Cancellation of Prior Options Sample Clauses

Cancellation of Prior Options. You acknowledge that the incentive stock option previously granted to you by the Company to purchase 156,064 shares and the non-incentive stock option previously granted to you by the Company to purchase 43,936 shares, each dated as of March 28, 1996, are hereby terminated and canceled and are of no further force and effect. Sincerely yours, VIMRx PHARMACEUTICALS INC. By:__________________________ Name: Title: Agreed to and accepted as of this 15th day of April, 1999. _____________________________________ Signature of Optionee VIMRx Pharmaceuticals Inc. 0000 Xxxxxxxxxxx Xxxx, Xxxxx 000 Xxxxxxxxxx, Xxxxxxxx 00000 As of April 15, 1999 Xx. Xxxxxxx X. Dunning 0000 Xxxxxxxxxxx Xxxx, Xxxxx 000 Xxxxxxxxxx, XX 00000 Re: Amendment to March 28, 1996 Non-Incentive Stock Option Agreement ---------------------------------------------------------------- Dear Dick: This letter constitutes an amendment to the Non-Incentive Stock Option Agreement dated as of March 28, 1996, as amended to date, (the "Option Agreement") between you and VIMRx Pharmaceuticals Inc. (the "Company") as follows: In consideration of your willingness to enter into a new employment agreement with the Company, the parties hereto acknowledge and agree that (i) the exercise price of the option with respect to 600,000 shares is changed from $2.5625 per share to $1.50 per share; (ii) options with respect to 43,936 shares are hereby terminated and canceled and are of no further force and effect, and (iii) the reference in paragraphs 5 and 11(a) of the Option Agreement providing the option must be exercised within three months following termination of employment is deleted, so that such exercise must occur prior to the expiration date of the option. Except as expressly set forth herein, the Option Agreement shall remain in full force and effect. Please sign below in the space provided to signify your consent to the foregoing amendment. Very truly yours, VIMRX PHARMACEUTICALS INC. By:________________________________ I hereby acknowledge and agree to the foregoing amendment.
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Cancellation of Prior Options. NutraCea previously granted to Employee (collectively “Prior Options”), (i) on or about the date of the Letter Agreement, a nonqualified stock option to purchase 250,000 shares of NutraCea’s common stock pursuant to the terms and conditions of the NutraCea 2005 Equity Incentive Plan (“2005 Plan”) and an associated stock option agreement, and (ii) as of the date of the Prior Employment Agreement, an option to purchase an additional 350,000 shares pursuant to the terms and conditions of the 2005 Plan and an associated stock option agreement. Employee and NutraCea agree that all such Prior Options be and are hereby cancelled and of no further force or effect.
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Cancellation of Prior Options. The 1996 Option Agreement was issued to the Optionee in exchange for an option originally granted by Concord to the Optionee as of May 1, 1996, for the purchase up to 60,000 shares (pre-split) of Common Stock, which option was cancelled and replaced with the option described in the 1996 Option Agreement. Concurrently herewith, the Optionee has delivered to Concord and Concord hereby acknowledges receipt of the 1996 Option Agreement, which is hereby cancelled and replaced with this Option Agreement.
Sample 1
Cancellation of Prior Options. In exchange for the consideration described in Section 1.2 below, the Optionholder hereby agrees that the Prior Agreement and the Prior Options granted thereunder, shall be cancelled, terminated, and of no further force or effect, effective on the Cancellation Date, and neither the Company nor the Optionholder shall have any further rights or obligations with respect to the Prior Options, the Prior Agreement, or with respect to any shares of Common Stock of the Company that could have been purchased upon exercise of the Prior Options.
Sample 1
Cancellation of Prior Options. The parties hereto agree and confirm that ----------------------------- any and all, oral and written, agreements and arrangements relating to the Executive's right to purchase or receive from the Company, Old IDT or any of their affiliates stock or other securities of such entities from any of them, including, without limitation, the stock options reflected in the Agreements, dated as of December 28, 1995, by and between the Executive and Old IDT (the "Prior Agreements"), but excluding all options granted to the Executive pursuant to the 1996 Stock Option and Incentive Plan, are hereby canceled, terminated and of no further force and effect. 2.
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Cancellation of Prior Options. Any and all options that the undersigned holds to acquire shares of the Company’s common stock issued to the undersigned prior to the Date of Grant as defined herein be and hereby are cancelled, terminated, and of no further force or effect.
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Cancellation of Prior Options. The parties agree that the contingently-granted Prior Options are hereby irrevocably canceled and forfeited in favor of the New Option granted by this Agreement. 8 OPTIONEE: RICXXXX X. XXXXXXX - 1,650,000 SHARES Executed to be effective as of May 1, 2000. BINDVIEW DEVELOPMENT CORPORATION, BY: The New Option has been accepted by the undersigned, subject to the terms and provisions of the Plan and of this Agreement. ---------------------------------- -------------------------------------- Erix X. Xxxxxxx, Xhairman of the Ricxxxx X. Xxxxxxx Xxard, on behalf of the Company and the Board
Sample 1
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Related to Cancellation of Prior Options

  • Cancellation of Options In exchange for the consideration described in Section 1.2 below, the Participant hereby agrees that the Award Agreement and the Participant’s interests in the Underwater Options shall be cancelled, terminated, and of no further force or effect, effective as of the Effective Date, and that neither the Company nor the Participant shall have any further rights or obligations with respect to the Award Agreement, the Underwater Options, or with respect to which any shares of Common Stock that could have been acquired upon vesting and exercise of the Underwater Options.

  • Cancellation of Agreement In the event that prior to the Closing Date (a) trading in securities on the New York Stock Exchange generally, or in securities of the Bank in particular, shall have been suspended, or minimum prices established by the New York Stock Exchange, or any new restrictions on transactions in securities shall have been established by the New York Stock Exchange or by the Commission or by any other United States Federal or State agency or by any action of the United States Congress or by executive order to such a degree as, in your judgment as the Representatives, to affect materially and adversely the marketing of the Securities or (b) existing financial, political or economic conditions in Europe, the United States or elsewhere shall have undergone any change which, in your judgment as the Representatives, would materially and adversely affect the market for the Securities, this Agreement and all obligations of the Underwriters hereunder may be canceled at, or at any time prior to, the Closing Date by you, as the Representatives, without liability on the part of any Underwriter to the Bank or of the Bank to any Underwriter, subject to Section 11(e). Notice of such cancellation shall be given to the Bank in writing, or by cable or telephone confirmed in writing.

  • Cancellation of Notes Any Person that receives a Note surrendered for payment, registration of transfer, exchange or redemption will deliver the Note to the Indenture Trustee and the Indenture Trustee will promptly cancel it. The Issuer may surrender to the Indenture Trustee for cancellation Notes previously authenticated and delivered under this Indenture which the Issuer may have acquired, and the Indenture Trustee will promptly cancel them. No Notes will be authenticated in place of or in exchange for Notes cancelled as stated in this Section 2.10. The Indenture Trustee may hold or dispose of cancelled Notes according to its standard retention or disposal policy unless the Issuer directs, by Issuer Order, that they be destroyed or returned to it.

  • Acceleration of Options One hundred (100%) percent of the Executive’s outstanding, unvested options, restricted stock and/or equity awards (“Equity Awards”) shall, immediately prior to the consummation of the Change in Control, become fully and immediately vested to the extent not already so provided under the terms of such Equity Awards; provided, however, that if the acquirer in a Change in Control grants Equity Awards having (in the reasonable opinion of the Board) a value at least equal to the value of Executive’s then-unvested Company Equity Awards, then 50% of the Executive’s outstanding, unvested Company Equity Awards shall become fully and immediately vested immediately prior to the consummation of the Change in Control (and the remaining 50% shall terminate upon the consummation of the Change in Control). Notwithstanding any provisions of the stock option plan or stock option agreement pursuant to which any stock options subject to the preceding sentence were granted, the Executive shall be entitled to exercise such Equity Awards until three years from the date of termination of employment or the expiration of the stated period of the Equity Award, whichever period is the shorter.

  • Cancellation of Warrants In the event the Company shall purchase or otherwise acquire Warrants, the same shall thereupon be cancelled and retired. The warrant agent (if so appointed) shall cancel any Warrant surrendered for exchange, substitution, transfer or exercise in whole or in part.

  • CANCELLATION OPTION If, and only if, an Expansion Failure Event or a Corporate Transfer Event occurs, then Tenant will have the one-time right to terminate this Lease (the “Cancellation Option”) effective as of the last day of the 66th full calendar month of the Lease Term (the “Early Termination Date”). If neither an Expansion Failure Event nor a Corporate Transfer Event occurs, then the Cancellation Option and the provisions of this Section 38.0 will be of no force or effect. Tenant will exercise the Cancellation Option by delivering written notice to Landlord along with the Cancellation Fee (defined below) on or before the date (“Early Termination Notice Deadline”) which is either (i) if the then existing Premises consists of the Premises initially leased hereunder, the date which is 270 days prior to the Early Termination Date, or (ii) if the then existing Premises consists of the Premises initially leased hereunder plus additional premises in the Building, the date which is 365 days prior to the Early Termination Date, time being of the essence. Failure by Tenant to deliver such written notice and pay the Cancellation Fee on or before the Early Termination Notice Deadline will constitute a waiver of Tenant’s Cancellation Option. Landlord will not be obligated to honor the Cancellation Option, and this Section 38.0 shall be null and void, if, on the date of Landlord’s receipt of Tenant’s termination notice, a Default exists. If Tenant elects to terminate this Lease as provided herein, Tenant must pay to Landlord an early termination fee in an amount equal to the sum of the following (plus any applicable sales tax): (a) one month’s Base Rent at the rate (that would have been) applicable in 67th full calendar month of the Lease Term, plus (b), the monthly installment of Tenant’s Share of estimated Expenses and Taxes applicable for such 67th full calendar month, plus (c) the unamortized costs incurred by Landlord in connection with the Leasehold Improvements performed pursuant to the Work Letter Agreement attached hereto (assuming that all such costs were expended on the Commencement Date, regardless of the date of actual expenditure), plus the unamortized cost of leasing commissions and attorneys’ fees paid by Landlord in connection with this Lease, plus the unamortized amount of all Base Rent and Tenant’s Share of Expenses and Taxes abated or reduced ($353,193.75) in respect of the initial Premises, in each case as of the Early Termination Date, amortized over the period beginning on the Commencement Date through the Expiration Date as determined under the Section 1.0 and Article 3, using an interest rate of 9% per annum, plus (d) the unamortized cost of any allowance or other economic concessions, if any, granted by Landlord, and of any commission paid by Landlord, and any rental abatement granted by Landlord, with respect to Tenant’s exercise of its right of first refusal, or any other expansion of the Premises (assuming that all such costs were expended on the commencement date for such expansion space, regardless of the date of actual expenditure), plus the unamortized cost of leasing commissions and attorneys’ fees paid by Landlord in connection with such expansion, in each case as of the Early Termination Date, amortized over the period beginning on the commencement date for such expansion space through the Expiration Date as determined under the Section 1.0 and Article 3, using an interest rate of 9% per

  • Cancellation of Debt The Borrower shall not cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business.

  • Termination of Options The Options, which become exercisable as provided in paragraphs 3 and 4 above, shall terminate and be of no force or effect as follows:

  • Cancellation of Notes Paid, Converted, Etc The Company shall cause all Notes surrendered for the purpose of payment at maturity, repurchase upon a Fundamental Change, redemption, registration of transfer or exchange or conversion (other than any Notes exchanged pursuant to Section 14.12), if surrendered to the Company or any of its agents or Subsidiaries, to be surrendered to the Trustee for cancellation. All Notes delivered to the Trustee shall be canceled promptly by it in accordance with its customary procedures. Except for any Notes surrendered for registration of transfer or exchange, or as otherwise expressly permitted by any of the provisions of this Indenture, no Notes shall be authenticated in exchange for any Notes surrendered to the Trustee for cancellation. The Trustee shall dispose of canceled Notes in accordance with its customary procedures and, after such disposition, shall deliver evidence of such disposition to the Company, at the Company’s written request in a Company Order.

  • Cancellation All Notes surrendered for payment, registration of transfer, exchange or redemption shall, if surrendered to any Person other than the Indenture Trustee, be delivered to the Indenture Trustee and shall be promptly cancelled by the Indenture Trustee. The Issuer may at any time deliver to the Indenture Trustee for cancellation any Notes previously authenticated and delivered hereunder which the Issuer may have acquired in any manner whatsoever, and all Notes so delivered shall be promptly cancelled by the Indenture Trustee. No Notes shall be authenticated in lieu of or in exchange for any Notes cancelled as provided in this Section, except as expressly permitted by this Indenture. All cancelled Notes may be held or disposed of by the Indenture Trustee in accordance with its standard retention or disposal policy as in effect at the time unless the Issuer shall direct by an Issuer Order that they be destroyed or returned to it; provided, that such Issuer Order is timely and the Notes have not been previously disposed of by the Indenture Trustee.

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