Gxxxx xx Option. Corporation hereby grants to Participant the right to purchase eight thousand five hundred (8,500) shares of Stock (the "Option Shares") at a price of ($12.88) per Option Share (the "Option Price"), in accordance with the terms of this Agreement and the Plan (the "Option"). The Committee, exercising good faith, has determined that the Option Price is equal to at least one hundred percent (100%) of the fair market value of a share of Stock on the date hereof. The Option is not intended by the parties hereto to be, and shall not be treated as, an incentive stock option (as such term is defined under section 422 of the Internal Revenue Code of 1986 (the "Code")).
Gxxxx xx Option. Lessor hereby grants to Lessee one option(s) (the "Option(s)") to extend the term of the Lease, each for an additional term five (5) years, commencing on May 1, 2000, upon the terms and conditions set forth in this Paragraph 15.
Gxxxx xx Option. 1 Section 1.1.
Gxxxx xx Option. The Plan Administrator of the Company hereby grants to the Optionee named in the Notice of Grant attached as Part I of this Agreement (the "Optionee") an option (the "Option") to purchase the number of Shares, as set forth in the Notice of Grant, at the exercise price per share set forth in the Notice of Grant (the "Exercise Price"), subject to the terms and conditions of the Plan, which is incorporated herein by reference. Subject to Section 15(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and conditions of the Plan shall prevail. If designated in the Notice of Grant as an Incentive Stock Option ("ISO"), this Option is intended to qualify as an Incentive Stock Option under Section 422 of the Code. However, if this Option is intended to be an Incentive Stock Option, to the extent that it exceeds the $100,000 rule of Code Section 422(d) it shall be treated as a Nonstatutory Stock Option ("NSO").
Gxxxx xx Option. Subject to Shareholder's obligation to tender the Shares in accordance with Section 7 hereof, Shareholder hereby irrevocably grants to May or its designee an option (the "Option") to purchase in cash all of the Shares at the purchase price per share as set forth in the Merger Agreement (the "Exercise Price") (subject to adjustment pursuant to Paragraph 9 above) for each of the Shares purchased.
Gxxxx xx Option. The Grantor hereby irrevocably grants to the Operating Partnership the right and option (the "OPTION") to acquire all the Grantor's right, title and interest in the Grantor's Property Interests on the terms and conditions set forth herein.
Gxxxx xx Option. Subject to the terms and conditions set forth herein, Issuer hereby grants to Grantee an irrevocable option to purchase up to a number of shares of Issuer Common Stock, together with any shares theretofore issued pursuant to the Option, equal to 10.1% of the sum of (i) the number of shares of Issuer Common Stock issued and outstanding as of the Closing Date (as defined below) and (ii) the number of shares of Issuer Common Stock issuable as of the Closing Date pursuant to any options, warrants, calls, subscriptions, convertible securities or other rights, agreements or commitments which obligate the Issuer to issue such shares (the "Option Shares"), at the Exercise Price.
Gxxxx xx Option. Effective as of August 24, 1999 (the "Grant Date"), the Company hereby grants to Consultant an option ("Option") to acquire 986,250 shares of its common stock at an exercise price of $2.63 per share. The Option shall vest as of the Grant Date with respect to 493,125 shares. With respect to the remainder of the Option, the Option shall vest in two (2) successive annual installments of 246,562 and 246,563 shares, respectively, with the first installment vesting one (1) year from the Grant Date. Notwithstanding the foregoing, if Consultant's consultancy is terminated by the Company for Cause (as defined below), the Option shall immediately terminate with respect to all unvested shares of Common Stock subject to the Option, all as more particularly described in the Grant (as defined below). The Option or any portion thereof shall expire if not exercised within five (5) years from the date hereof. The Option shall be governed by and shall be subject to the provisions of the Company's 1999 Stock Option Plan (the "Plan"). As Consultant is not a full time employee of the Company, the Option will not be qualified under the Internal Revenue Code. The Company shall prepare and deliver to Consultant a separate grant of the Option (the "Grant") in accordance with the Plan in the form attached hereto as Exhibit "
A. For purposes hereof, "Cause" shall mean (i) Consultant's material breach of any of the terms, covenants, representations, or warranties contained in this Agreement; (ii) the Consultant being guilty of willful misconduct on the Company's premises or elsewhere, whether during the performance of his duties or not, which materially and negatively affects the business or reputation of the Company; (iii) Consultant's being found guilty or entering a plea of guilty or nolo contendre in a criminal court of a felony; or (iv) Consultant's willful breach of duty or habitual neglect of duty, or refusal to comply with any reasonable or proper direction given by or on behalf of the Board of Directors.
Gxxxx xx Option. Subject to the conditions specified in the Plan, the Company hereby grants to Director the right and option (hereinafter referred to as the "Option") to purchase an aggregate of Thirty Thousand (30,000) shares of Stock.
