<commit_before><?!= data.xmlRoot() ?>
<? var documentTitle = (data.previous_f_agreement_date ? "Amended and Restated " : "") + "Class F Agreement"; ?>
<?!= include("inc_cover_2_parties", data, {cover_title:documentTitle, party1:data.company, party2:data.new_investor}) ?>
<?!= include("inc_cover_jfdi", data, { in_series:"05" }) ?>
<Firstpage_Sidebar>
<sidebar>This document prescribes a vesting schedule for founders, early employees, volunteers, interns, and advisors. If you're new to vesting, you should read http://pando.com/2012/04/26/founders-should-give-their-stock-back-why-vesting-is-in-your-startups-best-interest/</sidebar>
</Firstpage_Sidebar>
<Story_Main>
  <chapter_header><?= documentTitle ?></chapter_header>
  <para_1><span_smallcaps>This agreement is dated</span_smallcaps> <?= data.class_f_agreement_date ?></para_1>
  <para_1>between:</para_1>
  <parties><?!= include("inc_party", data, data.new_investor) ?> (the "Holder"); and</parties>
  <parties><?!= include("inc_party", data, data.company) ?> (the "Company").</parties>

  <para_1><span_smallcaps>Whereas:</span_smallcaps></para_1>
<? if (data.previous_f_agreement_date) { ?>
  <recitals>This agreement amends and restates a previous agreement dated <?= data.previous_f_agreement_date ?> with new numbers for restricted, unrestricted, cliff, and monthly vesting shares<? if (data.new_investor.recitals_text) { ?>, to <?= data.new_investor.recitals_text ?><?}?>.</recitals>
<? } ?>
  <recitals>The Company's Articles of Association define Class F Preference Shares. </recitals>
<? if (data.capTable.getActiveRound().by_security_type["Class F Shares"][data.new_investor.name] > 0) { ?>
<recitals>The Company proposes to issue <?= digitCommas_(data.capTable.getActiveRound().by_security_type["Class F Shares"][data.new_investor.name]) ?> Class F Preference Shares to the Holder and the Holder has agreed to subscribe for the Class F Preference Shares on the terms and conditions below. </recitals>
<? } ?>
  <recitals>This Agreement describes the properties of the Holder's Class F Preference Shares.</recitals>
<? if (data.previous_f_agreement_date) {?>
<para_1><span_smallcaps>The parties therefore</span_smallcaps> amend and restate the Class F Agreement to read in its entirety as follows:</para_1>
<? } else { ?>
<para_1><span_smallcaps>Now this agreement witnesseth</span_smallcaps> as follows:</para_1>
<? } ?>
  <a_left_sidehead>Definitions</a_left_sidehead>
  <para_1>In the Agreement (including the Recitals and the Schedules), except to the extent that the context otherwise requires, the following terms shall have the meanings set forth below: </para_1>
  <definition>Act	means the Companies Act (Cap. 50) of Singapore and includes any provision thereof as from time to time modified or re-enacted; </definition>
  <definition>Articles	means the Articles of Association of the Company; </definition>
  <definition>Board	means the board of Directors for the time being of the Company; </definition>
  <definition>Change of Control	is as defined in the Articles; </definition>
  <definition>Vest / Vesting	in relation to a Share means the waiver of the Company's Redemption Right over that Share; </definition>
  <definition>Vested / Unrestricted	in relation to a Share means that the Company has waived its right of redemption in regard to that Share; </definition>
  <definition>Unvested / Restricted	in relation to a Share means that the Company possesses a right of redemption over that Share; </definition>
  <definition>Redemption	in relation to a Share means that the Company purchases, and the Holder sells, that share; </definition>
  <definition>External Financing	means a fund-raising event in which the company raises no less than <?= data.qualified_financing_proceeds ?> within one round or series;</definition>
  <para_1>Except where the context otherwise requires, words importing the singular include the plural and vice versa, words importing a gender include every gender and references to persons include bodies corporate or unincorporated, any state or any agency thereof and any other entity. </para_1>
  <para_1>Headings, marginal sidenotes, and graphic art are for ease of reference only and have no legal effect. Reference to Clauses and Sections are, unless otherwise indicated, to Clauses and Sections of this Agreement and references to this Agreement includes any amendments or supplementals thereto. </para_1>
  <para_1>Except where the context otherwise requires, references to any person include its successors and permitted assignees. Clauses which refer to the "Company" shall apply mutatis mutandis to subsidiaries or successors of the Company which may from time to time be established. For purposes of this Agreement, employment with the Company shall include employment with a parent or subsidiary of the Company. </para_1>
  <para_1>References in this Agreement to a time of day are to Singapore time. </para_1>
  <a_left_sidehead xname="hazTable">Purchase of Shares</a_left_sidehead>
  <para_1>The Company shall issue and sell to the Holder, and the Holder shall purchase from the Company, subject to the terms and conditions set forth in this Agreement, Class F Preference shares (the "Shares") of the Company, at a purchase price of <?= data.price_per_share ?> per share (the "Issue Price"). The aggregate purchase price for the Shares shall be paid by the Holder in cash or cheque. The number of Shares purchased by each Holder shall be the sum of the numbers shown in the <i>Unrestricted</i> and <i>Restricted</i> columns in the table below. Upon receipt of payment by the Company, the Company shall issue to the Holder one or more certificates in the name of the Holder for that number of Shares purchased by the Holder. The Holder agrees that their Shares shall be subject to the purchase options and restrictions on transfer set forth in this Agreement and in the Articles of Association. </para_1>
  <para_2>For convenience of reference the table below indicates in the column titled Ordinary the number of ordinary shares presently held by the Holder.  </para_2>
  <para_2> </para_2>
  <table_enclosing_para>
	<Table aid:table="table" aid:tcols="6" aid:trows="2" xmlns:aid="http://ns.adobe.com/AdobeInDesign/4.0/">
<Cell aid:ccols="1" aid:ccolwidth="110" aid:crows="1" aid:table="cell" aid5:cellstyle="border_none"><cell_fl>Name</cell_fl></Cell>
<Cell aid:ccols="1" aid:ccolwidth="50" aid:crows="1" aid:table="cell" aid5:cellstyle="border_none"><cell>Ordinary</cell></Cell>
<Cell aid:ccols="1" aid:ccolwidth="60" aid:crows="1" aid:table="cell" aid5:cellstyle="border_none"><cell>Unrestricted</cell></Cell>
<Cell aid:ccols="1" aid:ccolwidth="60" aid:crows="1" aid:table="cell" aid5:cellstyle="border_none"><cell>Restricted</cell></Cell>
<Cell aid:ccols="1" aid:ccolwidth="40" aid:crows="1" aid:table="cell" aid5:cellstyle="border_none"><cell>Cliff</cell></Cell>
<Cell aid:ccols="1" aid:ccolwidth="40" aid:crows="1" aid:table="cell" aid5:cellstyle="border_none"><cell><?=data.new_investor.f_period || "Monthly"?></cell></Cell>

<Cell aid:ccols="1" aid:ccolwidth="110" aid:crows="1" aid:table="cell" aid5:cellstyle="horizontal_hairline"><cell_fl><?= data.new_investor.name ?></cell_fl></Cell>
<Cell aid:ccols="1" aid:ccolwidth="50" aid:crows="1" aid:table="cell" aid5:cellstyle="horizontal_hairline"><cell><?= digitCommas_(data.capTable.getActiveRound().by_security_type["Ordinary Shares"][data.new_investor.name]||"0") ?></cell></Cell>
<Cell aid:ccols="1" aid:ccolwidth="60" aid:crows="1" aid:table="cell" aid5:cellstyle="horizontal_hairline"><cell><?= data.new_investor.f_unrestricted ?></cell></Cell>
<Cell aid:ccols="1" aid:ccolwidth="60" aid:crows="1" aid:table="cell" aid5:cellstyle="horizontal_hairline"><cell><?= data.new_investor.f_restricted ?></cell></Cell>
<Cell aid:ccols="1" aid:ccolwidth="40" aid:crows="1" aid:table="cell" aid5:cellstyle="horizontal_hairline"><cell><?= data.new_investor.f_cliff ?></cell></Cell>
<Cell aid:ccols="1" aid:ccolwidth="40" aid:crows="1" aid:table="cell" aid5:cellstyle="horizontal_hairline"><cell><?= data.new_investor.f_periodic || data.new_investor.f_monthly ?></cell></Cell>

</Table>
  </table_enclosing_para>

  <a_left_sidehead xname="redemption">Redemption</a_left_sidehead>
  <numbered_2_para>Subject to Sections <xref to="cause" />, <xref to="good reason" />, and <xref to="termination" /> below, </numbered_2_para>
  <numbered_3_para>in the event that the Holder is discharged by the Company from employment or volunteership, with Cause (as defined below) and prior to a Change of Control event, the Company shall have the right and option (the "Redemption Right") to purchase from the Holder, at a price per share equal to the Issue Price (the "Redemption Price"), up to the total number of Shares that have not vested according to the table in Section <xref to="hazTable" /> (the "Restricted Shares"). </numbered_3_para>
  <numbered_3_para>the number of shares in the Restricted column of the above table shall initially be subject to the Redemption Right. </numbered_3_para>
  <numbered_3_para>the number of shares in the Unrestricted column of the above table shall not be subject to the Redemption Right; they shall be deemed vested upon issue and are convertible to Ordinary Shares. </numbered_3_para>
  <numbered_3_para>the number of shares in the Cliff column of the above table shall vest on <?= data.f_cliff_end_date ?>. </numbered_3_para>
  <numbered_3_para>thereafter, the number of shares in the <?=data.new_investor.f_period || "Monthly"?> column of the above table shall vest on the last business day of each <?=(data.new_investor.f_period || "Monthly").toLowerCase().replace(/ly$/,"")?> until such time as all Shares are fully vested. </numbered_3_para>

  <numbered_2_para xname="cause">For purposes of this Agreement, <b>"Cause"</b> shall mean </numbered_2_para>
  <numbered_3_para>any act or omission which constitutes a material breach by the Holder of the terms of </numbered_3_para>
  <numbered_4_para>this Agreement, </numbered_4_para>
  <numbered_4_para>the Holder's Volunteer Agreement or Employment Agreement as the case may be, or </numbered_4_para>
  <numbered_4_para>any other written and signed agreement between the Holder and the Company, </numbered_4_para>
  <numbered_3_para>which breach remains uncured by the Holder for a period of thirty (30) days following the Holder's receipt of a written notice of breach from the Company, specifying the act or omission upon which the Company's claim of breach is based; </numbered_3_para>
  <numbered_3_para>the commission by the Holder of an arrestable offence, a criminal act in connection with an arrestable offence, or any dishonest or wrongful act involving fraud; </numbered_3_para>
  <numbered_3_para>the commission by the Holder of an act of moral turpitude which may adversely effect the reputation or business of the Company as reasonably determined by the Board; or </numbered_3_para>
  <numbered_3_para>the Holder's willful or continuing failure to perform the Holder's duties reasonably assigned during the course of employment or volunteership. </numbered_3_para>
  <numbered_2_para xname="good reason">For purposes of this Agreement, the term "<b>Good Reason</b>" shall mean termination due to a material breach by the Company of the Holder's Volunteer Agreement or Employment Agreement, as the case may be, which breach remains uncured by the Company, if curable, for a period of thirty (30) days following receipt of a written notice of breach from the Holder, specifying the act or omission upon which the Holder's claim of breach is based. </numbered_2_para>
  <numbered_2_para xname="termination">Termination for Good Reason shall be deemed to be termination by the Company without Cause under this Agreement. </numbered_2_para>

  <a_left_sidehead>Exercise of Redemption Right</a_left_sidehead>
  <numbered_2_para>The Company may exercise the Redemption Right with respect to Restricted Shares by delivering or mailing to the Holder (or his estate), within 60 days after the termination of the employment or volunteership of the Holder with the Company, a written notice of exercise of the Redemption Right. Such notice shall specify the number of Shares to be purchased. If and to the extent the Redemption Right is not so exercised by the giving of such a notice within such 60-day period, the Redemption Right shall automatically expire and terminate effective upon the expiration of such 60-day period. </numbered_2_para>
  <numbered_2_para>The Company shall pay to the Holder the aggregate Redemption Price for such repurchased Shares against delivery of the certificate or certificates representing the Shares to be purchased by the Company. The written notice to the Holder shall specify the address at, and the time and date on, which payment of the Redemption Price for such repurchased Shares is to be made (the "Closing"). The date specified shall not be less than ten (10) days nor more than sixty (60) days from the date of the mailing of the notice, and the Holder or his or her successor in interest with respect to the Shares to be so repurchased shall have no further rights as the owner thereof from and after the date specified in the notice. At the Closing, the Redemption Price for such repurchased Shares shall be delivered to the Holder or his or her successor in interest and the Shares being purchased, duly endorsed for transfer, shall, to the extent that they are not then in the possession of the Company, be delivered to the Company by the Holder or his or her successor in interest. </numbered_2_para>
  <numbered_2_para>After the time at which the Redemption Right is exercised with respect to any Shares, the Company shall not pay any dividend to the Holder on account of such Shares or permit the Holder to exercise any of the privileges or rights of a stockholder with respect to such Shares. </numbered_2_para>
  <numbered_2_para>The Company shall not purchase any fraction of a Share upon exercise of the Redemption Right, and any fraction of a Share resulting from a computation made pursuant to this Agreement shall be rounded to the nearest whole Share (with any one-half Share being rounded upward). </numbered_2_para>
  <a_left_sidehead>Acceleration </a_left_sidehead>
  <b_left_sidehead>Acceleration prior to acquisition. </b_left_sidehead>
  <para_1>In the absence of a Change of Control event, </para_1>
  <numbered_3_para>termination without cause or resignation in response to a hostile work environment shall entail redemption of Restricted Shares. </numbered_3_para>
  <numbered_3_para xname="quit">termination with cause or voluntary resignation shall, unless the Directors resolve otherwise, entail redemption of Restricted Shares. </numbered_3_para>
  <numbered_3_para>at the closing of the first External Financing, all Unrestricted Shares shall convert to Ordinary Shares; Restricted Shares will (by default) continue to vest as specified by this agreement, unless:---</numbered_3_para>
  <numbered_4_para>the Company elects to vest those shares under a new agreement with different terms;</numbered_4_para>
  <numbered_4_para>the Company elects to convert them to Ordinary Shares;</numbered_4_para>
  <numbered_4_para>the Company elects to redeem the Restricted Shares; or</numbered_4_para>
  <numbered_4_para>the Company decides to deal with the Restricted Shares in some other way.</numbered_4_para>
  <b_left_sidehead xname="acc_stock">Acceleration post acquisition for stock. </b_left_sidehead>
  <para_1>Subsequent to a Change of Control event in which the Company is acquired primarily for stock, and in which the vesting schedule is substantially preserved in the acquiring entity's stock repurchase or stock option plan, </para_1>
  <numbered_3_para>termination without cause or resignation in response to a hostile work environment shall entail full acceleration of unvested shares causing all outstanding Restricted Shares to become Unrestricted Shares; and </numbered_3_para>
  <numbered_3_para>termination with cause or voluntary resignation shall, unless the Directors of the acquiror resolve otherwise, entail redemption or forfeiture of the unvested portion. </numbered_3_para>
  <b_left_sidehead xname="acc_cash">Acceleration post acquisition for cash. </b_left_sidehead>
  <para_1>Subsequent to a Change of Control event in which the Company is acquired primarily for cash, the Restricted Shares shall form part of the fully diluted capitalization, and cash corresponding to the unvested portion shall be escrowed on a pro rata basis. Cash shall be released from escrow mutatis mutandis with the vesting scheme. </para_1>
  <b_left_sidehead>Acceleration post acquisition for cash and stock. </b_left_sidehead>
  <para_1>In the event the Company is acquired for both cash and stock, the above sections <xref to="acc_stock" /> and <xref to="acc_cash" /> shall apply in pro rata fashion. </para_1><commit_msg>exclude hostile work environment, as vague<commit_after><?!= data.xmlRoot() ?>
<? var documentTitle = (data.previous_f_agreement_date ? "Amended and Restated " : "") + "Class F Agreement"; ?>
<?!= include("inc_cover_2_parties", data, {cover_title:documentTitle, party1:data.company, party2:data.new_investor}) ?>
<?!= include("inc_cover_jfdi", data, { in_series:"05" }) ?>
<Firstpage_Sidebar>
<sidebar>This document prescribes a vesting schedule for founders, early employees, volunteers, interns, and advisors. If you're new to vesting, you should read http://pando.com/2012/04/26/founders-should-give-their-stock-back-why-vesting-is-in-your-startups-best-interest/</sidebar>
</Firstpage_Sidebar>
<Story_Main>
  <chapter_header><?= documentTitle ?></chapter_header>
  <para_1><span_smallcaps>This agreement is dated</span_smallcaps> <?= data.class_f_agreement_date ?></para_1>
  <para_1>between:</para_1>
  <parties><?!= include("inc_party", data, data.new_investor) ?> (the "Holder"); and</parties>
  <parties><?!= include("inc_party", data, data.company) ?> (the "Company").</parties>

  <para_1><span_smallcaps>Whereas:</span_smallcaps></para_1>
<? if (data.previous_f_agreement_date) { ?>
  <recitals>This agreement amends and restates a previous agreement dated <?= data.previous_f_agreement_date ?> with new numbers for restricted, unrestricted, cliff, and monthly vesting shares<? if (data.new_investor.recitals_text) { ?>, to <?= data.new_investor.recitals_text ?><?}?>.</recitals>
<? } ?>
  <recitals>The Company's Articles of Association define Class F Preference Shares. </recitals>
<? if (data.capTable.getActiveRound().by_security_type["Class F Shares"][data.new_investor.name] > 0) { ?>
<recitals>The Company proposes to issue <?= digitCommas_(data.capTable.getActiveRound().by_security_type["Class F Shares"][data.new_investor.name]) ?> Class F Preference Shares to the Holder and the Holder has agreed to subscribe for the Class F Preference Shares on the terms and conditions below. </recitals>
<? } ?>
  <recitals>This Agreement describes the properties of the Holder's Class F Preference Shares.</recitals>
<? if (data.previous_f_agreement_date) {?>
<para_1><span_smallcaps>The parties therefore</span_smallcaps> amend and restate the Class F Agreement to read in its entirety as follows:</para_1>
<? } else { ?>
<para_1><span_smallcaps>Now this agreement witnesseth</span_smallcaps> as follows:</para_1>
<? } ?>
  <a_left_sidehead>Definitions</a_left_sidehead>
  <para_1>In the Agreement (including the Recitals and the Schedules), except to the extent that the context otherwise requires, the following terms shall have the meanings set forth below: </para_1>
  <definition>Act	means the Companies Act (Cap. 50) of Singapore and includes any provision thereof as from time to time modified or re-enacted; </definition>
  <definition>Articles	means the Articles of Association of the Company; </definition>
  <definition>Board	means the board of Directors for the time being of the Company; </definition>
  <definition>Change of Control	is as defined in the Articles; </definition>
  <definition>Vest / Vesting	in relation to a Share means the waiver of the Company's Redemption Right over that Share; </definition>
  <definition>Vested / Unrestricted	in relation to a Share means that the Company has waived its right of redemption in regard to that Share; </definition>
  <definition>Unvested / Restricted	in relation to a Share means that the Company possesses a right of redemption over that Share; </definition>
  <definition>Redemption	in relation to a Share means that the Company purchases, and the Holder sells, that share; </definition>
  <definition>External Financing	means a fund-raising event in which the company raises no less than <?= data.qualified_financing_proceeds ?> within one round or series;</definition>
  <para_1>Except where the context otherwise requires, words importing the singular include the plural and vice versa, words importing a gender include every gender and references to persons include bodies corporate or unincorporated, any state or any agency thereof and any other entity. </para_1>
  <para_1>Headings, marginal sidenotes, and graphic art are for ease of reference only and have no legal effect. Reference to Clauses and Sections are, unless otherwise indicated, to Clauses and Sections of this Agreement and references to this Agreement includes any amendments or supplementals thereto. </para_1>
  <para_1>Except where the context otherwise requires, references to any person include its successors and permitted assignees. Clauses which refer to the "Company" shall apply mutatis mutandis to subsidiaries or successors of the Company which may from time to time be established. For purposes of this Agreement, employment with the Company shall include employment with a parent or subsidiary of the Company. </para_1>
  <para_1>References in this Agreement to a time of day are to Singapore time. </para_1>
  <a_left_sidehead xname="hazTable">Purchase of Shares</a_left_sidehead>
  <para_1>The Company shall issue and sell to the Holder, and the Holder shall purchase from the Company, subject to the terms and conditions set forth in this Agreement, Class F Preference shares (the "Shares") of the Company, at a purchase price of <?= data.price_per_share ?> per share (the "Issue Price"). The aggregate purchase price for the Shares shall be paid by the Holder in cash or cheque. The number of Shares purchased by each Holder shall be the sum of the numbers shown in the <i>Unrestricted</i> and <i>Restricted</i> columns in the table below. Upon receipt of payment by the Company, the Company shall issue to the Holder one or more certificates in the name of the Holder for that number of Shares purchased by the Holder. The Holder agrees that their Shares shall be subject to the purchase options and restrictions on transfer set forth in this Agreement and in the Articles of Association. </para_1>
  <para_2>For convenience of reference the table below indicates in the column titled Ordinary the number of ordinary shares presently held by the Holder.  </para_2>
  <para_2> </para_2>
  <table_enclosing_para>
	<Table aid:table="table" aid:tcols="6" aid:trows="2" xmlns:aid="http://ns.adobe.com/AdobeInDesign/4.0/">
<Cell aid:ccols="1" aid:ccolwidth="110" aid:crows="1" aid:table="cell" aid5:cellstyle="border_none"><cell_fl>Name</cell_fl></Cell>
<Cell aid:ccols="1" aid:ccolwidth="50" aid:crows="1" aid:table="cell" aid5:cellstyle="border_none"><cell>Ordinary</cell></Cell>
<Cell aid:ccols="1" aid:ccolwidth="60" aid:crows="1" aid:table="cell" aid5:cellstyle="border_none"><cell>Unrestricted</cell></Cell>
<Cell aid:ccols="1" aid:ccolwidth="60" aid:crows="1" aid:table="cell" aid5:cellstyle="border_none"><cell>Restricted</cell></Cell>
<Cell aid:ccols="1" aid:ccolwidth="40" aid:crows="1" aid:table="cell" aid5:cellstyle="border_none"><cell>Cliff</cell></Cell>
<Cell aid:ccols="1" aid:ccolwidth="40" aid:crows="1" aid:table="cell" aid5:cellstyle="border_none"><cell><?=data.new_investor.f_period || "Monthly"?></cell></Cell>

<Cell aid:ccols="1" aid:ccolwidth="110" aid:crows="1" aid:table="cell" aid5:cellstyle="horizontal_hairline"><cell_fl><?= data.new_investor.name ?></cell_fl></Cell>
<Cell aid:ccols="1" aid:ccolwidth="50" aid:crows="1" aid:table="cell" aid5:cellstyle="horizontal_hairline"><cell><?= digitCommas_(data.capTable.getActiveRound().by_security_type["Ordinary Shares"][data.new_investor.name]||"0") ?></cell></Cell>
<Cell aid:ccols="1" aid:ccolwidth="60" aid:crows="1" aid:table="cell" aid5:cellstyle="horizontal_hairline"><cell><?= data.new_investor.f_unrestricted ?></cell></Cell>
<Cell aid:ccols="1" aid:ccolwidth="60" aid:crows="1" aid:table="cell" aid5:cellstyle="horizontal_hairline"><cell><?= data.new_investor.f_restricted ?></cell></Cell>
<Cell aid:ccols="1" aid:ccolwidth="40" aid:crows="1" aid:table="cell" aid5:cellstyle="horizontal_hairline"><cell><?= data.new_investor.f_cliff ?></cell></Cell>
<Cell aid:ccols="1" aid:ccolwidth="40" aid:crows="1" aid:table="cell" aid5:cellstyle="horizontal_hairline"><cell><?= data.new_investor.f_periodic || data.new_investor.f_monthly ?></cell></Cell>

</Table>
  </table_enclosing_para>

  <a_left_sidehead xname="redemption">Redemption</a_left_sidehead>
  <numbered_2_para>Subject to Sections <xref to="cause" />, <xref to="good reason" />, and <xref to="termination" /> below, </numbered_2_para>
  <numbered_3_para>in the event that the Holder is discharged by the Company from employment or volunteership, with Cause (as defined below) and prior to a Change of Control event, the Company shall have the right and option (the "Redemption Right") to purchase from the Holder, at a price per share equal to the Issue Price (the "Redemption Price"), up to the total number of Shares that have not vested according to the table in Section <xref to="hazTable" /> (the "Restricted Shares"). </numbered_3_para>
  <numbered_3_para>the number of shares in the Restricted column of the above table shall initially be subject to the Redemption Right. </numbered_3_para>
  <numbered_3_para>the number of shares in the Unrestricted column of the above table shall not be subject to the Redemption Right; they shall be deemed vested upon issue and are convertible to Ordinary Shares. </numbered_3_para>
  <numbered_3_para>the number of shares in the Cliff column of the above table shall vest on <?= data.f_cliff_end_date ?>. </numbered_3_para>
  <numbered_3_para>thereafter, the number of shares in the <?=data.new_investor.f_period || "Monthly"?> column of the above table shall vest on the last business day of each <?=(data.new_investor.f_period || "Monthly").toLowerCase().replace(/ly$/,"")?> until such time as all Shares are fully vested. </numbered_3_para>

  <numbered_2_para xname="cause">For purposes of this Agreement, <b>"Cause"</b> shall mean </numbered_2_para>
  <numbered_3_para>any act or omission which constitutes a material breach by the Holder of the terms of </numbered_3_para>
  <numbered_4_para>this Agreement, </numbered_4_para>
  <numbered_4_para>the Holder's Volunteer Agreement or Employment Agreement as the case may be, or </numbered_4_para>
  <numbered_4_para>any other written and signed agreement between the Holder and the Company, </numbered_4_para>
  <numbered_3_para>which breach remains uncured by the Holder for a period of thirty (30) days following the Holder's receipt of a written notice of breach from the Company, specifying the act or omission upon which the Company's claim of breach is based; </numbered_3_para>
  <numbered_3_para>the commission by the Holder of an arrestable offence, a criminal act in connection with an arrestable offence, or any dishonest or wrongful act involving fraud; </numbered_3_para>
  <numbered_3_para>the commission by the Holder of an act of moral turpitude which may adversely effect the reputation or business of the Company as reasonably determined by the Board; or </numbered_3_para>
  <numbered_3_para>the Holder's willful or continuing failure to perform the Holder's duties reasonably assigned during the course of employment or volunteership. </numbered_3_para>
  <numbered_2_para xname="good reason">For purposes of this Agreement, the term "<b>Good Reason</b>" shall mean termination due to a material breach by the Company of the Holder's Volunteer Agreement or Employment Agreement, as the case may be, which breach remains uncured by the Company, if curable, for a period of thirty (30) days following receipt of a written notice of breach from the Holder, specifying the act or omission upon which the Holder's claim of breach is based. </numbered_2_para>
  <numbered_2_para xname="termination">Termination for Good Reason shall be deemed to be termination by the Company without Cause under this Agreement. </numbered_2_para>

  <a_left_sidehead>Exercise of Redemption Right</a_left_sidehead>
  <numbered_2_para>The Company may exercise the Redemption Right with respect to Restricted Shares by delivering or mailing to the Holder (or his estate), within 60 days after the termination of the employment or volunteership of the Holder with the Company, a written notice of exercise of the Redemption Right. Such notice shall specify the number of Shares to be purchased. If and to the extent the Redemption Right is not so exercised by the giving of such a notice within such 60-day period, the Redemption Right shall automatically expire and terminate effective upon the expiration of such 60-day period. </numbered_2_para>
  <numbered_2_para>The Company shall pay to the Holder the aggregate Redemption Price for such repurchased Shares against delivery of the certificate or certificates representing the Shares to be purchased by the Company. The written notice to the Holder shall specify the address at, and the time and date on, which payment of the Redemption Price for such repurchased Shares is to be made (the "Closing"). The date specified shall not be less than ten (10) days nor more than sixty (60) days from the date of the mailing of the notice, and the Holder or his or her successor in interest with respect to the Shares to be so repurchased shall have no further rights as the owner thereof from and after the date specified in the notice. At the Closing, the Redemption Price for such repurchased Shares shall be delivered to the Holder or his or her successor in interest and the Shares being purchased, duly endorsed for transfer, shall, to the extent that they are not then in the possession of the Company, be delivered to the Company by the Holder or his or her successor in interest. </numbered_2_para>
  <numbered_2_para>After the time at which the Redemption Right is exercised with respect to any Shares, the Company shall not pay any dividend to the Holder on account of such Shares or permit the Holder to exercise any of the privileges or rights of a stockholder with respect to such Shares. </numbered_2_para>
  <numbered_2_para>The Company shall not purchase any fraction of a Share upon exercise of the Redemption Right, and any fraction of a Share resulting from a computation made pursuant to this Agreement shall be rounded to the nearest whole Share (with any one-half Share being rounded upward). </numbered_2_para>
  <a_left_sidehead>Acceleration </a_left_sidehead>
  <b_left_sidehead>Acceleration prior to acquisition. </b_left_sidehead>
  <para_1>In the absence of a Change of Control event, </para_1>
  <numbered_3_para>termination without cause shall entail redemption of Restricted Shares. </numbered_3_para>
  <numbered_3_para xname="quit">termination with cause or voluntary resignation shall, unless the Directors resolve otherwise, entail redemption of Restricted Shares. </numbered_3_para>
  <numbered_3_para>at the closing of the first External Financing, all Unrestricted Shares shall convert to Ordinary Shares; Restricted Shares will (by default) continue to vest as specified by this agreement, unless:---</numbered_3_para>
  <numbered_4_para>the Company elects to vest those shares under a new agreement with different terms;</numbered_4_para>
  <numbered_4_para>the Company elects to convert them to Ordinary Shares;</numbered_4_para>
  <numbered_4_para>the Company elects to redeem the Restricted Shares; or</numbered_4_para>
  <numbered_4_para>the Company decides to deal with the Restricted Shares in some other way.</numbered_4_para>
  <b_left_sidehead xname="acc_stock">Acceleration post acquisition for stock. </b_left_sidehead>
  <para_1>Subsequent to a Change of Control event in which the Company is acquired primarily for stock, and in which the vesting schedule is substantially preserved in the acquiring entity's stock repurchase or stock option plan, </para_1>
  <numbered_3_para>termination without cause shall entail full acceleration of unvested shares causing all outstanding Restricted Shares to become Unrestricted Shares; and </numbered_3_para>
  <numbered_3_para>termination with cause or voluntary resignation shall, unless the Directors of the acquiror resolve otherwise, entail redemption or forfeiture of the unvested portion. </numbered_3_para>
  <b_left_sidehead xname="acc_cash">Acceleration post acquisition for cash. </b_left_sidehead>
  <para_1>Subsequent to a Change of Control event in which the Company is acquired primarily for cash, the Restricted Shares shall form part of the fully diluted capitalization, and cash corresponding to the unvested portion shall be escrowed on a pro rata basis. Cash shall be released from escrow mutatis mutandis with the vesting scheme. </para_1>
  <b_left_sidehead>Acceleration post acquisition for cash and stock. </b_left_sidehead>
  <para_1>In the event the Company is acquired for both cash and stock, the above sections <xref to="acc_stock" /> and <xref to="acc_cash" /> shall apply in pro rata fashion. </para_1>
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