Share Option Clause Samples

Share Option. 2.01 The Corporation hereby grants to the Optionee, subject to the terms and conditions hereinafter set out, an irrevocable option to purchase at any time or from time to time on or before the Expiration Date, 10,000 common shares of the Corporation at a price of $0.20 per Share. 2.02 At 4:30 p.m., Calgary time, on the Expiration Date, the Share Option shall forthwith expire and terminate and be of no further force or effect whatsoever as to such of the Option Shares in respect of which the Share Option hereby granted has not then been exercised.

Share Option. The Borrower may repay the whole of the Loan under Clause 4.1 or make a prepayment of the whole of the Loan (but not part only) under Clause 4.2 by issuing all of the Shares in the name of the Lender, and the Loan shall be deemed to have been repaid in full upon such issue of all of the Shares.”

Share Option. The Company agrees to grant Director an option to purchase shares of Common Stock of the Company under the 2003 Omnibus Plan (the 'Plan) at the fair market value of $ 0.49 per share, which is equal to the closing price of the Company's common stock on January 18, 2013, with the total amount of shares granted equal to 50,000 shares of option for 3 years services as a director with the Company. The option shall vest on a quarterly basis (4,166 shares of option to vest on the first 11 quarter anniversaries of the grant and 4,174 shares of option to vest on the 12th quarter anniversary of the grant with the initial 4,166 shares of option vesting to commence on April 16, 2013), and all vesting conditional upon continued service as a Director of the Company as of each such anniversary. Further, the option allows for cashless exercise.

Share Option. At the Closing, the Parties shall enter into an Option Agreement pursuant to which the Issuer grants to the Note Purchaser the option to subscribe for not less than 1,333,333 Shares, at a price of US$6.00 per Share, subject to anti-dilution adjustments as provided therein.

Share Option. 3.1 For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Top Tone Holdings shall, subject to the provisions of this Clause 3, have the irrevocable and unconditional right to acquire up to 4% of the issued share capital of CME Bulgaria (the "Share Option"). 3.2 The Share Option shall be exercisable at any time from the Execution Date to the third anniversary of the Closing. 3.3 The price to be paid for the CME Bulgaria shares subject to the Share Option shall be (i) US$2,950,000 for each 1% interest acquired, up to an aggregate of US$11,800,000, if the Share Option is exercised on or before the first anniversary of the Closing or (ii) the Relevant Percentage of the Valuation if the Share Option is exercised at any time immediately following the first anniversary of the Closing to the third anniversary of the Closing (the "Share Option Price"). 3.4 The right of Top Tone Holdings to exercise the Share Option is conditional upon the following: (a) neither Top Tone Holdings nor any of its Affiliates being in material breach of any of the Transaction Documents; (b) Top Tone Holdings having full unencumbered right and title to its entire Ownership Interest in CME Bulgaria at the date of consummation of the Share Option pursuant to Clause 3.7; and (c) no Event of Default having occurred and be continuing. 3.5 Top Tone Holdings may only exercise the Share Option once and by giving a written exercise notice (a "Share Option Notice") to CME ME and CME Bulgaria. Once given, a Share Option Notice shall be irrevocable. 3.6 If CME ME receives a Share Option Notice, CME ME may give written notice (a "Share Option Objection Notice") to Top Tone Holdings within ten (10) Business Days of the receipt of such Share Option Notice of any objections to the exercise of the Share Option. If such Share Option Objection Notice contains valid grounds for objection, the Share Option shall not be exercisable. If the grounds for objection specified in the Share Option Objection Notice are capable of remedy, Top Tone Holdings may remedy any such grounds for objection. If, following such a remedy, Top Tone Holdings wishes to exercise the Share Option, it shall recommence the process outlined in this Clause 3. 3.7 The consummation of the Share Option shall take place at such time and place as may be specified in the Share Option Notice in accordance with the foregoing but not less than ten (10) Business Days after the receipt of the Share Option...

Share Option. (a) The Corporation hereby grants to the Optionee an irrevocable option (the “Option”) to purchase, on the terms hereinafter provided, all or any part of 100,000 common shares (such shares being hereinafter referred to as the “Optioned Shares”) in the capital of the Corporation at a price of $7.20 (Canadian) per share, being the closing price of a common share sold as part of a board lot of such shares on The Toronto Stock Exchange (the “Exchange”) on November 7, 1997. (b) The Option may be exercised (subject as hereinafter provided) during the ten year period ending on November 7, 2007 or the immediately preceding business day if November 7, 2007 is not business day (such date being hereinafter referred to as the “Expiration Date”). At the close of business in Toronto on the Expiration Date the Option shall expire and be of no further force whatsoever as to such of the Optioned Shares in respect of which the Option has not been fully exercised. (c) Subject to the terms of this Agreement, any Option may, until the Expiration Date, be exercised without limitation in respect of all or any portion of the shares to which it relates to the extent previously unexercised.

Share Option. SCHEME ------------------- 10.1 Each of the Parties agrees that following Completion a share option scheme equivalent on conversion to 15% of the authorised share capital of the Company shall be established by the Company for the benefit of such directors and employees of the Company as shall be agreed by the Directors.

Share Option. 2.1 Subject to the terms and conditions hereinafter set out, the Corporation hereby grants to the Executive, an irrevocable option to purchase • (•) Shares of the Corporation at an exercise price of • Dollars • Cent (CDN $•) per Share, which may be exercised on the following basis: a. (•) Shares at any time or from time to time during the period commencing January 16, 2007 and expiring on the Expiration Date; b. (•) Shares at any time or from time to time during the period commencing January 16, 2008 and expiring on the Expiration Date; c. (•) Shares at any time or from time to time during the period commencing January 16, 2009 and expiring on the Expiration Date; and d. the remaining • (•) Shares at any time or from time to time during the period commencing January 16, 2010 and expiring on the Expiration Date. 2.2 Notwithstanding Clause 2.1 hereof, in the event of: a. any disposition of substantially all of the assets of the Corporation, or the dissolution, merger, amalgamation or consolidation of the Corporation, with or into any other corporation, or the merger, amalgamation or consolidation of any other corporation into the Corporation; or b. any Change in Control of the Corporation; the Executive may exercise of any or all of the remaining Optioned Shares prior to the completion of any such transaction. Upon the Corporation entering into an agreement to effect any of the transactions set forth in Clause 2.2(a) or a change in control being effected as contemplated in Clause 2.2(b), the Option shall be deemed to have been amended to permit the exercise thereof in whole or in part by the Executive at any time or from time to time prior to the completion of such transaction. For the purposes of this Agreement, a “Change in Control” shall be deemed to have occurred if any person, or any two or more persons acting as a group, and all affiliates of such person or persons, who prior to such time beneficially owned less than 20% of the then outstanding Shares, shall acquire such additional Shares in one or more transactions, or series of transactions, such that following such transaction or transactions, such person or group and affiliates beneficially own 20% or more of the Shares outstanding. 2.3 At 4:30 p.m., Calgary time, on the Expiration Date, the Share Option shall forthwith expire and terminate and be of no further force or effect whatsoever as to such of the Option Shares in respect of which the Share Option hereby granted has not then been exercised.

Share Option. You have been issued options to acquire up to 400,000 shares of the Company's common stock. You agree that, absent a change in control of the Company which causes your options to accelerate (a "Change in Control"), for a period of five (5) years from the date of this agreement, you will not, by the exercise of the options granted to you under your option agreement of September 10, 1996, cause IMNET to lose valuable tax deductions due to the applicability of Section 162(m) of the Internal Revenue Code of 1986, as amended. During such five-year period, you also agree that in the event of a Change in Control, you will cooperate with reasonable requests of the acquiring company to avoid the loss of valuable tax deductions due to the applicability of said Section 162(m) to your exercise of options. This latter obligation to cooperate does not require you to absorb unreasonable financial risk or to take other actions disadvantageous to you. If you are required to pay an excise tax pursuant to Section 4999 of the Internal Revenue Code of 1986, as amended, with respect to compensation, if any, provided by the Company under your option agreement of September 10, 1996 for 400,000 shares, then the Company will pay you an amount equal to such excise tax which payment may in the discretion of the Board of Directors of the Company (or its successor) be made in shares of the Company's Stock (or its successor) or cash. To the extent you are paid in such shares, they shall be valued as of the date of the consummation of the transaction which led to the imposition of the excise tax (the "Valuation Date"). Furthermore, the Company's obligation to make payments pursuant to this provision shall not exceed an amount equal to the value of 50,000 shares of the Company's outstanding Common Stock (as adjusted for stock splits, stock dividends, recapitalizations, and similar transactions) at the Valuation Date.