Grant of Option Rights. Subject to the terms and conditions contained herein, the Company hereby grants to the Option Holder the option rights specified herein:
1.1 The number and class of shares of the Company's currently authorized but unissued stock subject to the option rights granted hereunder are an aggregate of 500,000 shares of the Company's common stock.
1.2 The option exercise price is $.01 per share.
1.3 The Option Holder has option rights hereunder to purchase a total of 500,000 shares of the Company's common stock which shall become exercisable during the time periods as set forth in this Section 1.3. On and after February 15, 1995, this option may be exercised by the Optionee for the purchase of one-quarter of the shares covered by this option (125,000 shares), or any portion thereof. On or after the last day of each full month following February 15, 1995, this option may be exercised by the Optionee for the purchase of an additional one eighteenth (1/18) of the shares covered by this option (27,778 shares), or any portion thereof. Once a portion of this option becomes exercisable it shall remain exercisable until the Expiration Date, or until it terminates pursuant to the terms of Section 4 hereof, whichever is first to occur.
(d) Notwithstanding the provisions of subparagraph 1(c) above, (i) the minimum number of shares which may be Notwithstanding the foregoing, the Board of Directors of the Company in its sole discretion may, upon written notice to the Option Holder, accelerate the earliest date on which any of the option rights granted hereunder are exercisable. The granting of option rights hereunder shall impose no obligation on the Company to continue to engage the services of the Option Holder, and shall not lessen or affect the right of the Company to terminate such engagement or to change the duties, compensation, or other terms thereof. The parties agree that either of them may terminate the arrangement under which Option Holder is performing services at any time for any reason or no reason.
Grant of Option Rights. Subject to the terms and conditions of this Agreement, TELETHON-HSR hereby grants to GSK with respect to each Collaboration Program the exclusive option during the Research Term, which shall be exercisable on a Collaboration Program-by-Collaboration Program basis at GSK’s sole discretion, to obtain the exclusive license set forth in Section 4.2(c) (each, an “Option”), subject to the terms and conditions described in Sections 4.2(b)—4.2(d) below. GSK shall be limited to exercising [***] Option per Collaboration Program, and on exercise of an Option and payment of the applicable Option Exercise Fee set out in Section 6.2, GSK shall have exclusive rights to such Collaboration Program consisting of all Vectors and Products under a given Collaboration Program.
Grant of Option Rights. Subject to the terms and conditions of this Agreement, PROSENSA hereby grants to GSK (i) with respect to the Exon 44 Program, and (ii) with respect to the DMD Program 3 will grant to GSK upon payment by GSK of the DMD Program 3 Initiation Payment pursuant to and subject to Section 2.5(a) and 6.2(c) or 6.2(d); and (iii) with respect to DMD Program 4 will grant to GSK upon payment by GSK of the DMD Program 4 Initiation Payment pursuant to and subject to Section 2.5(b) and 6.2(c) or 6.2(d); the exclusive option during the Research Term, which shall be exercisable on a PROSENSA Collaboration Program-by-PROSENSA Collaboration Program basis at GSK’s sole discretion, to obtain the exclusive license set forth in Section 4.2(c) (each, an “Option”), subject to the terms and conditions described in Sections 4.2(b)—4.2(e) below. GSK shall be limited to exercising one Option per PROSENSA Collaboration Program, and on exercise of an Option and payment of the applicable Option Exercise Fee set out in Section 6.2, GSK shall have exclusive rights to such PROSENSA Collaboration Program consisting of all Compounds under a given PROSENSA Collaboration Program, excluding the non-selected project Compounds under such Programs.
Grant of Option Rights. Subject to the Director's continued membership as a Board member, as provided in this Agreement, the Company hereby grants to the Director the option rights specified below (the "Option Rights"):
1.1 The number of shares of the Company's stock that are subject to the Option Rights is 10,000 shares of the Company's common stock (the "Shares").
1.2 The option exercise price, which is not less than the fair market value of the Shares as of the date hereof, and in the case of an Director who owns 10% or more of the Company's stock, not less than 110% of the fair market value of the Shares as of the date of this Agreement, is $8.69
Grant of Option Rights. The Corporation grants to ICI an option (the "Option Rights") to purchase 250,000 shares of the common stock of the Corporation (the "Option Shares") under and subject to the terms and conditions of this Agreement.
Grant of Option Rights. Subject to the Employee's continued employment, as provided in this Agreement, the Company hereby grants to the Employee the option rights specified below (the "Option Rights"):
1.1 The number of shares of the Company's stock that are subject to the Option Rights is 6,000 shares of the Company's common stock (the "Shares").
1.2 The option exercise price, which is not less than the fair market value of the Shares as of the date hereof, and in the case of an Employee who owns 10% or more of the Company's stock, not less than 110% of the fair market value of the Shares as of the date of this Agreement, is $8.69
Grant of Option Rights. Subject to the terms and conditions contained ---------------------- herein, the Company hereby grants to the Option Holder the option rights specified herein:
(a) The number and class of shares of the Company's currently authorized but unissued stock subject to the option rights granted hereunder are an aggregate of the number of shares of the Company's common stock set forth under the Option Holder's name on the signature page hereto.
(b) The option exercise price is $3.55 per share.
(c) The option rights granted hereunder, or any part thereof, may be exercised at any time or times from the date hereof to and including July 15, 1998.
(d) Notwithstanding the provisions of subparagraph 1(c) above, the minimum number of shares which may be purchased upon any partial exercise of the option rights granted hereunder is 100 shares.
Grant of Option Rights. Subject to the Employee's continued employment, as provided in this Agreement, the Company hereby grants to the Employee the option rights specified below (the "Option Rights"):
1.1 The employee has the right to earn one million shares of the Company's stock that are subject to the employee obtaining his revenue goals over the next sixty months (the "Shares"). The employee will be entitled to 200,000 shares per year for the next five years. The price that the employee will pay for each share of stock when it exercises the option is as follows: Year 1: Employee will pay $0.27 per share for entitled options expiring March 15, 2003 Year 2: Employee will pay $1.00 per share for entitled options expiring March 15, 2004 Year 3: Employee will pay $1.50 per share for entitled options expiring March 15, 2005 Year 4: Employee will pay $2.00 per share for entitled options expiring March 15, 2006 Year 5: Employee will pay $2.50 per share for entitled options expiring March 15, 2007
1.2 The option exercise price, which is not less than the fair market value of the Shares as of the date hereof, and in the case of an Employee who owns 10% or more of the Company's stock, not less than 110% of the fair market value of the Shares.
1.3 The Option Rights may be exercised during the time periods, and as to the number of Shares with respect to when the Option is exercisable during each such time period, as follows:
Grant of Option Rights. Subject to the Employee's continued employment, as provided in this Agreement, the Company hereby grants to the Employee the option rights specified below (the "Option Rights"):
1.1 The number of shares of the Company's stock that are subject to the Option Rights is shares of the Company's common stock (the Shares).
1.2 The option exercise price, which is not less than the fair market value of the Shares as of the date hereof, and in the case of an Employee who owns 10% or more of the Company's stock, not less than 110% of the fair market value of the Shares as of the date of this Agreement, is $ per Share.
1.3 The Option Rights may be exercised during the time periods, and as to the number of Shares with respect to when the Option is exercisable during each such time period, as follows:
Grant of Option Rights
