Common use of Initial Grant Clause in Contracts

Initial Grant. COMPANY shall issue to ▇▇▇▇▇▇▇▇▇ a total of [***] shares of Common Stock of COMPANY, $0.001 par value per share, (the “Shares”) in the name of ▇▇▇▇▇▇▇▇▇, which shares represent the equivalent to [***] of the capitalization of COMPANY on a Fully-Diluted Basis (as defined below), after giving effect to the sale of [***] in COMPANY equity, subject to ▇▇▇▇▇▇▇▇▇ and, to the extent ▇▇▇▇▇▇▇▇▇ has transferred such Shares, any of its transferees (the “▇▇▇▇▇▇▇▇▇ Holders”) entering into a representation letter in substantially the form attached hereto as Appendix C with respect to such issuance of shares to ▇▇▇▇▇▇▇▇▇ and the ▇▇▇▇▇▇▇▇▇ Holders.