Common use of Grant of Option; Consideration Clause in Contracts

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. 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. 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 (which is not 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.