Right of First Refusal and Co-Sale Agreement優(yōu)先取舍權協(xié)議

-30-RightofFirstRefusalandCo-SaleAgreement優(yōu)先取舍權協(xié)議核心提示：ThisRIGHTOFFIRSTREFUSALANDCO-SALEAGREEMENTisenteredintoasofthedayof_________(M),_________(Y)byandamong_________,a_________(address)corporation(theCompany),(theFounder)andtheundersignedholders(thePurchasers)ofSeriesThisRIGHTOFFIRSTREFUSALANDCO-SALEAGREEMENTisenteredintoasofthedayof_________(M),_________(Y)byandamong_________,a_________(address)corporation(theCompany),(theFounder)andtheundersignedholders(thePurchasers)ofSeriesAPreferredStockoftheCompany(thePreferredShares).WITNESSETHWHEREAS,theCompanyandthePurchasers[andtheFounder]arepartiestotheSeriesAPreferredStockPurchaseAgreementofevendateherewith,pursuanttowhichthePurchasersarepurchasingsharesoftheCompany’sSeriesAPreferredStock;WHEREAS,theFounderisthebeneficialownerofthenumberofsharesofCommonStockoftheCompanysetforthoppositehis/hernameonScheduleAhereto;andWHEREAS,theFounderwishestoprovidefurtherinducementtothePurchaserstopurchasethePreferredShares;NOW,THEREFORE,inconsiderationofthepremisesandthemutualpromisessetforthinthisAgreement;THEPARTIESAGREEASFOLLOWS:1.RestrictionsonTransferofSharesbyFounder.ExceptasotherwiseprovidedinthisAgreement,theFounderwillnotsell,assign,transfer,pledge,hypothecate,orotherwiseencumberordisposeofinanyway,alloranypartoforanyinterestintheEquitySecurities(asdefinedbelow)noworhereafterownedorheldbytheFounder.Anysale,assignment,transfer,pledge,hypothecationorotherencumbranceordispositionofEquitySecuritiesnotmadeinconformancewiththisAgreementshallbenullandvoid,shallnotberecordedonthebooksoftheCompanyandshallnotberecognizedbytheCompany.[COMMENT:ThescopeofthisAgreementisfavorabletoinvestorsasitincludesanytransferoftheCompany’ssecuritiesbythenamedfounder(s),includingsecuritiessubsequentlyacquiredafterthedateoftheAgreement,byoptionexerciseorotherwise.]2.Definitions.(a)EquitySecurities.ForpurposesofthisAgreement,thetermEquitySecuritiesshallmeananysecuritieshavingvotingrightsintheelectionoftheBoardofDirectorsoftheCompanynotcontingentupondefault,oranysecuritiesevidencinganownershipinterestintheCompany,oranysecuritiesconvertibleintoorexercisableforanysharesoftheforegoing,oranyagreementorcommitmenttoissueanyoftheforegoing.(b)Holders.ForpurposesofthisAgreement,thetermHoldersshallmeanthePurchasersorpersonswhohaveacquiredsharesfromanyofsuchpersonsortheirtransfereesorassigneesinaccordancewiththeprovisionsofthisAgreement.3.AgreementsAmongtheCompany,thePurchasersandtheFounder.3.1RightsofRefusal.(a)TransferNotice.IfatanytimetheFounderproposestotransferEquitySecuritiestooneormorethirdpartiespursuanttoanunderstandingwithsuchthirdparties(aTransfer),thentheFoundershallgivetheCompanyandeachHolderwrittennoticeoftheFounder’sintentiontomaketheTransfer(theTransferNotice),whichTransferNoticeshallinclude(i)adescriptionoftheEquitySecuritiestobetransferred(OfferedShares),(ii)theidentityoftheprospectivetransferee(s)and(iii)theconsiderationandthematerialtermsandconditionsuponwhichtheproposedTransferistobemade.TheTransferNoticeshallcertifythattheFounderhasreceivedafirmofferfromtheprospectivetransferee(s)andingoodfaithbelievesabindingagreementfortheTransferisobtainableonthetermssetforthintheTransferNotice.TheTransferNoticeshallalsoincludeacopyofanywrittenproposal,termsheetorletterofintentorotheragreementrelatingtotheproposedTransfer.(b)Company’sOption.TheCompanyshallhaveanoptionforaperiodof_________(_________)daysfromreceiptoftheTransferNoticetoelecttopurchasetheOfferedSharesatthesamepriceandsubjecttothesamematerialtermsandconditionsasdescribedintheTransferNotice.TheCompanymayexercisesuchpurchaseoptionand,thereby,purchaseall(oraportionof)theOfferedSharesbynotifyingtheFounderinwritingbeforeexpirationofthesuch_________(_________)dayperiodastothenumberofsuchshareswhichitwishestopurchase.IftheCompanygivestheFoundernoticethatitdesirestopurchasesuchshares,thenpaymentfortheOfferedSharesshallbebycheckorwiretransfer,againstdeliveryoftheOfferedSharestobepurchasedataplaceagreeduponbetweenthepartiesandatthetimeofthescheduledclosingtherefor,whichshallbenolaterthan_________(_________)daysaftertheCompany’sreceiptoftheTransferNotice,unlesstheTransferNoticecontemplatedalaterclosingwiththeprospectivethirdpartytransferee(s)orunlessthevalueofthepurchasepricehasnotyetbeenestablishedpursuanttoSection3.1(e).IftheCompanyfailstopurchasealloftheOfferedSharesbyexercisingtheoptiongrantedinthisSection3.1(b)withintheperiodprovided,theOfferedSharesshallbesubjecttotheoptionsgrantedtotheHolderspursuanttothisAgreement.[COMMENT:SomeFoundersmayobjecttotheCompany’sandHolders’rightstopartiallyexercisetherightoffirstrefusal,astheproposedtransferee(s)maynotbewillingtopurchasethesmallerremainingnumberofshares.](c)AdditionalTransferNotice.SubjecttotheCompany’srightsetforthinSection3.1(b),ifatanytimetheFounderproposesaTransfer,then,aftertheCompanyhasdeclinedtopurchaseall,oraportionof,theOfferedShares,theFoundershallgiveeachHolderanAdditionalTransferNoticewhichshallincludealloftheinformationandcertificationsrequiredinaTransferNoticeandshalladditionallyidentifytheOfferedShareswhichtheCompanyhasdeclinedtopurchase(theRemainingShares)andbrieflydescribeHolders’rightsoffirstrefusalandco-salerightswithrespecttotheproposedTransfer.(d)Holders’Option.TheHoldersshallhaveanoptionforaperiodof_________(_________)daysfromtheHolder’sreceiptoftheAdditionalTransferNoticefromtheFoundersetforthinSection3.1(c)toelecttopurchasetheirrespectiveproratasharesoftheRemainingSharesatthesamepriceandsubjecttothesamematerialtermsandconditionsasdescribedintheAdditionalTransferNotice.EachHoldermayexercisesuchpurchaseoptionand,thereby,purchasealloranyportionofhis,heroritsproratashare(withanyreallotmentsasprovidedbelow)oftheRemainingShares,bynotifyingtheFounderandtheCompanyinwriting,beforeexpirationofthe_________(_________)dayperiodastothenumberofsuchshareswhichhe,sheoritwishestopurchase(includinganyreallotment).EachHolder’sproratashareoftheRemainingSharesshallbeafractionoftheRemainingShares,ofwhichthenumberofsharesofCommonStock(includingsharesofCommonStockissuableuponconversionofPreferredShares)ownedbysuchHolderonthedateoftheTransferNoticeshallbethenumeratorandthetotalnumberofsharesofCommonStock(includingsharesofCommonStockissuableuponconversionofPreferredShares)heldbytheFounderandallHoldersonthedateoftheTransferNoticeshallbethedenominator.EachHoldershallhavearightofreallotmentsuchthat,ifanyotherHolderfailstoexercisetherighttopurchaseitsfullproratashareoftheRemainingShares,theotherparticipatingHoldersmayexerciseanadditionalrighttopurchase,onaproratabasis,theRemainingSharesnotpreviouslypurchased.EachHoldershallbeentitledtoapportionRemainingSharestobepurchasedamongitspartnersandaffiliates,providedthatsuchHoldernotifiestheFounderofsuchallocation.IfaHoldergivestheFoundernoticethatitdesirestopurchaseitsproratashareoftheRemainingSharesand,asthecasemaybe,itsreallotment,thenpaymentfortheRemainingSharesshallbebycheckorwiretransfer,againstdeliveryoftheRemainingSharestobepurchasedataplaceagreeduponbetweenthepartiesandatthetimeofthescheduledclosingtherefor,whichshallbenolaterthanforty-five(45)daysaftertheCompany’sreceiptoftheTransferNotice,unlesstheTransferNoticecontemplatedalaterclosingwiththeprospectivethirdpartytransferee(s)orunlessthevalueofthepurchasepricehasnotyetbeenestablishedpursuanttoSection3.1(e).(e)ValuationofProperty.ShouldthepurchasepricespecifiedintheTransferNoticeorAdditionalTransferNoticebepayableinpropertyotherthancashorevidencesofindebtedness,theCompany(ortheHolders)shallhavetherighttopaythepurchasepriceintheformofcashequalinamounttothevalueofsuchproperty.IftheFounderandtheCompany(ortheHolders)cannotagreeonsuchcashvaluewithin_________(_________)daysaftertheCompany’sreceiptoftheTransferNotice(ortheHolders’receiptoftheAdditionalTransferNotice),thevaluationshallbemadebyanappraiserofrecognizedstandingselectedbytheFounderandtheCompany(ortheHolders)or,iftheycannotagreeonanappraiserwithin_________(_________)daysaftertheCompany’sreceiptoftheTransferNotice(ortheHolders’receiptoftheAdditionalTransferNotice),eachshallselectanappraiserofrecognizedstandingandthetwoappraisersshalldesignateathirdappraiserofrecognizedstanding,whoseappraisalshallbedeterminativeofsuchvalue.ThecostofsuchappraisalshallbesharedequallybytheFounderandtheCompany(ortheHolders),withthehalfofthecostbornebytheCompanyandtheHoldersborneproratabyeachbasedonthenumberofsharessuchpartieswereinterestedinpurchasingpursuanttothisSection3.IfthetimefortheclosingoftheCompany’spurchaseortheHolders’purchasehasexpiredbutforthedeterminationofthevalueofthepurchasepriceofferedbytheprospectivetransferee(s),thensuchclosingshallheldonorpriortothefifthbusinessdayaftersuchvaluationshallhavebeenmadepursuanttothissubsection.[COMMENT:Thelengthofnoticeperiodsarethesubjectofnegotiationbetweenfoundersandinvestors,withfoundersobjectingtolongnoticeperiodsaslimitingtheirabilitytosellsharesandinvestorsobjectingtoperiodswhicharetooshorttoevaluatetheproposedtermsorfinancetheexerciseoftherightoffirstrefusal.Inaddition,thepresenceorabsenceofreallotmentoptionsormechanismsareoftennegotiated.]3.2RightofCo-Sale.(a)TotheextenttheCompanyandtheHoldersdonotexercisetheirrespectiverightsofrefusalastoalloftheOfferedSharespursuanttoSection3.1,theneachHolder(aSellingHolderforpurposesofthissubsection3.2)whichnotifiestheFounderinwritingwithin_________(_________)daysafterreceiptoftheTransferNoticereferredtoinSection3.1(a),shallhavetherighttoparticipateinsuchsaleofEquitySecuritiesonthesametermsandconditionsasspecifiedintheTransferNotice.SuchSellingHolder’snoticetotheFoundershallindicatethenumberofsharesofEquitySecuritiestheSellingHolderwishestosellunderhis,heroritsrighttoparticipate.TotheextentoneormoreoftheHoldersexercisesuchrightofparticipationinaccordancewiththetermsandconditionssetforthbelow,thenumberofsharesofEquitySecuritiesthattheFoundermaysellintheTransfershallbecorrespondinglyreduced.(b)EachSellingHoldermaysellalloranypartofthatnumberofsharesofEquitySecuritiesequaltotheproductobtainedbymultiplying(i)theaggregatenumberofsharesofEquitySecuritiescoveredbytheTransferNoticeby(ii)afraction,thenumeratorofwhichisthenumberofsharesofCommonStock(includingsharesofCommonStockissuableuponconversionofPreferredShares)ownedbytheSellingHolderonthedateoftheTransferNoticeandthedenominatorofwhichisthetotalnumberofsharesofCommonStock(includingsharesofCommonStockissuableuponconversionofPreferredShares)ownedbyFounderandalloftheSellingHoldersonthedateoftheTransferNotice.(c)EachSellingHoldershalleffectitsparticipationinthesalebypromptlydeliveringtotheFounderfortransfertotheprospectivepurchaseroneormorecertificates,properlyendorsedfortransfer,whichrepresent:(i)thetypeandnumberofsharesofEquitySecuritieswhichsuchSellingHolderelectstosell;or(ii)thatnumberofsharesofEquitiesSecuritieswhichareatsuchtimeconvertibleintothenumberofsharesofCommonStockwhichsuchSellingHolderelectstosell;provided,however,thatiftheprospectivethird-partypurchaserobjectstothedeliveryofEquitySecuritiesinlieuofCommonStock,suchSellingHoldershallconvertsuchEquitySecuritiesintoCommonStockanddeliverCommonStockasprovidedinthisSection3.2.TheCompanyagreestomakeanysuchconversionconcurrentwiththeactualtransferofsuchsharestothepurchaserandcontingentonsuchtransfer.(d)ThestockcertificateorcertificatesthattheSellingHolderdeliverstotheFounderpursuanttoSection3.2(d)shallbetransferredtotheprospectivepurchaserinconsummationofthesaleoftheEquitySecuritiespursuanttothetermsandconditionsspecifiedintheTransferNotice,andtheFoundershallconcurrentlytherewithremittosuchSellingHolderthatportionofthesaleproceedstowhichsuchSellingHolderisentitledbyreasonofitsparticipationinsuchsale.TotheextentthatanyprospectivepurchaserorpurchasersprohibitssuchassignmentorotherwiserefusestopurchasesharesorothersecuritiesfromaSellingHolderexercisingitsrightsofco-salehereunder,theFoundershallnotselltosuchprospectivepurchaserorpurchasersanyEquitySecuritiesunlessanduntil,simultaneouslywithsuchsale,theFoundershallpurchasesuchsharesorothersecuritiesfromsuchSellingHolderforthesameconsiderationandonthesametermsandconditionsastheproposedtransferdescribedintheTransferNotice.3.3Non-ExerciseofRights.TotheextentthattheCompanyandtheHoldershavenotexercisedtheirrightstopurchasetheOfferedSharesortheRemainingShareswithinthetimeperiodsspecifiedinSection3.1andtheHoldershavenotexercisedtheirrightstoparticipateinthesaleoftheOfferedSharesortheRemainingShareswithinthetimeperiodsspecifiedinSection3.2,theFoundershallhaveaperiodof_________(_________)daysfromtheexpirationofsuchrightsinwhichtoselltheOfferedSharesortheRemainingShares,asthecasemaybe,upontermsandconditions(includingthepurchaseprice)nomorefavorablethanthosespecifiedintheTransferNoticetothethird-partytransferee(s)identifiedintheTransferNotice.Thethird-partytransferee(s)shallacquiretheRemainingSharesfreeandclearofsubsequentrightsoffirstrefusalandco-salerightsunderthisAgreement.IntheeventFounderdoesnotconsummatethesaleordispositionoftheRemainingShareswithinthe_________(_________)dayperiodfromtheexpirationoftheserights,theCompany’sfirstrefusalrightsandtheHolders’firstrefusalrightsandco-salerightsshallcontinuetobeapplicabletoanysubsequentdispositionoftheOfferedSharesortheRemainingSharesbyFounderuntilsuchrightlapsesinaccordancewiththetermsofthisAgreement.Furthermore,theexerciseornonexerciseoftherightsoftheCompanyandtheHoldersunderthisSection3topurchaseEquitySecuritiesfromtheFounderorparticipateinsalesofEquitySecuritiesbytheFoundershallnotadverselyaffecttheirrightstomakesubsequentpurchasesfromtheFounderofEquitySecuritiesorsubsequentlyparticipateinsalesofEquitySecuritiesbytheFounder.3.4LimitationstoRightsofRefusalandCo-Sale.NotwithstandingtheprovisionsofSection3.1and3.2ofthisAgreement,theFoundermaysellorotherwiseassign,withorwithoutconsideration,EquitySecuritiestoanyspouseormemberofFounder’simmediatefamily,ortoacustodian,trustee(includingatrusteeofavotingtrust),executor,orotherfiduciaryfortheaccountoftheFounder’sspouseormembersoftheFounder’simmediatefamily,ortoatrustfortheFounder’sownself,oracharitableremaindertrust,providedthateachsuchtransfereeorassignee,priortothecompletionofthesale,transfer,orassignmentshallhaveexecuteddocumentsassumingtheobligationsoftheFounderunderthisAgreementwithrespecttothetransferredsecurities.[Inaddition,theFounder’stransferofuptoanaggregate%ofthesharesofCommonStockinitiallysubjecttothisAgreementorEquitySecuritiesconvertibleintosuchnumberofsharesofCommonStockshallnotbesubjecttothetermsofSection3.2][COMMENT:Rightsoffirstrefusalandco-salerightsroutinelyexempttransferswithinthefounder’sfamilyandtransfersmadeforestateplanningpurposes,providedthatthetransfereeofthesharesisboundbythetermsoftheAgreement.Inaddition,exceptionsfromcosalerightsfortransfersofsmallnumbersofsharesareoftenallowedforadministrativeconvenienceortopermitthefoundertoachievelimitedamountsofliquidity.]3.5ProhibitedTransfers.(a)IntheeventtheFoundershouldsellanyEquitySecuritiesincontraventionoftheco-salerightsoftheHoldersunderSection3.2(aProhibitedTransfer),theHolders,inadditiontosuchotherremediesasmaybeavailableatlaw,inequityorhereunder,shallhavetheputoptionprovidedbelow,andtheFoundershallbeboundbytheapplicableprovisionsofsuchoption.(b)IntheeventofaProhibitedTransfer,eachHoldershallhavetherighttoselltotheFounderthetypeandnumberofsharesofEquitySecuritiesequaltothenumberofshareseachHolderwouldhavebeenentitledtotransfertothethird-partytransferee(s)underSection3.2hereofhadtheProhibitedTransferbeeneffectedpursuanttoandincompliancewiththetermshereof.Suchsaleshallbemadeonthefollowingtermsandconditions:(i)ThepricepershareatwhichthesharesaretobesoldtotheFoundershallbeequaltothepricepersharepaidbythethird-partytransferee(s)totheFounderintheProhibitedTransfer.TheFoundershallalsoreimburseeachHolderforanyandallfeesandexpense,includinglegalfeesandexpenses,incurredpursuanttotheexerciseortheattemptedexerciseoftheHolder’srightsunderSection3.(ii)Within_________(_________)daysafterthelaterofthedatesonwhichtheHolder(A)receivednoticeoftheProhibitedTransferor(B)otherwisebecomeawareoftheProhibitedTransfer,eachHoldershall,ifexercisingtheoptioncreatedhereby,delivertotheFounderthecertificateorcertificatesrepresentingsharestobesold,eachcertificatetobeproperlyendorsedfortransfer.(iii)TheFoundershall,uponreceiptofthecertificateorcertificatesforthesharestobesoldbyaHolder,pursuanttothisSection3.5,paytheaggregatepurchasepricethereforandtheamountofreimbursablefeesandexpenses,asspecifiedinsubparagraph3.5(b)(i),incashorbyothermeansacceptabletotheHolder.(iv)Notwithstandingtheforegoing,anyattemptbytheFoundertotransferEquitySecuritiesinviolationofSection3hereofshallbevoidandtheCompanyagreesitwillnoteffectsuchatransfernorwillittreatanyallegedtransferee(s)astheholderofsuchshareswithoutthewrittenconsentofamajorityininterestoftheHolders.[COMMENT:Thisprovisionaffordsinvestorstheeconomicbenefitsoftheirco-salerightsshouldthefounderconsummateasalewithoutcomplyingwiththetermsofthisAgreement.Note,however,thattheinvestorsmaybelievethefoundersoldhisorhersharesattoolowapriceortoapartythattheCompanyortheinvestorsdonotwishtohaveasastockholderandthereforeprovidingtheopportunitytoshareintheeconomicsofthesaleafterthefactisnotasufficientremedy.Accordingly,Section3.5(a)statesthatthisforcedsaletothefounderisnottheparties’soleremedy.]4.AssignmentsandTransfers;NoThirdPartyBeneficiaries.ThisAgreementandtherightsandobligationsofthepartieshereundershallinuretothebenefitof,andbebindingupon,theirrespectivesuccessors,assignsandlegalrepresentatives,butshallnototherwisebeforthebenefitofanythirdparty.TherightsoftheHoldershereunderareonlyassignable(i)byeachofsuchHolderstoanyotherHolder,(ii)toapartneroraffiliateofsuchHolderor(iii)toanassigneeortransfereewhoacquiresalloftheEquitySecuritiespurchasedbyaStockholderoratleastsharesofCommonStock(includingsharesofCommonStockissuableuponconversionofPreferredShares).5.Legend.EachexistingorreplacementcertificateforsharesnowownedorhereafteracquiredbytheFoundershallbearthefollowinglegenduponitsface:THESALE,PLEDGE,HYPOTHECATION,ASSIGNMENTORTRANSFEROFTHESECURITIESREPRESENTEDBYTHISCERTIFICATEISSUBJECTTOTHETERMSANDCONDITIONSOFACERTAINRIGHTOFFIRSTREFUSALANDCO-SALEAGREEMENTBYANDBETWEENTHESTOCKHOLDER,THECORPORATIONANDCERTAINHOLDERSOFSTOCKOFTHECORPORATION.COPIESOFSUCHAGREEMENTMAYBEOBTAINEDUPONWRITTENREQUESTTOTHESECRETARYOFTHECORPORATION.[COMMENT:Inadditiontolegendingsharecertificates,someagreementsrequirethatthefounder’ssharecertificatesbeheldinescrowbytheSecretaryoftheCompanytofurtherminimizetheriskofanytransfersnotincompliancewiththetermsofthisAgreement.]6.EffectofChangeinCompany’sCapitalStructure.Appropriateadjustmentsshallbemadeinthenumberandclassofsharesintheeventofastockdividend,stocksplit,reversestocksplit,combination,reclassificationorlikechangeinthecapitalstructureoftheCompany.[COMMENT:IfAgreementdoesnotincludetheFounder’ssubsequentlyacquiredstock,thenconsideraddingthefollowingtothissection:If,fromtimetotime,thereisanystockdividend,stocksplitorotherchangeinthecharacteroramountofanyoftheoutstandingstockoftheCompany,theninsucheventanyandallnew,substitutedoradditionalsecuritiestowhichtheFounderisentitledbyreasonoftheFounder’sownershipofthestockshallbeimmediatelysubjecttotherightsandobligationssetforthinSection3withthesameforceandeffectasthestocksubjecttosuchrightsimmediatelybeforesuchevent.]7.Notices.AnynoticerequiredorpermittedbyanyprovisionofthisAgreementshallbegiveninwritingandshallbedeliveredpersonallyorbycourier,orbyregisteredorcertifiedmail,postageprepaid,addressed(i)inthecaseoftheFoundertotheFounder’saddressassetforthinthesignaturepagesheretoorsuchotheraddressastheFoundermaydesignateinwritingfromtimetotime,(ii)inthecaseoftheCompany,toitsprincipaloffice,(iii)inthecaseofanyPurchaserwhichisanoriginalpartytothisAgreementattheaddressofsuchPurchaserassetforthinthesignaturepagesheretoorsuchotheraddressforsuchPurchaserasshallbedesignatedinwritingfromtimetotimebysuchPurchaser;and,(iv)inthecaseofanypermittedtransfereeofapartytothisAgreementoritstransferee,tosuchtransfereeatitsaddressasdesignatedinwritingbysuchtransfereetotheCompanyfromtimetotime.Noticesthataremailedshallbedeemedreceived_________(_________)daysafterdepositintheUnitedStatesmail.Noticessentbycourierorovernightdeliveryshallbedeemedreceived_________(_________)daysaftertheyhavebeensosent.8.FurtherInstrumentsandActions.ThepartiesagreetoexecutesuchfurtherinstrumentsandtotakesuchfurtheractionasmayreasonablybenecessarytocarryouttheintentofthisAgreement.TheFounderagreestocooperateaffirmativelywiththeCompany,thePurchasersandtheHolders,totheextentreasonablyrequestedbytheCompany,thePurchasersortheHolders,toenforcerightsandobligationspursuanthereto.9.Term.ThisAgreementshallterminateupontheearlierof(i)theclosingofafirmcommitmentunderwrittenpublicofferingpursuanttoaneffectiveregistrationstatementundertheSecuritiesActof1933,asamended,[coveringtheofferandsaleoftheCompany’sCommonStockatapricepershareofnotlessthan[$_________](asadjustedforstocksplits,reversestocksplitsandthelikeeffectedafterthedateofthisAgreement)andanaggregateofferingpriceofnotlessthan[$_________]]and(ii)theclosingoftheCompany’ssaleofallorsubstantiallyallofitsassetsortheacquisitionoftheCompanybyanotherentitybymeansofmerger,consolidationorothertransactionorseriesofrelatedtransactionsresultingintheexchangeoftheoutstandingsharesoftheCompany’scapitalstocksuchthatthestockholdersoftheCompanypriortosuchtransactionown,directlyorindirectly,lessthan_________%ofthevotingpowerofthesurvivingentity.[COMMENT:These