DIRECTOR'S ACCEPTANCE Sample Clauses

DIRECTOR'S ACCEPTANCE. I, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, hereby accept the foregoing Award and agree to the terms and conditions thereof.

DIRECTOR'S ACCEPTANCE. The Directors have agreed to sell all the Common Shares held by them to Transition pursuant to the terms and conditions of the Share Purchase Agreement for the same consideration as described below. THE OFFER Subject to the terms and conditions set forth in the accompanying Letter of Acceptance and Transmittal, the Share Purchase Agreement, and as set forth below, Transition Therapeutics Inc. ("TRANSITION") hereby offers to purchase all of the outstanding Common Shares for: (i) an up front payment (the "UP FRONT PAYMENT") equivalent to $- per Common Share in the form of - of a common share of Transition ("TRANSITION SHARES") for each Common Share, (ii) a proportionate interest in the Royalty (as that term is defined in Section 2.1 of the form of Royalty Agreement attached hereto as Exhibit "A" to this Offer) with such individual proportionate interest being set out in Exhibit "C" and (iii) future Milestone payments (payable in the form of additional Transition Shares issued at the then Transition Market Price) as set out below:

DIRECTOR'S ACCEPTANCE. The undersigned hereby accepts the foregoing Agreement and agrees to the terms and conditions thereof. The undersigned hereby acknowledges receipt of a copy of the Company's 1998 Stock Option Plan.