Common use of Transfer of the Securities Clause in Contracts

Transfer of the Securities. For the sum of $0.003 per share, the Transferor hereby agrees to sell the Shares to the Transferees immediately prior to effectiveness of the Company’s registration statement in connection with the IPO. It is a condition of such sale that the applicable Transferee serves as director of the Company at the closing of the IPO. Each Transferee severally and not jointly hereby agrees that, in the event that such Transferee ceases to serve as a director of the Company for any reason prior to the closing of the IPO, such Transferee shall execute a share transfer form in form and substance similar to the share transfer form annexed this Agreement as Schedule 1 pursuant to which the Transferee shall immediately transfer the Shares held by such Transferee to the Transferor for no consideration and shall have no further legal or beneficial, right, title or interest in or to the Shares. The Shares shall be subject to the letter agreement to be entered into by the Transferee and the Company in connection with the IPO.

Transfer of the Securities. For the sum of $0.003 per share, the Transferor hereby agrees to sell the Shares to the Transferees immediately prior to effectiveness of the Company’s registration statement in connection with the IPO. It is a condition of such sale that the applicable Transferee serves as director of the Company at the closing of the IPO. Each Transferee severally and not jointly hereby agrees that, in the event that such Transferee ceases to serve as a director of the Company for any reason prior to the closing of the IPO, such Transferee shall execute a share transfer form in form and substance similar to the share transfer form annexed to this Agreement as Schedule 1 pursuant to which the Transferee shall immediately transfer the Shares held by such Transferee to the Transferor for no consideration and shall have no further legal or beneficial, right, title or interest in or to the Shares. The Shares shall be subject to the transfer restrictions set forth in the letter agreement to be entered into by the Transferee and the Company in connection with the IPO.