Common Stock Purchase Options Sample Clauses

Common Stock Purchase Options. Upon closing of the purchase of 100% of the equity interests of the Company by the Parent, Executive will be issued an incentive stock option, as defined in the Internal Revenue Code of 1986, as amended, to purchase up to 2,000,000 common shares, par value $.001, of Parent. The exercise price of the incentive stock options will be equal to the fair market value of Parent's common stick, determined with reference to the price of the last sale of Parent common stock as reported by the Electronic Bulletin Board on the day of closing of the purchase and sale. One-third of the original number of options may be exercised respectively on the first, second and third anniversary of the closing of the purchase and sale. The options will expire ten years after the closing of the purchase and sale.

Common Stock Purchase Options. As additional consideration under the Investor Relations Agreement, La-Man hereby grants to Halyx options ("Option" or "Options") to purchase up to 50,000 newly issued shares of Common Stock (the "Underlying Shares") from La-Man on the following terms and conditions: (a) The exercise price shall be $1.5422 per share, such price being equal to 105% of the quoted trading price of the Common Stock on the March 18, 1997 grant date, as published by The Nasdaq SmallCap Market. (b) The expiration date of the Options shall be March 17, 2001. (c) The Options shall vest and become exercisable as follows: (i) Options for 15,000 Underlying Shares shall vest and become irrevocable and exercisable on and after March 18, 1997; (ii) Options for 15,000 Underlying Shares shall vest and become irrevocable and exercisable on September 18, 1997; and (iii) Options for the remaining 20,000 Underlying Shares shall vest and become irrevocable and exercisable on March 18, 1998. (d) Options shall be exercised in blocks of 1,000 shares or any multiple thereof. (e) Notwithstanding any provisions contained in this Agreement to the contrary, any and all Options not vested upon the effective date of termination of the Investor Relations Agreement shall terminate, be deemed null and void, and be of no further force and effect.

Common Stock Purchase Options. As additional consideration under the FPR Agreement, the Company hereby grants to Pacific options ("Option" or "Options") to purchase up to 135,000 newly issued shares of Common Stock (the "Underlying Shares") from La-Man on the following terms and conditions: (a) The expiration date of the Options shall be August 28, 2001. (b) The Options shall be exercisable as follows: (i) Options for 75,000 Underlying Shares shall be exercisable at the price of $3.25 per share; (ii) Options for 30,000 Underlying Shares shall be exercisable at the price of $3.75 per share; and (iii) Options for the remaining 30,000 Underlying Shares shall be exercisable at the price of $4.50 per share. (c) Options shall be exercised in blocks of 5,000 shares or any multiple thereof. (d) Pacific may exercise the Options by delivering written notice to the Company stating the number of Options to be exercised, accompanied by check or other good funds in the amount of the total exercise price. Also, Pacific may surrender all or part of the Options and receive in exchange an amount equal to the difference between the then fair market value of the Underlying Shares issuable upon exercise of the Option surrendered and the option price payable upon exercise of the Option surrendered (the "Spread"). Such rights: (i) will expire no later than the expiration of the Options; (ii) may be for no more than 100% of the Spread; (iii) will be transferable only if and when the underlying Option is transferable, and under the same conditions; (iv) shall be exercised only when the Underlying Shares that are issuable upon exercise of such Option have been registered under the Securities Act or may be sold publicly under Rule 144 promulgated under the Securities Act; and (v) may be exercised only when the Spread is positive, i.e., when the market price of the Common Stock subject to the Option exceeds the exercise price of such Option.

Common Stock Purchase Options. Upon execution of this Agreement, Service Provider shall also be granted 100,000 5-year options priced at 100% of the fair market value of WMTC common stock at the Effective Date. Vesting for the options will be as follows: 25% immediately and 12.5% as of the end of each three-month period thereafter until fully

Common Stock Purchase Options. Upon execution of this agreement, Executive will be issued One Million (1,000,000) shares of common stock of the Company. Executive will additionally be issued a non-qualified stock option, as defined in the Internal Revenue Code of 1986, as amended, to purchase up to Two Million (2,000,000) common shares of the Company, par value $.001. The exercise price of the incentive stock options will be priced at five cents ($.05) per share or 50% of the fair market value of the common stock, whichever is the lesser of the two, determined with reference to the average closing price of common stock as reported by the Electronic Bulletin Board of the prior 10 trading days of the exercise date of each option period. Options shall be issued with a cashless exercise option. One-fourth of the original number of options may be exercised respectively on the expiration of the first, second, third and fourth six month period after the original issuance. The options will expire 10 years after the issuance. Any change in ownership, or subsequent licensing agreements, that constitute a majority ownership transfer, or transfer of management control of OVADX, except for the creation of subsidiaries to this corporation, will accelerate the exercise schedule as listed in 4.05. At the event of any or all of the above, all options may be immediately exercised.