Common use of Frankfort First Options Clause in Contracts

Frankfort First Options. Frankfort First shall use its best efforts to cause each holder of an option outstanding under the Frankfort First Stock Option Plan to agree in writing to cancel any of their outstanding options to acquire shares of Frankfort First Common Stock in exchange for the consideration set forth in Section 2.9 herein. In addition, Frankfort First and First Federal agree that in lieu of granting options to Dxxxx Xxxxxx pursuant to Section 9 of the Frankfort First Option Plan, immediately prior to the Closing Frankfort First shall make a payment of $8,782.70 to Mx. Xxxxxx, provided Mx. Xxxxxx signs an agreement in form reasonably satisfactory to First Federal pursuant to which Mx. Xxxxxx agrees that such payment is in satisfaction of any and all amounts owed to Mx. Xxxxxx under the Frankfort First Option Plan.

Frankfort First Options. Frankfort First shall use its best efforts to cause each holder of an option outstanding under the Frankfort First Stock Option Plan to agree in writing to cancel any of their outstanding options to acquire shares of Frankfort First Common Stock in exchange for the consideration set forth in Section 2.9 herein. In addition, Frankfort First and First Federal agree that in lieu of granting options to Dxxxx Xxxxx Xxxxxx pursuant to Section 9 of the Frankfort First Option Plan, immediately prior to the Closing Frankfort First shall make a payment of $8,782.70 to MxXx. Xxxxxx, provided MxXx. Xxxxxx signs an agreement in form reasonably satisfactory to First Federal pursuant to which MxXx. Xxxxxx agrees that such payment is in satisfaction of any and all amounts owed to MxXx. Xxxxxx under the Frankfort First Option Plan.

Frankfort First Options. Frankfort First shall use its best ------------------------- efforts to cause each holder of an option outstanding under the Frankfort First Stock Option Plan to agree in writing to cancel any of their outstanding options to acquire shares of Frankfort First Common Stock in exchange for the consideration set forth in Section 2.9 herein. In addition, Frankfort First and First Federal agree that in lieu of granting options to Dxxxx Xxxxxx pursuant to Section 9 of the Frankfort First Option Plan, immediately prior to the Closing Frankfort First shall make a payment of $8,782.70 to Mx. Xxxxxx, provided Mx. Xxxxxx signs an agreement in form reasonably satisfactory to First Federal pursuant to which Mx. Xxxxxx agrees that such payment is in satisfaction of any and all amounts owed to Mx. Xxxxxx under the Frankfort First Option Plan.

Frankfort First Options. Frankfort First shall use its best efforts to cause each holder of an option outstanding under the Frankfort First Stock Option Plan to agree in writing to cancel any of their outstanding options to acquire shares of Frankfort First Common Stock in Table of Contents exchange for the consideration set forth in Section 2.9 herein. In addition, Frankfort First and First Federal agree that in lieu of granting options to Dxxxx Xxxxx Xxxxxx pursuant to Section 9 of the Frankfort First Option Plan, immediately prior to the Closing Frankfort First shall make a payment of $8,782.70 to MxXx. Xxxxxx, provided MxXx. Xxxxxx signs an agreement in form reasonably satisfactory to First Federal pursuant to which MxXx. Xxxxxx agrees that such payment is in satisfaction of any and all amounts owed to MxXx. Xxxxxx under the Frankfort First Option Plan.