantee at:
		Albert Agro

8.    Applicable Laws.  The Corporation may from time to time impose any conditions on the Restricted Stock as it deems necessary or advisable to ensure that the Award satisfies the conditions of applicable laws.  In addition, the grant of Restricted Stock is intended to be exempt from the requirements of Section 409A of the Code, and, to the extent that further guidance is issued under Section 409A of the Code after the date of this Award, the Corporation may make any changes to this Award as are necessary to bring this Award into compliance with the applicable exemptions under Section 409A of the Code and the Treasury regulations issued thereunder.
9.    Delivery of Shares.  Except as otherwise provided in Section 8, upon the respective Vesting Dates, the Corporation shall notify Grantee that the Restriction Period for the applicable portion of the Restricted Stock has lapsed.  By the later of 10 business days following each Vesting Date, the Corporation will deliver to Grantee a certificate for the applicable portion of the Restricted Stock without any legend or restrictions, except for such restrictions as may be imposed by the Corporation, in its sole judgment, under this Section 9, provided that no certificates for Shares will be delivered to Grantee until appropriate arrangements have been made with Employer for the withholding of any taxes which may be due with respect to such Shares.  The Corporation may condition delivery of certificates for Shares upon the prior receipt from Grantee of any undertakings which it may determine are required to assure that the certificates are being issued in compliance with federal and state securities laws.
10.    Stock Power; Power of Attorney.  Concurrent with the execution and delivery of this Award, and as an express condition to this Award, the Grantee shall deliver to the Corporation an executed stock power in the form attached hereto as Appendix A, in blank, with respect to the Restricted Stock.  The Grantee, by acceptance of this award, shall be deemed to appoint, and does so appoint by execution of this Award, the Corporation and each of its authorized representatives as the Grantee’s attorney(s)-in-fact to effect any transfer of unvested, forfeited shares to the Corporation as may be required or permitted pursuant to this Award and to execute such documents as the Corporation or such representative(s) deem necessary or advisable in connection with any such transfer.
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11.    Tax Matters.  The Restricted Stock is intended to constitute property that is subject to a substantial risk of forfeiture during the Restriction Period, and subject to federal income tax in accordance with Section 83 of the Code.  Section 83 of the Code generally provides that Grantee will recognize compensation income with respect to each installment of the Restricted Stock on such installment’s Vesting Date in an amount equal to the then fair market value of the shares for which restrictions have lapsed.  Alternatively, Grantee may elect, pursuant to Section 83(b) of the Code, to recognize compensation income for all or any part of the Restricted Stock at the Date of Grant in an amount equal to the fair market value of the Restricted Stock subject to the election on the Date of Grant.  Such election must be made within 30 days of the Date of Grant and Grantee shall immediately notify the Corporation if such an election is made.  Grantee should consult his or her tax advisors to determine whether a Section 83(b) election is appropriate.  If Grantee (after consulting with his or her tax advisors) decides to file an 83(b) election, then instructions and an election form are attached hereto as Appendix B.
12.    Award Not to Affect Employment.  The Award granted hereunder shall not confer upon Grantee any right to continue in the employment or other service relationship of the Corporation or any Subsidiary or affiliate of the Corporation.
13.    Securities Laws Representations.  
(a)    The Grantee acknowledges that the Shares of Restricted Stock have not been and will not be registered under the Securities Act or any other state securities laws, and therefore may not be resold without compliance with the Securities Act and the applicable state securities laws.  The Shares of Restricted Stock are being acquired solely for Grantee’s own account, for investment purposes only, and with no present intention of distributing, selling or otherwise disposing of it in connection with a distribution.
The Grantee covenants, warrants and represents that none of the Shares of Restricted Stock issued to Grantee will be offered, sold, assigned, pledged, hypothecated, transferred or otherwise disposed of except after full compliance with all of the applicable provisions of the Securities Act, the rules and regulations of the Securities and Exchange Commission and applicable state securities laws.  All the Restricted Stock shall bear the following legend in addition to any other legends required under this Award:
THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE TERMS AND CONDITIONS (INCLUDING A VESTING SCHEDULE AND FORFEITURE PROVISION AND RESTRICTIONS AGAINST TRANSFER) CONTAINED IN A RESTRICTED STOCK AWARD BETWEEN GLYCOREGIMMUNE, INC. (THE “CORPORATION”) AND THE REGISTERED HOLDER, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICE OF THE CORPORATION.
THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”) OR ANY STATE SECURITIES OR BLUE SKY LAWS.  SUCH SHARES HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE SOLD, TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR SUCH SHARES UNDER THE 1933 ACT AND ANY STATE SECURITIES OR BLUE SKY LAWS, UNLESS, IN THE OPINION (WHICH SHALL BE IN FORM AND SUBSTANCE SATISFACTORY TO THE CORPORATION) OF COUNSEL SATISFACTORY TO THE CORPORATION, SUCH REGISTRATION IS NOT REQUIRED.
(b)    The Grantee represents and warrants that (i) the Grantee has a preexisting personal or business relationship with the Corporation, including as a director of the Corporation, (ii) the Grantee has had an adequate opportunity to ask questions and receive answers from the officers of the Corporation concerning any and all matters relating to the transactions described herein including, without limitation, the background and experience of the current and proposed officers and directors of the Corporation, the plans for the operations of the business of the Corporation, and the business, operations and financial condition of the Corporation, and (iii) by reason of the Grantee’s business or financial experience, the Grantee has the capacity to protect the Grantee’s own interests in 
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connection with this Award of Restricted Stock.  The Grantee acknowledges that he or she has adequate information concerning the restrictions placed upon the Shares of Restricted Stock hereunder.  In addition, the Grantee acknowledges that the Corporation is under no obligation to grant the Shares of Restricted Stock to Grantee.
(c)    The Corporation may from time to time impose any conditions on the Restricted Stock as it deems necessary or advisable to ensure that the Award satisfies the conditions of Rule 16b-3, and that Shares are issued and resold in compliance with the Securities Act.
(d)    The Grantee is aware that his, her or its investment in the Corporation is a speculative investment that has limited liquidity and is subject to the risk of complete loss.  The Grantee is able, without impairing his, her or its financial condition, to hold the Restricted Stock for an indefinite period and to suffer a complete loss of an investment in the Restricted Stock.
(e)    The Grantee agrees that the offer and sale of the Restricted Stock has not been accomplished by the publication of any advertisement.
14.    Miscellaneous.
(a)    Administration.  The administration of this Award shall be governed by the Board.  All decisions made by the Board shall be final and binding on all persons, including the Corporation and any Grantee.  No member of the Board shall be liable for any good faith determination, act or failure to act in connection with the Award.  
(b)    Binding Effect.  Subject to the limitations set forth herein, this Award shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, legal representatives, successors and assigns.
(c)    Entire Agreement; Amendments.  This Award constitutes the entire agreement between the parties with respect to the Award and cannot be changed or terminated orally. No modification or waiver of any of the provisions hereof shall be effective unless in writing and signed by the party against whom it is sought to be enforced.
(d)    Counterparts.  This Award may be executed in one or more counterparts, both of which taken together shall constitute one and the same agreement.
(e)    Governing Law.  This Award shall be governed and construed and the legal relationships of the parties determined in accordance with the internal laws of the State of Delaware.
(f)    Severability.  In the event that any provision in this Award shall be held invalid or unenforceable, such provision shall be severable from, and such invalidity or unenforceability shall not be construed to have any effect on, the remaining provisions of this Award.
(g)    Section Headings.  The captions and section headings of this Award are for convenience of reference only and shall not be deemed to alter or affect any provision hereof.
(h)    Further Assurances.  Each of the parties hereto shall use its reasonable and diligent best efforts to proceed promptly with the transactions contemplated herein, to fulfill the conditions precedent for such party’s benefit or to cause the same to be fulfilled and to execute such further documents and other papers and perform such further acts as may be reasonably required or desirable to carry out the provisions hereof and the transactions contemplated herein.
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(i)    Legal Counsel.  The Grantee and the Corporation recognize that this is a legally binding contract and acknowledge and agree that they have had the opportunity to consult with legal counsel of their choice.
						
	GLYCOREGIMMUNE, INC.

		
		
	By:
	/s/ W. Marc Hertz

		W. Marc Hertz, President and CEO

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ACKNOWLEDGMENT
The Grantee acknowledges receipt of the Restricted Stock Award, a copy of which is attached hereto; represents that he or she has read and is familiar with the terms and provisions thereof; hereby accepts this Grant subject to all of the terms and provisions thereof; and represents that Grantee’s representations in Section 13 thereof are true.  The Grantee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Board of Directors upon any questions arising hereunder.
												
	Date:
	April 2, 2015
		/s/ Albert Agro

				Signature of Grantee

				
				Albert Agro

				Name of Grantee

				
				
				Address

				
				
				City, State, Zip Code

THE SHARES REPRESENTED BY THIS GRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE, TRANSFER OR DISTRIBUTION THEREOF.  NO SUCH SALE, TRANSFER OR DISTRIBUTION MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATING THERETO OR A SATISFACTORY OPINION OF COUNSEL SATISFACTORY TO THE CORPORATION THAT SUCH REGISTRATION IS NOT REQUIRED.
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APPENDIX A
STOCK POWER
FOR VALUE RECEIVED and pursuant to that certain Restricted Stock Award between Glycoregimmune, Inc. (the “Corporation”) and the individual named below (the “Individual”) dated as of April 2, 2015 the Individual hereby sells, assigns and transfers to the Corporation an aggregate _____ shares of common stock of the Corporation, standing in the Individual’s name on the books of Corporation and represented by stock certificate number(s) ____________________________ to which this instrument is attached, and hereby irrevocably constitutes and appoints ________________________________ as his or her attorney in fact and agent to transfer such shares on the books of the Corporation, with full power of substitution in the premises.
			
	
	Signature

	
	
	
	Print Name

(Instruction:  Please do not fill in any blanks other than the signature line.  The purpose of the assignment is to enable the Corporation to exercise its rights to reacquire the shares in the circumstances provided for in the Restricted Stock Award without requiring additional signatures on the part of the Individual.)
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APPENDIX B
SECTION 83(b) ELECTIONS
INSTRUCTIONS REGARDING SECTION 83(b) ELECTIONS:
1.    An 83(b) Election is Irrevocable.
2.    If you choose to make an 83(b) Election, an 83(b) Election Form must be filed with the Internal Revenue Service within 30 days after the date the Restricted Stock is transferred to you.  No exceptions to this rule are made.
3.    You must provide a copy of the 83(b) Election Form to the corporate secretary or other designated officer of the Corporation.  This copy should be provided to the Corporation at the same time that you file your 83(b) Election Form with the Internal Revenue Service.
4.    In addition to making the filing under Item 2 above, you must attach a copy of your 83(b) Election Form to your tax return for the taxable year in which you received the restricted stock.
5.    If you make an 83(b) Election and later forfeit the Restricted Stock, you will not be entitled to a deduction with respect to the gross income you recognized under the 83(b) Election.
You are urged to consult your personal tax advisor before making an 83(b) Election to discuss the consequences thereof and consider whether such an election is advisable under the circumstances (and to complete the election form).

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APPENDIX B
SECTION 83(b) ELECTION FORM
Election Pursuant to Section 83(b) of the Internal Revenue Code
to Include Property in Gross Income in Year of Transfer
The undersigned hereby makes an election pursuant to Section 83(b) of the Internal Revenue Code with respect to the property described below and supplies the following information in accordance with the regulations promulgated thereunder:
1.    The name, address, and taxpayer identification number of the undersigned are:
			
	
	
	

___-___-____
2.    Description of the property with respect to which the election is being made:  __________ (_____) shares of common stock, par value $0.01 per share, of ____________.
3.    Date on which the property was transferred is:  ____________.
4.    The taxable year of the taxpayer in which this property was transferred is:  ____.
5.    Nature of restrictions to which the property is subject:  stock is subject to potential forfeiture pursuant to the trust indenture and is also subject to forfeiture for failure to remain employed by _______ during the _______-year period following grant.
6.    The fair market value at the time of transfer (determined without regard to any restrictions other than restrictions which by their terms will never lapse) of the property with respect to which this election is being made is $________per share; with a cumulative fair market value of $________.
7.    The taxpayer did not pay any amount for these shares.
8.    A copy of this statement was furnished to Glycoregimmune, Inc. for whom taxpayer rendered the services underlying the transfer of such property.
												
	Date:
			
				Name:

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AMENDMENT TO RESTRICTED STOCK AWARD
This Amendment to Restricted Stock Award (the “Amendment”) is made and entered effective as of December 7, 2022 (the “Effective Date”) by and between Gri Bio, Inc. (formerly Glycoregimmune, Inc.), a Delaware corporation (the “Corporation”), and Albert Agro (“Grantee”) (each a “Party” and collectively, the “Parties”).
BACKGROUND
WHEREAS, Company has granted an award of Restricted Stock to the Grantee pursuant to the terms of a Restricted Stock Award dated as of April 2, 2015 (the “Restricted Stock Award Agreement”);
WHEREAS, the Parties desire to amend a certain term of the Restricted Stock Award Agreement.
NOW THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree to amend the Restricted Stock Award Agreement as follows:
1.    Section 1(i) of the Restricted Stock Award Agreement is hereby amended and restated in its entirely with the following:
    (i)    “IPO” means the date of the expiration of the lock-up period imposed on the Grantee following the completion of the Corporation’s first underwritten public offering of its common stock under the Securities Act of 1933, as amended.
2.    Except as expressly set forth in this Amendment, the provisions of the Restricted Stock Award Agreement shall remain in full force and effect, in their entirety, in accordance with their terms.
This Amendment may be executed in two or more counterparts, and by different parties hereto on separate counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  For all purposes, an electronic signature shall be treated as an original.
[signatures appear on following page]
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IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first written above.
						
	COMPANY:

		
	GRI BIO, INC.

		
		
	By:
	/s/ W. Marc Hertz

	Name: W. Marc Hertz

	Title: President and Chief Executive Officer

		
		
		
	GRANTEE:

		
	ALBERT AGRO
		
		
	/s/ Albert AgroDocument

Exhibit 10.27

GLYCOREGIMMUNE, INC.
RESTRICTED STOCK PURCHASE AGREEMENT
VIPIN KUMAR CHATURVEDI
THIS RESTRICTED STOCK PURCHASE AGREEMENT (this “Agreement”) is made as of March 28, 2009 by and between Glycoregimmune, Inc., a Delaware corporation (the “Company”), and Vipin Kumar Chaturvedi, an individual (the “Purchaser”).
THE PARTIES HEREBY AGREE AS FOLLOWS:
1.    Purchase of Shares.
1.1    Purchase.  The Purchaser hereby purchases, and the Company hereby sells to the Purchaser, Three Thousand Five Hundred (3,500) shares (the “Shares”) of the Company’s Common Stock (the “Common Stock”) at a cash purchase price of $0.01 per Share (the “Cash Purchase Price”) plus the additional consideration set forth in Section 1.2 below.
1.2    Consideration.  Concurrently with the execution of this Agreement, the Purchaser shall, in exchange for the Shares:
(a)    pay, in cash, to the Company the total Cash Purchase Price of Thirty Five Dollars ($35.00);
(b)    assign to the Company certain intellectual property rights, pursuant to that certain Assignment of Intellectual Property, Know-How and Inventions Agreement dated as of the date hereof between the Company and the Purchaser and in the form attached hereto as Exhibit A (the “Assignment Agreement”);
(c)    execute, in favor of the Company (with the Purchaser’s status as a Service Provider (as defined below) deemed to constitute a consulting relationship (or, when applicable, an employment relationship) with the Company), that certain Proprietary Information and Inventions Agreement dated as of the date hereof and in the form attached hereto as Exhibit B (the “PI&I Agreement”); and
(d)    deliver to the Secretary of the Company a duly executed blank Assignment Separate from Certificate in the form attached hereto as Exhibit C and any additional documents required by the Company as a condition for the purchase of the Shares.
The Company and the Purchaser agree that (i) the fair market value of the intellectual property rights assigned by the Purchaser to the Company (as well as any other consideration or value received by the Company) pursuant to the Assignment Agreement and the PI&I Agreement is currently negligible, such that the value of the consideration received by the Company for the Shares effectively amounts to the Cash Purchase Price of $0.01 per Share, and (ii) the total purchase price is agreed to be at least 100% of the fair market value of the Shares.
1.3    Delivery of Certificates.  The certificates representing the Shares purchased hereunder and subject to the Company’s Repurchase Right (as defined in Article 5 below) shall be held in escrow by the Secretary of the Company (as provided in Article 6 below).
2.    Securities Law Compliance.
2.1    Exemption From Registration.  The Shares have not been registered under the Securities Act of 1933, as amended (the “1933 Act”), and are being issued to the Purchaser in reliance upon the exemption from such registration provided by Section 4(2) of the 1933 Act based on the representations and warranties made by the Purchaser herein.

2.2    Restricted Securities.
(a)    The Purchaser hereby confirms that the Purchaser has been informed that the Shares are “restricted securities” under the 1933 Act and may not be resold or transferred unless the Shares are first registered under the federal securities laws or unless an exemption from such registration is available. Accordingly, the Purchaser hereby acknowledges that the Purchaser is prepared to hold the Shares for an indefinite period of time.
(b)    The Purchaser is aware of the adoption of Rule 144 by the Commission, promulgated under the 1933 Act (“Rule 144”), which permits limited public resales of securities acquired in a nonpublic offering, subject to the satisfaction of certain conditions, including, among other things, the following: (i) the availability of certain current public information about the issuer; (ii) the sale being through a broker in an unsolicited “broker’s transaction”; and (iii) the amount of securities being sold during any three (3) month period not exceeding specified limitations.  The Purchaser is aware that Rule 144 is not presently available to exempt the sale of the Shares from the registration requirements of the 1933 Act.  The Purchaser further represents that the Purchaser understands that at the time the Purchaser wishes to sell the Shares there may be no public market upon which to make such a sale, and that, even if such a public market exists for the Common Stock, the Company may not satisfy the current public information requirement of Rule 144 or other conditions under Rule 144 which are required of the Company.  As a result of the foregoing, the Purchaser understands that the Purchaser may be precluded from selling the Shares under Rule 144.
(c)    The Purchaser represents that (i) prior to acquisition of the Shares, the Purchaser acquired sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Shares; (ii) the Purchaser has such knowledge and experience in financial and business matters as to make the Purchaser capable of evaluating the risks of the prospective investment and to make an informed investment decision; and (iii) the Purchaser is able to bear the economic risk of the Purchaser’s investment in the Shares. The Purchaser agrees not to make, without the prior written consent of the Company, any public offering or sale of the Shares although permitted to do so pursuant to Rule 144(k) promulgated under the 1933 Act, until the earlier of the date on which the Company effects its initial registered public offering pursuant to the 1933 Act or the date on which it becomes a registered company pursuant to section 12(g) of the Securities and Exchange Act of 1934, as amended.
2.3    Disposition of Shares. The Purchaser hereby agrees that the Purchaser shall not make any disposition of the Shares (other than a permitted transfer under Section 4.1 below) unless and until:
(a)    the Purchaser shall have notified the Company of the proposed disposition and provided a written summary of the terms and conditions of the proposed disposition;
(b)    the Purchaser shall have complied with all requirements of this Agreement applicable to the disposition of the Shares; and
(c)    the Purchaser, if requested by the Company, shall have provided the Company with an opinion of counsel in form and substance satisfactory to the Company, that
(i)    the proposed disposition does not require registration of the Shares under the 1933 Act or
(ii)    all appropriate action necessary for compliance with the registration requirements of the 1933 Act or the requirements of any exemption from registration available under the 1933 Act (including Rule 144) have been taken.
The Company shall not be required (x) to transfer on its books any Shares that have been sold or transferred in violation of the provisions of this Article 2 nor (y) to treat as the owner of the Shares, or otherwise to accord voting or dividend rights to, any transferee to whom the Shares have been transferred in contravention of this Agreement.

2.4    Restrictive Legends. In order to reflect the restrictions on the disposition of the Shares, the stock certificates for the Shares will be endorsed with restrictive legends, including the following legends as applicable:
(a)    “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 OR THE SECURITIES LAWS OF ANY STATE, AND MAY BE OFFERED AND SOLD ONLY IF REGISTERED AND QUALIFIED PURSUANT TO FEDERAL AND STATE SECURITIES LAWS OR IF THE COMPANY IS PROVIDED AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION AND QUALIFICATION UNDER FEDERAL AND STATE SECURITIES LAWS IS NOT REQUIRED.”
(b)    The legend set forth in Article 5 below.
(c)    Any legend(s) required by the authorities of any state in connection with the issuance of the Shares.
3.    Special Provisions.
3.1    Stockholder Rights. Until such time as the Company actually exercises its repurchase rights under this Agreement, the Purchaser (or any successor in interest) shall have all the rights of a stockholder (including voting and dividend rights) with respect to the Shares, including the Shares held in escrow under Article 6 below, subject, however, to the transfer restrictions of Article 4 below.
3.2    Section 83(b) Election. The Purchaser understands that under Section 83 of the Internal Revenue Code of 1986, as amended (the “Code”), the difference between the purchase price paid for the Shares and the fair market value of such Shares on the date any forfeiture restrictions applicable to such Shares lapse will be reportable as ordinary income at that time. For this purpose, the term “forfeiture restrictions” includes the right of the Company to repurchase the Shares under Article 5 below.  The Purchaser  understands that the Purchaser may elect to be taxed  at the time the Shares are acquired hereunder (which would result in a tax on the amount by which the fair market value of the Shares is in  excess of the purchase price, if any), rather than when such Shares cease to be subject to such forfeiture restrictions, by filing an election under Section 83(b) of the Code with the U.S. Internal Revenue Service within thirty (30) days after the date of purchase hereunder. The form for making this election is attached hereto as Exhibit D.  The Purchaser understands that failure to make this filing within such thirty (30) day  period will result in the recognition of ordinary income by Purchaser (in the event the fair market value of the Shares increases after the date of  purchase) as the forfeiture restrictions lapse (notwithstanding, for example and without limitation, the absence  of any ability by the Purchaser to sell the Shares at such time).
3.3    Market Stand-Off.
(a)    In connection with any underwritten public offering by the Company of its equity securities pursuant to an effective registration statement filed under the 1933 Act (including, without limitation, the Company’s initial public offering), the Purchaser shall not sell, make any short sale of, loan, hypothecate, pledge, grant any option for the purchase of, or otherwise dispose or transfer for value or agree to engage in any of the foregoing transactions with respect to any Shares without the prior written consent of the Company or its underwriters, for such period of time after the effective date of such registration statement as may be requested by the Company or such underwriters (not to exceed one hundred eighty (180) days).
(b)    The Purchaser shall be subject to the market stand-off provisions of this Section 3.3 with respect to underwritten public offerings of the Company’s equity securities following the initial such offering only if the officers and directors of the Company are also subject to similar arrangements.
(c)    In the event of any stock dividend, stock split, recapitalization, or other change affecting the Common Stock effected without receipt of consideration, then any new, substituted, or additional 

securities distributed with respect to the Shares shall be immediately subject to the provisions of this Section 3.3, to the same extent the Shares are at such time covered by such provisions.
3.4    Stop Transfer. In order to enforce the provisions of Section 3.3 above, the Company may impose stop-transfer instructions with respect to the Shares until the end of the applicable stand-off period.
4.    Transfer Restrictions.
4.1    Restriction on Transfer. The Purchaser shall not transfer, assign, encumber or otherwise dispose of any of the Shares that are subject to the Company’s Repurchase Right under Article 5 below; provided, however, that such restriction on transfer shall not be applicable if the Purchaser receives prior written consent from the Company to (i) a gratuitous transfer of the Shares made to the Purchaser’s spouse or issue, including adopted children, or to a trust for the exclusive benefit of the Purchaser or the Purchaser’s spouse or issue; or (ii) a transfer of title to the Shares effected pursuant to the Purchaser’s will or the laws of intestate succession.
4.2    Transferee Obligations. Each person (other than the Company) to whom the Shares are transferred (including, as applicable, by means of one of the permitted transfers specified in Section 4.1 above) must, as a condition precedent to such transfer, acknowledge in writing to the Company that such person is bound by the provisions of this Agreement and that the transferred Shares are subject to (i) the Company’s Repurchase Right granted hereunder (as applicable - i.e., to the extent that the transferred Shares are not vested free of such Repurchase Right) and (ii) the market stand-off provisions of Section 3.3 above, to the same extent such Shares would be so subject if retained by the Purchaser.
4.3    Definition of Owner. For purposes of Articles 5 and 6 below, the term “Owner” shall include the Purchaser and all subsequent holders of the Shares who derive their chain of ownership through a permitted transfer from the Purchaser (including, as applicable, in accordance with Section 4.1 above).
5.    Repurchase Right.
5.1    Grant.  The Company is hereby granted the right (the “Repurchase Right”), exercisable at any time during the ninety (90) day period following the date the Purchaser ceases (the “Cessation Date”) for any reason to be a Service Provider (as defined below) to the Company, to repurchase at the Cash Purchase Price all or (at the discretion of the Company) any portion of the Shares in which the Purchaser has not acquired a vested interest in accordance with Section 5.3 or Section 5.6 below as of the Cessation Date (the “Unvested Shares”); provided, however, that in no event shall such 90-day period terminate until at least ninety (90) days following such date upon which either (i) the Purchaser shall have provided written notice to the Company that the Purchaser is no longer a Service Provider (including, without limitation, in connection with notice of a Constructive Termination (defined below)) or (ii) the Company shall have provided the Purchaser with notice of a Board Determination (defined below) or a Termination for Convenience (defined below).  For purposes of this Agreement, the Purchaser shall be deemed to be a “Service Provider” to the Company for so long as the Purchaser either (x) is rendering services to the Company or one or more of its parent or subsidiary corporations as an employee, director or consultant or (y) remains willing and able, if requested by the Company, to render such services on such terms as the Company may reasonably specify (including, without limitation, on a full-time basis and free of competitive or capacity-oriented restrictions which would prevent the Purchaser’s reasonable ability to render such services); provided, however, that:
(a)    if the Company’s Board of Directors shall conclude (following notice to the Purchaser and an opportunity for the Purchaser to provide input to the Company’s Board of Directors), in its reasonable discretion, that either (x) the Purchaser is not (or has not been) performing services for the Company in a reasonably satisfactory manner or (y) the Purchaser is not (or has not been) reasonably willing and able to perform appropriate services for the Company on reasonable terms, then the Purchaser’s status as a Service Provider to the Company shall be deemed to have terminated upon (and the Cessation Date shall be the date of) the Company’s delivery of any notice to the Purchaser of such a conclusion by the Company’s Board of Directors (a “Board Determination”);

(b)    if the Company’s Board of Directors shall conclude, in its sole discretion and for any reason (or no reason), that the Company no longer requires the Purchaser’s services, then the Purchaser’s status as a Service Provider to the Company shall be deemed to have terminated upon (and the Cessation Date shall be the date of) the Company’s delivery of any notice to the Purchaser of such a conclusion by the Company’s Board of Directors (a “Termination for Convenience”), although in such an instance (as opposed to the foregoing clause (a)) the Purchaser shall be entitled to certain accelerated vesting as set forth in Section 5.6(a) below; and
(c)    in the instance of a Constructive Termination, then the Purchaser’s status as a Service Provider to the Company shall be deemed to have terminated upon (and the Cessation Date shall be the date of) the Company’s receipt of the required notice from the Purchaser thereof, although in such an instance (like the foregoing clause (b) and as opposed to the foregoing clause (a)) the Purchaser shall be entitled to certain accelerated vesting as set forth in Section 5.6(a) below.
5.2    Exercise of the Repurchase Right. The Repurchase Right shall be exercisable by written notice delivered to the Owner of the Unvested Shares prior to the expiration of the ninety (90) day period specified in Section 5.1 above. The notice shall indicate the number of Unvested Shares to be repurchased and the date on which the repurchase is to be effected, such date to be not more than thirty (30) days after the date of notice. To the extent one or more certificates representing the Unvested Shares may have been previously delivered out of escrow to the Owner, then the Owner shall, prior to the close of business on the date specified for the repurchase, deliver to the Secretary of the Company the certificates representing the Unvested Shares to be repurchased, properly endorsed for transfer.  The Company shall, concurrently with the receipt of such stock certificates, pay to the Owner in cash or cash equivalents (including the cancellation of any purchase-money indebtedness), an amount equal to the Cash Purchase Price previously paid for the Unvested Shares that are to be repurchased.
5.3    Termination of the Repurchase Right.
(a)    The Repurchase Right shall terminate with respect to any Unvested Shares for which it is not timely exercised under Section 5.2 above.  In addition, the Repurchase Right shall terminate with respect to any and all Shares in which the Purchaser vests in accordance with the schedule set forth in Section 5.3(b) below.  Accordingly, provided the Purchaser continues to be a Service Provider to the Company, the Purchaser shall acquire a vested interest in, and the Repurchase Right shall lapse with respect to, the Shares in accordance with the vesting schedule set forth in Section 5.3(b) below.
(b)    Measured from December 1, 2008, the Purchaser shall acquire a vested interest in the Shares, and the Repurchase Right shall lapse, as follows (provided the Purchaser continues to be a Service Provider to the Company):
(i)    an amount equal to 25% of the total Shares shall vest on December 1, 2009 (the “First Vesting Date”); and
(ii)    an amount equal to 1/48th of the total Shares shall vest on the last day of each successive month after the First Vesting Date until the Shares are vested in full.
All Shares as to which the Repurchase Right lapses shall, however, continue to be subject to the market stand-off provisions of Section 3.3 above.
5.4    Fractional Shares. No fractional shares shall be repurchased by the Company. Accordingly, should the Repurchase Right extend to a fractional share at the time the Purchaser ceases to be a Service Provider, then such fractional share shall be added to any fractional share in which the Purchaser is at such time vested in order to make one whole vested share no longer subject to the Repurchase Right.
5.5    Additional Shares or Substituted Securities.  In the event of any stock dividend, stock split, recapitalization or other change affecting the Common Stock effected without receipt of consideration, then any new, substituted or additional securities or other property (including money paid other than as a regular cash 

dividend) which is by reason of any such transaction distributed with respect to the Shares shall be immediately subject to the Repurchase Right, but only to the extent the Shares are at the time covered by the Repurchase Right.  Appropriate adjustments to reflect the distribution of such securities or property shall be made to the number of Shares hereunder and to the price per share to be paid upon the exercise of the Repurchase Right in order to reflect the effect of any such transaction upon the Company’s capital structure; provided, however, that the aggregate Cash Purchase Price shall remain the same.
5.6    Vesting Acceleration Events.
(a)    Termination for Convenience or Constructive Termination.  In the event of the occurrence of any Termination for Convenience or any Constructive Termination (defined below), then the Repurchase Right shall automatically terminate as of the related Cessation Date as to, and the Purchaser shall acquire a vested interest in, an amount of the then Unvested Shares equal to twenty-five percent (25%) of the Shares; provided, however, that if the Termination for Convenience or Constructive Termination occurs following a Corporate Transaction (as defined below), the Purchaser shall acquire a vested interest in one hundred percent (100%) of the Shares.
(b)    For purposes of this Agreement:
(i)    “Constructive Termination” means the Purchaser’s election in a written notice to the Company to terminate the Purchaser’s status as a Service Provider delivered to the Company within thirty (30) days of any of the following:
(1)    a material reduction in the Purchaser’s level of duties or responsibilities or the nature of the Purchaser’s functions;
(2)    if Purchaser is a full-time employee of the Company, a material reduction in the Purchaser’s base salary or potential total cash compensation (consisting of base salary and target bonus) so long as a similar reduction is not imposed on substantially all other similarly situated employees of the Company; or
(3)    if Purchaser is a full-time employee of the Company, a relocation of the Purchaser’s principal place of employment by more than seventy-five (75) miles, if the new location is both (A) more than seventy-five (75) miles from the Purchaser’s principal residence and (B) farther from the Purchaser’s principal residence than the Purchaser’s principal place of employment immediately before such relocation.
(ii)    A “Corporate Transaction” is defined as any of the following:
(1)    the acquisition of the Company by another entity by means of any transaction or series of related transactions (including, without limitation, any reorganization, merger or consolidation, but excluding any merger effected exclusively for the purpose of changing the domicile of the Company) unless, following the consummation thereof, the Company’s stockholders of record immediately prior thereto hold more than fifty percent (50%) of the voting power of the surviving or acquiring entity or any direct or indirect parent entity of any such entity (with reference to the provisions of Section 7.2 below for determining such status);
(2)    the sale, transfer or other disposition of all or substantially all of the assets of the Company by means of any transaction or series of related transactions unless, following the consummation thereof, the Company’s stockholders of record immediately prior thereto hold more than fifty percent (50%) of the voting power of the acquiring entity or any direct or indirect parent entity of any such entity (with reference to the provisions of Section 7.2 below for determining such status); or

(3)    a sale of all or substantially all of the capital stock of the Company unless, following the consummation thereof, the Company’s stockholders of record immediately prior thereto hold more than fifty percent (50%) of the voting power of the acquiring entity or any direct or indirect parent entity of any such entity (with reference to the provisions of Section 7.2 below for determining such status);
provided, however, that notwithstanding the foregoing, a Corporate Transaction shall not include any sale of securities by the Company the primary purpose of which is to generate financing for the Company.
5.7    Legend. In addition to the legends required by Section 2.4 above, all certificates representing Shares subject to the Company’s Right of Repurchase shall be endorsed with the following legend:
“THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD, TRANSFERRED, ENCUMBERED OR IN ANY MANNER DISPOSED OF, EXCEPT IN COMPLIANCE WITH THE TERMS OF A WRITTEN AGREEMENT BETWEEN THE COMPANY AND THE INITIAL HOLDER HEREOF. SUCH AGREEMENT PROVIDES FOR CERTAIN RESTRICTIONS ON TRANSFER OF THE SECURITIES, INCLUDING CERTAIN REPURCHASE RIGHTS IN FAVOR OF THE COMPANY UPON TERMINATION OF SERVICE WITH THE COMPANY. THE SECRETARY OF THE COMPANY WILL UPON WRITTEN REQUEST FURNISH A COPY OF SUCH AGREEMENT TO THE HOLDER HEREOF WITHOUT CHARGE.”
6.    Escrow.
6.1    Deposit. Upon issuance, the certificates for the Shares shall be deposited in escrow with the Secretary of the Company to be held in accordance with the provisions of this Article 6.  Each deposited certificate shall be accompanied by a duly executed Assignment Separate from Certificate in the form of Exhibit C, attached hereto.  The deposited certificates, together with any other assets or securities from time to time deposited with the Company pursuant to the requirements of this Agreement, shall remain in escrow until such time or times as the certificates (or other assets and securities) are to be released or otherwise surrendered for cancellation in accordance with Section 6.3 below. Upon delivery of the certificates (or other assets and securities) to the Company, the Owner shall be issued an instrument of deposit acknowledging the number of Shares (or other assets and securities) delivered in escrow to the Secretary of the Company.
6.2    Recapitalization. All regular cash dividends on the Shares (or other securities at the time held in escrow) shall be paid directly to the Owner and shall not be held in escrow. However, in the event of any stock dividend, stock split, recapitalization or other change affecting the Company’s outstanding Common Stock as a class effected without receipt of consideration or in the event of any corporate reorganization, any new, substituted or additional securities or other property which is by reason of such transaction distributed with respect to the Shares shall be immediately delivered to the Secretary of the Company to be held in escrow under this Article 6, but only to the extent the Shares are at the time subject to the escrow requirements of Section 6.1 above.
6.3    Release/Surrender. The Shares, together with any other assets or securities held in escrow hereunder, shall be subject to the following terms and conditions relating to their release from escrow or their surrender to the Company for repurchase and cancellation:
(a)    Should the Company exercise the Repurchase Right under Article 5 above with respect to any Unvested Shares, then the escrowed certificates for such Unvested Shares (together with any other assets or securities issued with respect thereto) shall be delivered to the Company for cancellation, concurrently with the payment to the Owner, in cash or cash equivalent (including the cancellation of any purchase-money indebtedness), of an amount equal to the aggregate Cash Purchase Price for such Unvested Shares, and the Owner shall have no further rights with respect to such Unvested Shares (or other assets or securities).
(b)    As the interest of Purchaser in the Shares (or any other assets or securities issued with respect thereto) vests in accordance with the provisions of Article 5 above, the certificates for such vested 

shares (as well as all other vested assets and securities) shall be released from escrow and delivered to the Owner, if requested by the Owner, in accordance with the following schedule:
(i)    Releases of vested shares (or other vested assets and securities) from escrow shall be effected at annual intervals, with the first such annual release to occur following the First Vesting Date;
(ii)    Upon Purchaser’s cessation of Service Provider status, any escrowed Shares (or other assets or securities) in which Purchaser is at the time vested shall be promptly released from escrow; and
(iii)    Upon any earlier termination of the Repurchase Right in accordance with the applicable provisions of Article 5 above, the Shares (or other assets or securities) at the time held in escrow hereunder shall promptly be released to the Owner as fully vested shares or other property.
(c)    All Shares (or other assets or securities) released from escrow in accordance with the provisions of subsection (b) above shall nevertheless remain subject to the market stand-off provisions of Section 3.3 above until such provisions terminate in accordance herewith.
7.    General Provisions.
7.1    Assignment. The Company may assign its Repurchase Rights under Article 5 above to any person or entity selected by the Company’s Board of Directors, including one or more stockholders of the Company.
7.2    Definitions. For purposes of this Agreement, the following provisions shall be applicable in determining the parent and subsidiary corporations of the Company:
(a)    Any corporation (other than the Company) in an unbroken chain of corporations ending with the Company shall be considered to be a parent corporation of the Company, provided each such corporation in the unbroken chain (other than the Company) owns, at the time of the determination, stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain.
(b)    Each corporation (other than the Company) in an unbroken chain of corporations beginning with the Company shall be considered to be a subsidiary of the Company, provided each such corporation (other than the last corporation) in the unbroken chain owns, at the time of the determination, stock possessing fiftypercent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain.
7.3    No Employment or Service Contract. Nothing in this Agreement shall confer upon Purchaser any right to continue in the service of the Company (or any parent or subsidiary corporation of the Company) for any period of time or restrict in any way the rights of the Company (or any parent or subsidiary corporation of the Company) or Purchaser to terminate the Service Provider status of Purchaser at any time for any reason whatsoever, with or without cause.
7.4    Notices. Any notice required in connection with (i) the Repurchase Right or (ii) the disposition of any Shares covered thereby shall be given in writing and shall be deemed effective upon personal delivery, upon deposit with a nationally recognized courier service, or upon deposit in the United States mail, registered or certified, postage prepaid and addressed to the party entitled to such notice at the address indicated below such party’s signature line on this Agreement or at such other address as such party may designate by ten (10) days advance written notice under this Section 7.4 to all other parties to this Agreement.

7.5    No Waiver. The failure of the Company (or its assignees) in any instance to exercise the Repurchase Right granted under Article 5 above shall not constitute a waiver of any other repurchase rights that may subsequently arise under the provisions of this Agreement or any other agreement between the Company and the Purchaser.  No waiver of any breach or condition of this Agreement shall be deemed to be a waiver of any other or subsequent breach or condition, whether of like or different nature.
7.6    Cancellation of Shares. If the Company (or its assignees) shall make available, at the time and place and in the amount and form provided in this Agreement, the consideration for the Shares to be repurchased in accordance with the provisions of this Agreement, then from and after such time, the person from whom such Shares are to be repurchased shall no longer have any rights as a holder of such Shares (other than the right to receive payment of such consideration in accordance with this Agreement), and such Shares shall be deemed purchased in accordance with the applicable provisions hereof and the Company (or its assignees) shall be deemed the owner and holder of such Shares, whether or not the certificates therefor have been delivered as required by this Agreement.
7.7    Purchaser Undertaking. The Purchaser hereby agrees to take whatever additional action and execute whatever additional documents the Company may in its judgment deem necessary or advisable in order to carry out the obligations or restrictions imposed on the Purchaser under this Agreement.
7.8    Agreement Is Entire Contract. This Agreement constitutes the entire contract between the parties hereto with regard to the subject matter hereof.
7.9    Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of California, as such laws are applied to contracts entered into and performed in such State.
7.10    Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument.
7.11    Successors and Assigns. The provisions of this Agreement shall inure to the benefit of, and be binding upon, the Company and its successors and assigns and the Purchaser and the Purchaser’s legal representatives, heirs, legatees, distributees, assigns and transferees by operation of law, whether or not any such person shall have become a party to this Agreement and have agreed in writing to join herein and be bound by the terms and conditions hereof.

IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year first indicated above.
						
	GLYCOREGIMMUNE, INC.
		
	By:  	/s/ W. Marc Hertz
	Title:	/s/ W. Marc Hertz

			
	PURCHASER: *
	
	
	/s/ Vipin Kumar Chaturvedi
	Vipin Kumar Chaturvedi

___________________________
*    I have received and retained the Code Section 83(b) election that was attached hereto as Exhibit D. As set forth in Section 3.2, I understand that I, and not the Company, will be responsible for completing the form and filing the election with the U.S. Internal Revenue Service and that if such filing is not completed within thirty (30) days after the date of this Agreement, I will forfeit the potentially significant tax benefits of Section 83(b) of the Code.  I understand further that such filing should be made by registered or certified mail, return receipt requested, and that I must retain two (2) copies of the completed form for filing with my state and federal tax returns for the current tax year and an additional copy for my records.

Spousal Consent
Neerja Chaturvedi (Purchaser’s spouse) indicates by the execution of this Agreement such spouse’s consent to be bound by the terms herein as to such spouse’s interests, whether as community property or otherwise, if any, in the Shares. 
			
	/s/ Neeria Chaturvedi
	(Signature)
	
	
	Neerja Chaturvedi

EXHIBIT C
Assignment Separate From Certificate
FOR VALUE RECEIVED Vipin Kumar Chaturvedi (“Stockholder”) hereby sells, assigns and transfers unto GLYCOREGIMMUNE, INC., a Delaware corporation (the “Company”), Three Thousand Five Hundred (3,500) shares of Common Stock of the Company represented by Certificate No. ____ herewith and does hereby irrevocably constitute and appoint _______________________ Attorney to transfer the said stock on the books of the Company with full power of substitution in the premises.
Dated:  _________, 20__ 
			
	
	(Signature)

Spousal Consent
Neerja Chaturvedi (Stockholder’s spouse) indicates by the execution of this Assignment such spouse’s consent to be bound by the terms herein as to such spouse’s interests, whether as community property or otherwise, if any, in the Shares. 
			
	
	(Signature)
	
	
	Neerja Chaturvedi

INSTRUCTIONS: PLEASE DO NOT FILL IN ANY BLANKS OTHER THAN THE SIGNATURE LINE. THE PURPOSE OF THIS ASSIGNMENT IS TO ENABLE THE COMPANY TO EXERCISE ITS “REPURCHASE OPTION” SET FORTH IN THE AGREEMENT WITHOUT REQUIRING ADDITIONAL SIGNATURES ON THE PART OF PURCHASER.

EXHIBIT D
ELECTION UNDER SECTION 83(b) OF 
THE INTERNAL REVENUE CODE
The undersigned hereby makes an election pursuant to Section 83(b) of the Internal Revenue Code with respect to the property described below and supplies the following information in accordance with the regulations promulgated thereunder:
(A)    The name, address and social security number of the undersigned:
						
	Vipin Kumar Chaturvedi
		
		
		
		
		
	Social Security No.:	

(B)    Description of property with respect to which the election is being made:
3,500 shares of Common Stock of Glycoregimmune, Inc. (the “Company”).
(C)    The date on which the property was transferred is June 5, 2009
(D)    The taxable year to which this election relates is calendar year 2009.
(E)    Nature of restrictions to which the property is subject: The shares of stock transferred to the undersigned taxpayer are subject to the provisions of a Restricted Stock Purchase Agreement between the undersigned and the Company. Under the provisions of the Agreement, the Company will have the right to repurchase the stock at a price which may be less than the fair market value of the shares in the event of the undersigned’s termination of employment with the Company. This right will lapse over a period of up to Forty Eight (48) months.
(F)    The fair market value of the property at the time of transfer (determined without regard to any restriction other than any restriction which by its terms will never lapse) was $0.01 per share, for a total of $35.00.
(G)    The amount paid by taxpayer for the property was $35.00.
(H)    A copy of this statement has been furnished to the Company. 
Dated: June 5, 2009
			
	
	(Signature)

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