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. If this Agreement is still in effect as of ------------------------- the date of Xxxxxxx'x death, then Xxxxxxx shall have an option which may be exercised at any time within six (6) months of the date of Xxxxxxx'x death to purchase all or any portion of Xxxxxxx'x Shares of Stock. The administrator or executor of Xxxxxxx'x estate or any trustee of any trust owning any of Xxxxxxx'x Shares of Stock as of the date of Xxxxxxx'x death shall hold such shares subject to such option rights. Xxxxxxx may exercise the option at any time and from time to time during such six (6) month period; provided, however, that if Xxxxxxx exercises such option as to less than all shares of Xxxxxxx'x Shares of Stock, then he must exercise on a prorata basis among all heirs and beneficiaries who have received shares constituting Xxxxxxx'x Shares of Stock as a result of Xxxxxxx'x death if same have been distributed prior to the date of the exercise of such option. If Xxxxxxx desires to exercise the option granted hereunder, he shall give written notice of same to the individuals or entities who then own Xxxxxxx'x Shares of Stock with such notice to indicate the total number of shares to be purchased by Xxxxxxx and the attendant number of shares to be purchased from each individual or entity who then owns shares constituting Xxxxxxx'x Shares of Stock. The closing on the purchase of such shares shall take place within thirty (30) days of the date of such notice. The purchase price for such shares shall be determined in the same manner as set forth in Section 4 above and the method of payment shall be the same as set forth in Section 4 with respect to the right of first refusal granted to Xxxxxxx during Xxxxxxx'x lifetime. At closing of such purchase, the selling individuals or entities shall deliver the certificate or certificates representing the shares being purchased by Xxxxxxx with such certificate or certificates being properly endorsed or accompanied by properly executed stock powers. Such shares shall be delivered free and clear of any liens or encumbrances. As to any shares constituting Xxxxxxx'x Shares of Stock which are not purchased by Xxxxxxx pursuant to the option specified hereinabove, such shares shall pass to the heirs and beneficiaries of Xxxxxxx free and clear of any of the terms of this Agreement.
Option to Purchase Shares. Upon the (i) death of the Shareholder, or (ii) declaration of bankruptcy, assignment for the benefit of creditors or similar event regarding the insolvency of a Shareholder, whether voluntary or involuntary, which is not dismissed within sixty (60) days of said declaration, then the following shall apply: the Founder shall have the option to elect to purchase all or any portion of the Shares of the Shareholder referred to in (i) and (ii) above.
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. 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. 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. 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 & Manexxx (xxe "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 __________
