MathStar Option Clause Samples

MathStar Option. VTI hereby grants to MathStar an option (the “MathStar Option”) to purchase a number of shares of VTI’s capital stock equal to ten percent (10%) of VTI’s shares of capital stock on a Fully Diluted Basis as of the date of exercise of the MathStar Option, after taking into account the shares subject to the MathStar Option, for a total purchase price of one million and 00/100 Dollars ($1,000,000.00). The MathStar Option shall vest as to 100% of the shares of capital stock subject to the MathStar Option immediately after VTI becomes a Subchapter C corporation under the Code or upon the termination or expiration of this Agreement, whichever occurs first. The MathStar Option shall have a term of ten (10) years from the Effective Date.