Option to Purchase Shares. The Company hereby grants to the Optionee an Option (the “Option”), pursuant to the Plan, to purchase up to ________________ (___________) shares of the Company’s common stock (the “Stock”). The Option Price for each share of Stock shall be ____________________Dollars and ______________ Cents ($______), which is acknowledged to be 100% of the Fair Market Value of each share of Stock as of the date hereof. The Option shall be exercisable for the number of shares of Stock and during the specific exercise periods (“Exercise Period(s)”) set forth in the following table: Number of Shares Exercise Period _______________________ (___________) Shares ________________1 through ______________
Option to Purchase Shares. Purchaser shall have the option to ------------------------- purchase from Seller an additional 65,000 shares of Ridgewood common stock owned by Seller, which option shall be exercised by written notice from Purchaser to Seller no later than fifteen months after the Closing Date hereof. Any purchase by Purchaser pursuant to the option granted herein shall be on the terms and conditions set forth in this Agreement and at the price set forth in Section 1.1 ----------- hereof, payable in the form of a promissory note substantially in the form of Exhibit A hereto and payable three years following the Closing Date. In the --------- event Seller desires to sell or otherwise transfer any of the shares of Ridgewood common stock covered by Purchaser's option herein, Purchaser shall have a right of first refusal to purchase up to 65,000 of such shares, at the price set forth in Section 1.1 herein, exercisable within twenty business days ----------- of receipt of written notice of Seller's offer to sell or proposal to transfer. In the event Purchaser elects not to exercise its rights of first refusal hereunder and the sale or transfer initially proposed by Seller is not consummated on the terms specified in the notice to Purchaser, Purchaser's rights of first refusal hereunder shall be reinstated without change. Seller shall not otherwise encumber or create any Lien (as defined below) on the shares subject to Purchaser's option herein and in no event shall Seller be permitted to engage in a sale or other transfer in which he retains any interest, legal or equitable, in the shares being sold or transferred during the fifteen month period covered by Purchaser's right of first refusal in this Section 1.5. -----------
Option to Purchase Shares. Swifty hereby grants to Consultant the option to purchase from Swifty an additional one million (1,000,000) shares of Swifty's common stock at a price of fifty cents ($.50) per share. Consultant acknowledges that such shares, when issued, shall be restricted shares as defined above. The option provided for herein may be exercised at any time up to the third anniversary of the execution of this Agreement. This option may be exercised on one or more occasions for all or any portion of the said one million (1,000,000) shares. The options shares shall have the same "piggy back rights" as provided for the shares to be issued pursuant to paragraph 3 of this Agreement.
Option to Purchase Shares. Stockholder hereby grants to Buyer (i) an option to purchase that portion of the Shares equal to 34.99% of the issued and outstanding shares of the Lady Luck Common Stock and (ii) effective upon a breach by Stockholder of the provisions of Section 1, an option to purchase the remainder of the Shares, except for Shares subject to the Uboldi Agreement (each, xx "Xxtion" and collectively, the "Options"), at a price of $12.00 per Share (or such higher price as Buyer may determine), until the termination of this Agreement in accordance with Section 7 hereof. Buyer agrees that if either of the Options are exercised (which exercise shall be evidenced by payment for the Shares) and Buyer disposes of the Shares within six months after the date of the exercise of such Option, Buyer will pay to Stockholder one-half of the net profit (after reduction for Buyer's expenses incurred for brokerage commissions (net of any reimbursements) in connection with the exercise of such Option and disposition of such Shares) to Buyer from such disposition (the "Profit Amount"), provided that the Profit Amount is not subject to disgorgement under Section 16 of the Securities Exchange Act of 1934, as amended. Solely for income tax purposes, Buyer and Stockholder shall treat any portion of the Profit Amount paid to Stockholder as additional consideration paid by Buyer to Stockholder for purchase of the Shares. Subject to any required approval under the Lady Luck Gaming Laws, either Option may be exercised by Buyer at any time upon two (2) business days' prior written notice to Stockholder, against payment of the purchase price for the Shares that are subject to such Option. Stockholder agrees to cooperate with Buyer at Buyer's expense and use all commercially reasonable efforts to assist Buyer in obtaining any approvals required under the Lady Luck Gaming Laws.
Option to Purchase Shares. The Company hereby grants to the Optionee an Option (the “Option”), pursuant to the Plan, to purchase up to _______________ (____________) shares of the Company’s Common Stock (the “Stock”). The Option Price for each share of Stock shall be ______________________ ($_______), which is acknowledged to be 100% of the Fair Market Value (defined in the Plan) of each share of Stock as of ________________________, the date of grant (or at least 110% of such Fair Market Value if the Optionee owns, or is deemed to own pursuant to Section 424(d) of the Code, more than 10% of the total combined voting power of all classes of stock of the Company). The Option shall be exercisable for the number of shares of Stock and during the specific exercise periods (“Exercise Period(s)”) set forth in the following table: Number of Shares Exercise Period ______________________ (_________) Shares ___________________1 through __________________ ______________________ (_________) Shares ___________________________1 through __________________ ______________________ (_________) Shares ___________________1 through __________________
Option to Purchase Shares. In the event Xxxxxx proposes to ------------------------- Transfer all or any part of its Shares or any interest therein ("Offered Shares"), the following provisions shall apply:
Option to Purchase Shares. Each shareholder entitled to purchase shall have a period of ninety (90) days from the time of such offer to accept all or part of such offer. The acceptance shall be in writing.
Option to Purchase Shares. Each Stockholder hereby severally grants to the Investor an option to purchase (the "OPTION"), in the Investor's sole discretion, all Subject Shares set forth opposite such Stockholder's name on SCHEDULE A hereto, at a price per Share equal to the Cash Merger Price or, in respect of a share of Series D Stock, an amount in cash equal to the Cash Merger Price for each Share that would have been received had such share of Series D Stock been converted into Shares immediately prior to such purchase (the "EXERCISE PRICE"). The Option shall be exercisable by the Investor, as to all Stockholders, at any time prior to the termination of this Agreement, by delivery of a notice of exercise to all Stockholders at the address of each Stockholder set forth in SCHEDULE A. The Subject Shares shall be delivered (with any appropriate executed stock power) by each Stockholder to Irell & Xxxxxxx (the "ESCROW AGENT"), which shall hold the Subject Shares in escrow pending receipt by the Stockholder of the purchase price payable therefor; upon such receipt the Subject Shares shall be delivered by the Escrow Agent to Investor. Within ten business days after delivery of such notice, the Investor shall pay to each Stockholder a cash amount equal to the aggregate Exercise Price payable in respect of such Stockholder's Subject Shares against delivery of certificates representing such Subject Shares.
Option to Purchase Shares. The Company hereby grants to Optionee an Option (the "Option") to purchase up to the number of shares of the Company's Common Stock (the "Stock") listed below at the Exercise Price listed below, pursuant and subject to the terms and provisions of the Plan, which are incorporated by reference herein. The Exercise Price for each share of Stock is 100% of the Market Value (as defined in the Plan) of each share of Stock as of the Date of Grant. The Option will be exercisable according to Section 2 below. The Option is not an "incentive stock option" within the meaning of Section 422 of the U.S. Internal Revenue Code of 1986, as amended, nor is the Option qualified under the laws of any non U.S. country for preferential tax treatment or any other reason. Number of Shares __________
Option to Purchase Shares. The undersigned (each a “Seller”, and jointly, the “Sellers”), each being a holder of (or, with respect to the Inherited Shares (as defined below), having a right to own) such amount of shares of common stock, par value $0.0001 per share (each, a Share), of Defense Industries International Inc. (the “Company”) as set forth opposite his or her name in the column titled “Option Shares” in Exhibit A hereto, hereby grant you an option to purchase all (and in no event less than all, other than as set forth in the second sentence of Section 2) of the Shares owned by the Sellers together with any other right they have or may have in the Company and any affiliate thereof (collectively, the “Option Shares”), on the terms and subject to the conditions set forth in this letter (the “Option”).
