Options for Common Stock Sample Clauses

Options for Common Stock. (a) In consideration of the Consultant entering into this Agreement, the Company shall issue to the Consultant 15,000 options to purchase shares of the Company's common stock at $1.50 per share, upon the same terms and conditions as options are granted to the Company's Executive Officers. The options shall be exercisable as follows: one third on 12/15/96, one third on 12/15/97 and one third on 12/15/98. The Consultant will forfeit the options to the Company for no consideration in the event the Consulting arrangement provided for by this Agreement is terminated by either the Consultant or the Company pursuant to Section 2 prior to December 31, 1998. Notwithstanding the foregoing, should the consulting arrangement hereunder be terminated as a result of the Consultant's death or disability, the options shall not be forfeited to the Company, and in the case of the Consultant's death, the options shall be the property of the Consultant's estate, so long as they are exercised within six months after the Consultant's death.
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Options for Common Stock. The Company may, from time to time at ------------------------ the discretion of its Board of Directors, grant to the Executive certain options to purchase Common Stock of the Company (which may or may not qualify as Incentive Stock Options pursuant to Section 422 of the Federal Internal Revenue Code of 1986, as amended). Any such options shall vest over a period of no longer than four (4) years.
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Options for Common Stock. In addition, the Company has granted options for the purchase of shares of its Common Stock to the persons and in the amounts set forth below: NUMBER OF NAME POSITION SHARES VESTING(1) ---- -------- --------- ---------- Dale Xxxxx Senior 170,000 Four years; one year cliff; Programmer quarterly thereafter (with acceleration of rate prior to closing of Series B financing) Ming Xxx Systems 10,000 Immediate Administrator Ping Xxxxx Graphics 90,000 Quarterly over two years Designer Ken Xxxxxxx Senior 200,000(2) Four years; one year Cliff, Engineer quarterly thereafter
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Related to Options for Common Stock

  • PURCHASE OF COMMON STOCK Subject to the terms and conditions set forth in this Agreement, the Company has the right to sell to the Investor, and the Investor has the obligation to purchase from the Company, Purchase Shares as follows:

  • Purchaser Common Stock Each share of common stock, par value $0.001 per share, of the Purchaser (the “Purchaser Common Stock”) issued and outstanding immediately prior to the Effective Time shall be converted into and become one newly and validly issued, fully paid and nonassessable share of common stock of the Surviving Corporation.

  • Purchase of Shares of Common Stock Each Purchase Contract shall, unless an Early Settlement has occurred in accordance with Section 5.9 hereof, obligate the Holder of the related Security to purchase, and the Company to sell, on the Purchase Contract Settlement Date at a price equal to the Stated Amount (the "Purchase Price"), a number of newly issued shares of Common Stock equal to the Settlement Rate unless, on or prior to the Purchase Contract Settlement Date, there shall have occurred a Termination Event with respect to the Security of which such Purchase Contract is a part. The "

  • Adjustment for Common Stock Issue If the Company issues shares of --------------------------------- Common Stock for a consideration per share less than the current market price per share on the date the Company fixes the offering price of such additional shares, the Warrant Price shall be adjusted in accordance with the formula: P - W' = W x O + M ------ A Where: W' = the adjusted Warrant Price W = the then current Warrant Price O = the number of shares outstanding immediately prior to the issuance of such additional shares P = the aggregate consideration received for the issuance of such additional shares M = the current market price per share on the date of issuance of such additional shares A = the number of shares outstanding immediately after the issuance of such additional shares The adjustment shall be made successively whenever any such issuance is made, and shall become effective after such issuance. This subsection (d) does not apply to:

  • Shares of Common Stock The Company shall have duly reserved the number of Debenture Shares required by this Agreement and the Transaction Documents to be reserved upon the conversion of the Debentures acquired by the Purchaser on the First Closing Date;

  • Common Stock 1 Company........................................................................1

  • Price of Common Stock The Company has not taken, and will not take, directly or indirectly, any action designed to cause or result in, or that has constituted or that might reasonably be expected to constitute, the stabilization or manipulation of the price of the shares of the Common Stock to facilitate the sale or resale of the Shares.

  • Reservation of Shares of Common Stock The Company shall at all times reserve and keep available a number of its authorized but unissued shares of Common Stock that shall be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement.

  • Issuance of Shares of Common Stock As soon as practicable after the exercise of any Warrant and the clearance of the funds in payment of the Warrant Price (if any), the Company shall issue to the registered holder of such Warrant a certificate or certificates, or book entry position, for the number of shares of Common Stock to which he, she or it is entitled, registered in such name or names as may be directed by him, her or it, and if such Warrant shall not have been exercised in full, a new countersigned Warrant, or book entry position, for the number of shares as to which such Warrant shall not have been exercised. Notwithstanding the foregoing, in no event will the Company be required to net cash settle the Warrant exercise. No Warrant shall be exercisable for cash and the Company shall not be obligated to issue shares of Common Stock upon exercise of a Warrant unless the Common Stock issuable upon such Warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the Warrants. In the event that the condition in the immediately preceding sentence is not satisfied with respect to a Warrant, the holder of such Warrant shall not be entitled to exercise such Warrant for cash and such Warrant may have no value and expire worthless, in which case the purchaser of a Unit containing such Public Warrants shall have paid the full purchase price for the Unit solely for the shares of Common Stock underlying such Unit. Warrants may not be exercised by, or securities issued to, any registered holder in any state in which such exercise would be unlawful.

  • Sale of Common Stock Subject to the terms and conditions of this Agreement, Company hereby agrees to sell to Purchaser and Purchaser hereby agrees to purchase from Company an aggregate of 88,351 shares of Company's Common Stock (the "Shares"), at the purchase price of $2.06 per share for an aggregate purchase price of $182,003.06.

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