Option Cancellation Agreement. Each of the holders of Lamcor Options shall have executed, subject to delivery to Buyer at the Closing, an Option Cancellation Agreement in substantially the form of Exhibit 8 hereto (collectively, the "Option Cancellation Agreements").
Option Cancellation Agreement. DPRC shall have received an ----------------------------- executed Option Cancellation Agreement from each Performance Optionholder.
Option Cancellation Agreement. The Company and the Option Holders shall have executed and delivered the Option Cancellation Agreement (Exhibit C) and the Company shall have made the First Option Payment.
Option Cancellation Agreement. The Parent shall have received a copy of an Option Cancellation Agreement, duly executed by each holder of Company Options.
Option Cancellation Agreement. Prior to the Closing, the Company shall have used its commercially reasonable best efforts to seek execution by the Company Optionholders requested by Acquirer of an option cancellation agreement in substantially the form approved by Acquirer and attached hereto as Exhibit E (each, an “Option Cancellation Agreement”).
Option Cancellation Agreement. The undersigned represents and warrants that he/she is the legal and beneficial owner of one or more options to purchase shares of common stock, par value $0.01 per share, of ROYAL FINANCIAL, INC., a Delaware corporation (“RYFL”), which was issued to the undersigned under the [Royal Financial, Inc. 2005 Stock Option Plan] [Royal Financial, Inc. 2018 Equity Incentive Plan], as described on Schedule 1 attached hereto (the “Options”). The Options are evidenced by one or more stock option grant agreements (the “Stock Option Agreements”). The undersigned acknowledges that RYFL has agreed to merge with Finward Bancorp, an Indiana corporation (“FNWD”), and acknowledges and agrees that in connection therewith, the holders of the RYFL Options, as defined in the Agreement and Plan of Merger dated July 28, 2021 between RYFL and FNWD (the “Merger Agreement”), are required to convert their stock options into cash pursuant to Section 2.03(a) of the Merger Agreement. The undersigned (i) acknowledges and agrees that he/she shall be entitled to receive, in connection with the Merger and payable by RYFL immediately prior to the Effective Time of the Merger, a cash payment equal to the difference between $20.14 and the per share exercise price for each share of RYFL common stock subject to the Options, including any non-vested Options, owned by the undersigned; provided that, there shall be withheld from such cash payment any taxes required to be withheld by applicable law; and (ii) recognizes and agrees that the Stock Option Agreements (and all other agreements or instruments evidencing the ownership of the Options held by the undersigned) shall be cancelled and be of no further force and effect upon the payment noted above. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Merger Agreement.
Option Cancellation Agreement. An option cancellation agreement, substantially in the form set forth in Exhibit E hereto, executed by each Option Holder (each, an “Option Cancellation Agreement”);
Option Cancellation Agreement. “Option Cancellation Agreement” means an Option Cancellation Agreement substantially in the form attached as Exhibit D hereto.
Option Cancellation Agreement. Contemporaneously with the execution of this Agreement, Seller shall cause each person who holds an option to purchase shares of Seller Stock to execute and deliver to Purchaser an Option Cancellation Agreement in the form attached hereto as Annex 5, except that, with respect to any person who is not a director of any of Seller Parties, Seller Parties shall use their best efforts to obtain from such officers executed Option Cancellation agreements within five (5) days of the date of this Agreement. --24-- (i)
Option Cancellation Agreement. The holders of at least seventy percent (70%) of the outstanding Company Options shall have delivered a duly executed Option Cancellation Agreement that remains in full force and effect.
