Grant of Option; Consideration. (a) Optionor hereby grants to BCC an option (the "OPTION") to purchase all of Optionor's right, title and interest in and to the Equity Interests on the terms and conditions provided herein. The Purchase Price for the Equity Interests shall be paid to Optionor on the Closing Date in immediately available funds. The Option shall be exercisable by providing written notice to Optionor on or before the ninth anniversary after the date of this Agreement (the "OPTION TERM").
Grant of Option; Consideration. The Company hereby confirms the grant, under and pursuant to the Company's 1993 Employees' Stock Incentive Plan (the "Plan"), to the Employee on [grantdate] of a nonqualified stock option to purchase up to *[shares]* shares of the Company's common stock, par value $.10 per share (the "Shares"), at an exercise price of [optionprice] per share (the "Option"). The Option granted hereunder is not intended to constitute an incentive stock option within the meaning of Section 422 of the Code. The Employee shall be required to pay no consideration for the grant of the Option except for his agreement to provide services to the Company prior to exercise and other agreements set forth herein.
Grant of Option; Consideration. Subject to the terms and conditions herein, the Company hereby grants to the Optionee the right and option to purchase (the "OPTION") from the Company the Number of Shares Optioned (the "OPTION SHARES") at the Exercise Price per share (the "EXERCISE PRICE"). The number of shares of Common Stock purchasable hereunder and the Exercise Price are subject to adjustment upon the occurrence of certain events to the extent and in the manner provided in Section 4(c) of the Plan. In consideration of, and in acceptance of, this Stock Option, the Optionee agrees to continue his employment with or service to the Company for not less than six (6) months from Grant Date.
Grant of Option; Consideration. Subject to the provisions set forth herein and the terms and condition of the Lodgian, Inc. Amended and Restated 2002 Stock Incentive Plan (the "Plan"), the terms of which are hereby incorporated by reference, and in consideration of the agreements of Optionee herein provided, the Company hereby grants to Optionee: (a) an option intended to be an Incentive Stock Option within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the "Code"), and regulations issued thereunder, to purchase from the Company the number of shares of Common Stock set forth above, at the exercise price per share set forth above, and subject to the exercise schedule set forth in Section 3 below. All capitalized but undefined terms used in this Agreement shall have the meanings ascribed to them in the Plan. At the time of exercise of the Option, payment of the exercise price must be made in cash or previously owned shares of Common Stock, which shares have been held for the requisite period necessary to avoid a charge to the Company's earnings for financial reporting purposes, or a combination thereof. Notwithstanding the foregoing, if the committee of the Board of Directors of the Company charged with the administration of the Plan (the "Committee"), in its sole discretion agrees, Optionee may exercise this Option through a "cashless exercise" procedure approved by the Committee involving a broker or dealer approved by the Committee and affording Optionee the opportunity immediately to sell some or all of the shares underlying the exercised portion of the Option in order to generate sufficient cash to pay the Option exercise price and/or to satisfy withholding tax obligations related to the Option.
Grant of Option; Consideration. The Company hereby grants to the Optionee on April 14, 2008, a nonqualified stock option to purchase up to 120,000 shares of the Company’s Common Stock, par value $0.01 per share (the “Shares”), at an exercise price of $12.625 per share (the “Option”). The Option granted hereunder is not intended to constitute an incentive stock option within the meaning of Section 422 of the Code. The terms of the Option are subject to adjustment in certain circumstances, as provided in this Agreement. The Optionee shall be required to pay no consideration for the grant of the Option, except for his agreement to serve as an employee of the Company or any Subsidiary and other agreements set forth herein.
Grant of Option; Consideration. The Company hereby grants, pursuant to Article VI of the Harvest Natural Resources, Inc. 2004 Long Term Incentive Plan (the "Plan"), to the Optionee on September 15, 2005, a nonqualified stock option to purchase up to 165,000 shares of the Company's Common Stock, par value $0.01 per share (the "Shares"), at an exercise price of $10.80 per share (the "Option"). The Option granted hereunder is not intended to constitute an incentive stock option within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the "Code"). The terms of the Option are subject to adjustment in certain circumstances, as provided in the Plan. The Optionee shall be required to pay no consideration for the grant of the Option, except for his agreement to serve as a Non-Employee Director, Employee or Consultant of the Company or any Subsidiary and other agreements set forth herein.
Grant of Option; Consideration. The Company hereby grants, pursuant to Article VI of the Harvest Natural Resources 2006 Long Term Incentive Plan (the “Plan”), to the Optionee on «Grant_Date», of a nonqualified stock option to purchase up to «Option_Amount» shares of the Company’s Common Stock, par value $0.01 per share (the “Shares”), at an exercise price of «Option_Price» per share (the “Option”). The Option granted hereunder is not intended to constitute an incentive stock option within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended. The terms of the Option are subject to adjustment in certain circumstances, as provided in the Plan. The Optionee shall be required to pay no consideration for the grant of the Option, except for his agreement to serve as a Non-Employee Director, Employee or Consultant of the Company or any Subsidiary and other agreements set forth herein.
Grant of Option; Consideration. In consideration of the option payments described in Section 2 hereof, the Grantor hereby grants to the Grantee the option (the “Option”) to enter a lease agreement to use and occupy utility rights of way and corridors within the State rights-of-way in the form attached hereto and entitled “Lease Agreement Between State of Vermont, Agency of Transportation and Champlain VT, LLC d/b/a TDI New England” attached to this Agreement as Exhibit A (the “Lease Agreement”).
Grant of Option; Consideration. The Company hereby confirms the grant, pursuant to Section 5 of the Company's 2001 Stock Option Plan (the "Plan"), to the Employee on September 15, 2005, of a nonqualified stock option to purchase up to 85,000 shares of the Company's Common Stock, par value $0.01 per share (the "Shares"), at an exercise price of $10.80 per share (the "Option"). The Option granted hereunder is not intended to constitute an incentive stock option within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended. The terms of the Option are subject to adjustment in certain circumstances, as provided in the Plan. The Employee shall be required to pay no consideration for the grant of the Option, except for his agreement to serve as an employee of the Company or any subsidiary and other agreements set forth herein.
Grant of Option; Consideration. Subject to the terms and conditions of this Agreement, each of the Shareholders grants to SHCR an irrevocable, unconditional exclusive option (the "Option") to cause all of the then outstanding Shares of the Company (the "Sale Shares") to be acquired through the purchase from each of the Shareholders of the portion of the Sale Shares owned by that Shareholder (i) by a Purchaser or Purchasers to be selected by SHCR in its sole discretion; or, (ii) to the extent permitted by law, by SHCR, in which case the Shareholders shall cause the Company to promptly convert the Company from a professional association to a corporation pursuant to the Texas Business Corporation Act (the "Texas Code"). To the extent permitted by law, the purchase price (the "Purchase Price") for the Sale Shares shall be One Hundred Dollars ($100.00) for all of the Shares of the Company, to be allocated pro rata among the Shareholders depending on the respective number of Sale Shares owned by each of them as of the date of the exercise of the Option. The consideration payable to the Shareholders for their grant of the Option is listed on Schedule 1.1 attached to this Agreement (the "Option Consideration").
