Common use of Nature of the Restrictions Clause in Contracts

Nature of the Restrictions. to which the property is subject: If the taxpayer’s service to the Company terminates for any reason before the Common Stock vests, the Company will repurchase the Common Stock from the taxpayer at $.01 per share. The Common Stock vests according to the following schedule: The Common Stock is non-transferable in the taxpayer’s hands, by virtue of language to that effect stamped on the stock certificate.