Granting of Option Clause Samples
The 'Granting of Option' clause formally establishes the right of an individual, typically an employee or contractor, to purchase a specified number of shares in a company at a predetermined price. This clause outlines the terms under which the option is granted, such as the number of shares, the exercise price, and any conditions or timelines for exercising the option. By clearly defining these parameters, the clause ensures both parties understand the scope and limitations of the option, thereby providing a transparent mechanism for incentivizing and retaining key personnel.
Granting of Option. The Company hereby irrevocably grants to the Optionee a non-transferable option to purchase 65,000 shares in the capital stock of the Company (hereinafter called the "Option") at a price of $0.58 per share (the "Option Price") on the terms and conditions hereinafter set forth.
Granting of Option. The Company hereby irrevocably grants to the Optionee a non-assignable, non-transferable option to purchase ♦ Shares (the “Option”) at a price of $♦ per Share (the “Option Price”).
Granting of Option. Subject to the terms and conditions of this Agreement, the Corporation hereby grants to the Optionee the irrevocable option to purchase up to [Number of options] Shares (the “Option”), exercisable at the price of CDN $[Exercise price] per Share (the “Exercise Price”), at any time and from time to time until 4:00 p.m. (Calgary time) on [Expiration date (five years after Effective date)] (the “Expiry Time”), at which time the Option shall expire and all rights to purchase Shares hereunder shall cease and become null and void.
Granting of Option. 1.1 Unless otherwise disclosed to and agreed by Party A expressly in writing, the Parties have agreed that Party A has the exclusive option from the date when this Agreement comes to effect. Subject to this Agreement, Party A or any third party designated by it has the option to purchase all shares of the Principals in Party D from time to time at the lowest price allowed by the laws and regulations of the PRC when such option is exercised. Such option shall be granted to Party A with immediate effect after this Agreement is entered into by the Parties and comes to effect, and shall not be cancelled or altered in the Term of this Agreement (including any period extended according to Section 1.2 below).
Granting of Option. 2.1 The Sellers hereby irrevocably grant to Impco, which hereby accepts, the right to enter into the Contracts, within the terms and pursuant to the conditions set out herein.
2.2 By way of implementation of the granting of the Option, simultaneously with the signing of this Option Agreement and with payment by Impco of the first tranche of the Option Price pursuant to Section 3.1.1 below, the Parties have executed or caused to be executed the following actions:
2.2.1 The Sellers have registered the Quota in the name of the Fiduciary Company, pursuant to the Fiduciary Terms and the Irrevocable Instructions. The Sellers, Impco and the Fiduciary Company have signed and exchanged the Fiduciary Terms and the Irrevocable Instructions. The Sellers have signed the Contracts and have delivered them to the Fiduciary Company to be kept and disposed of in accordance with the Irrevocable Instructions.
Granting of Option. 2.1 Each of the Existing Shareholders hereby separately and collectively agrees to grant, irrevocably and without any conditions, an exclusive option to the Option Holder or any entity or person designated by the Option Holder, based on which, the Option Holder has the right to require the Existing Shareholders to transfer the Underlying Equity to the Option Holder or any one or more entities or persons designated by the Option Holder in accordance with the provisions of the Agreement, subject to the permission of the PRC laws. The Option Holder agrees to accept the Option. Each of the Existing Shareholders hereby waives its respective right of preemption with respect to the shares of the Company under the Articles of Association of the Company and the PRC laws, and irrevocably agree to the transfer of any underlying equity by any shareholder to the Option Holder or its designated entity or person.
2.2 The Company approves the granting of the Option to the Option Holder by the Existing Shareholders according to Article 2.1 and other provisions of the Agreement.
2.3 The Existing Shareholders and the Company hereby confirm that the Option shall also be deemed to include an irrevocable exclusive right to purchase all or part of the assets of the Company (including but not limited to all the tangible and intangible assets currently owned by the Company and which may be acquired in the future, such as computer software copyright, patent right, patent application right, trademark and trademark application, proprietary technology, domain name, etc.) granted simultaneously by the Existing Shareholders and the Company to the Option Holder or its designated entity or person. All terms and conditions of this Agreement (including the price terms) shall apply in full to the purchase of all or part of the assets of the Company by the Option Holder or its designated entity or person under the Agreement, except that the application of such terms and conditions would violate the provisions of applicable laws and regulations. The Option Holder or its designated entity or person may elect to purchase all or part of the equity held by any existing shareholder separately, or purchase all or part of the assets of the Company, or exercise both.
Granting of Option. On the offering date, this Plan shall be deemed to have granted to the participant an option for as many full shares as he will be able to purchase with the payroll deductions credited to his account during his participation in that offering. Notwithstanding the foregoing, no participant may purchase more than 2,250 shares of stock during any single offering.
Granting of Option. Subject to the terms and conditions of this Agreement, the Corporation hereby grants to the Optionee the option (the “Option”) to purchase up to [Number] Shares, exercisable at the price of CAD$ [Exercise price] per Share (the “Exercise Price”), at any time and from time to time until 5:00 p.m. (prevailing Eastern time) on [Expiration date] (the “Expiration Time”), at which time the Option shall expire and all rights to purchase Shares hereunder shall cease and become null and void. The Option is not intended to qualify as an “incentive stock option” within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended.
Granting of Option. At the _________, 20__ meeting, the Committee approved the granting of an Option to the Participant to purchase _____ Shares under this Option at a price of $____ per Share until _________, 20__, such price being the average of the high and low price of a Share as reported on the New York Stock Exchange for _________, 20__.
Granting of Option. The Sellers hereby irrevocably grant to Impco, which hereby accepts, the right to enter into the Contracts, within the terms and pursuant to the conditions set out herein.