Option Obligations. 5.1. As of the Effective Date it is the responsibility and obligation of the Optionees to pay all mining claim maintenance, rental fees, property and other taxes, and other payments that would be otherwise due to the appropriate government agency or agencies including without limitation the United States Bureau of Land Management and Nye County, Nevada in order to keep the Property in good standing, including the payment of the Cordex Royalty (collectively, the “Obligations”).
Option Obligations. If, after the Closing Date, a Transferred Employee exercises a stock option to purchase S3 common stock, then, within 5 business days of such exercise, JV shall pay S3 the difference between the exercise price of such stock option held by the Transferred Employee and a price per share equal to the lowest closing price for S3 common stock on the Nasdaq National Market during the 5 business days preceding the date of this Agreement.
Option Obligations
