Common use of Executive Options Clause in Contracts

Executive Options. The executives identified on Schedule 5.1.14 shall have executed and delivered an Executive Securities Agreement in form and substance satisfactory to Parent providing for, among other things, such executive to contribute to Parent options held by such executives for the purchase of GSE Common Stock in such amounts set forth opposite such executive's name on Schedule 5.1.14 (the "Rollover Options") in exchange for the issuance by Parent of an option for the purchase of its capital stock, and the transactions contemplated by each such agreement shall be consummated on the Effective Date.