Common use of Grant of Top-Up Stock Option Clause in Contracts

Grant of Top-Up Stock Option. Subject to the terms and conditions set forth herein, the Company hereby grants to Purchaser an irrevocable option (the “Top-Up Stock Option”) to purchase that number of authorized but unissued Shares (the “Top-Up Option Shares”) equal to the number of Shares that, when added to the number of Shares owned by Purchaser and Parent immediately following consummation of the Offer, shall constitute 80.01% of the Fully Diluted Shares (assuming the issuance of the Top-Up Option Shares) at a purchase price per Top-Up Option Share equal to the Offer Price; provided, however, that in no event shall Purchaser have the right hereunder to purchase a number of Shares that exceeds 19.9% of the outstanding Shares on the date hereof. The Company agrees to provide Parent and Purchaser with information regarding the number of authorized Shares available for issuance on an ongoing basis.

Grant of Top-Up Stock Option. Subject to the terms and ---------------------------- conditions set forth herein, the Company hereby grants to Purchaser an irrevocable option (the “"Top-Up Stock Option”") to purchase that number of authorized but unissued Shares (the “"Top-Up Option Shares”") equal to the number of Shares that, when added to the number of Shares owned by Purchaser and Parent immediately following consummation of the Offer, shall constitute 80.0190.01% of the Fully Diluted Shares then outstanding (assuming the issuance of the Top-Up Option Shares) at a purchase price per Top-Up Option Share equal to the Offer Price; provided, however, that in no event shall Purchaser have the right hereunder to purchase a number of Shares that exceeds 19.9% of the outstanding Shares on the date hereof. The Company agrees to provide Parent and Purchaser with information regarding the number of authorized Shares available for issuance on an ongoing basis.