Option Exercises. Nothing in this Agreement shall require a Stockholder to exercise any option or warrant to purchase shares of Common Stock of the Company.
Option Exercises. Upon the exercise of any option issued under the 1994 Plan, the optionee shall execute a Stock Purchase and Restriction Agreement in substantially the form of Exhibit B, as amended, to the 1994 Plan.
Option Exercises. Nothing in this Agreement shall require Stockholder to exercise any Parent Options or warrants to purchase Parent Common Stock.
Option Exercises. The exercise price per share of Chemical Common Stock under each Unexercised Option shall be equal to the exercise price per share of the O.A.K. Common Stock that was purchasable under any such Unexercised Option divided by the Merger Consideration (rounded to the nearest whole cent).
Option Exercises. There are presently issued and outstanding options to purchase a total of 454,800 shares of the capital stock of Acquiree ("Acquiree Stock Options"). All of the said Acquiree Stock Options are held by certain of the Shareholders. The parties hereto agree that upon the effectuation of the Acquisition: (i) all Acquiree Stock Options shall be exercisable for the purchase of shares of the common stock of the Acquoror and shall no longer be exercisable for the purchase of shares of the capital stock of the Acquiree; (ii) the number of shares purchasable pursuant to the exercise of the Acquiree Stock Options shall be increased at a ratio of 1:3.25, enabling the holders of such options to purchase 3.25 shares of Acquiror's common stock for each share of Acquiree Capital Stock for which such options were formerly exercisable, at any time during the respective option exercise periods presently in effect; and (iii) the exercise prices of each Acquiree Stock Option will be adjusted downward so that the exercise price for the purchase of 3.25 shares of Acquiror's Common Stock after the Acquisition shall be the same as the exercise price for the purchase of one share of Acquiree's stock prior to the Acquisition.
Option Exercises. Between the date hereof and the Effective Time, Parent and the Company shall use their respective commercially reasonable efforts to bring about the voluntary exercise of vested options for up to 1,400,000 Company Common Shares, and the subsequent sale of such Company Common Shares.
Option Exercises. Nothing in this Agreement shall require Stockholder to exercise any API Options or warrants to purchase API Common Stock.
Option Exercises. Nothing in this Agreement shall require NAR to exercise any option or warrant to purchase shares of Common Stock of the Company.
Option Exercises. The Stockholder agrees that from the execution and ---------------- delivery of this Agreement until the Effective Time, the Stockholder shall not exercise any Stockholder Company Options (in whole or in part) without the prior written consent of the Company and Parent. The Company shall place an option exercise limitation notice consistent with the foregoing in the stock option records of the Company with respect to the Stockholder Company Options, and notify the stock administrator under the Company Option Plans of such restriction. The Company and Parent shall not withhold their consent to any exercise of Stockholder Company Options if such exercise, together with all exercises of Company Stock Options and notices of intent to exercise received as of June 10, 2001, would not affect Parent's ability to effectuate the Merger without a vote of its stockholders in compliance with Rule 4350 of the NASD Marketplace Rules. In making its determination under the previous sentence, Parent shall utilize the methodology utilized by Parent in connection with the execution of the Merger Agreement for determining compliance with Rule 4350 of the NASD Marketplace Rules. If the Stockholder wishes to exercise a Company Option (in whole or in part), the Stockholder shall notify the Company and Parent of the Stockholder's desire to do so. Such notice shall be in writing and shall specify the number of shares of Company Common Stock that the Stockholder wishes to purchase by exercising a Stockholder Company Option. As soon as practicable following the delivery of such notice (but in no event more than 5 business days thereafter), Parent and the Company shall advise the Stockholder in writing as to whether or not each of them consents to such exercise, and, if such consent is withheld, the basis on which the proposed exercise would affect Parent's ability to effectuate the Merger without a vote of Parent's stockholders in compliance with Rule 4350 of the NASD Marketplace Rules.
Option Exercises. Vested Options granted as part of the Retention Award that are or become exercisable remain exercisable for the remaining term of the Option, subject to the provisions of Section 3(b)(iii)C above.
