OPTION TO PURCHASE STOCK. Purchaser shall have the option ("Option") to purchase a number of shares equal to the product of (a) the ratio of (i) the number of shares, if any, purchased by the underwriters in the Initial Public Offering in connection with the exercise of any over-allotment option granted by the Company to (ii) the total number of shares sold in the Initial Public Offering (without giving effect to any shares purchased pursuant to any over-allotment option or any shares sold in the Initial Public Offering by the Company directly to Torstar Corporation) and (b) the number of shares of Initial Purchaser Stock, at a per share price equal to the IPO Price (the "Option Stock"). Upon exercise by the underwriters of their over-allotment option or portion thereof, Purchaser may exercise such Option in the same proportion exercised by the underwriters as determined above and in the same period of time as exercised by the underwriters. Upon receipt of notice from the underwriters that such entire over-allotment option or portion thereof shall be exercised, the Company shall immediately give notice to the Purchaser and the Purchaser shall then in the same period of time as the underwriters exercise the Option (or portion thereof as determined by the proportion exercised by the underwriters of their over-allotment option specified above) upon written or telegraphic notice by Purchaser to the Company setting forth the aggregate number of shares of the Option Stock as to which the Purchaser is exercising its Option. Delivery of certificates for the shares of Option Stock, and payment therefor, shall be made on the third business day after the exercise of such option at the offices of Company Counsel. Purchaser shall have no rights to exercise the foregoing Option except upon the last to occur of the (A) closing of the Initial Public Offering; (B) closing of the sale of Stock contemplated under Section 1, above; and (C) exercise of the underwriters' over-allotment option as described above.
OPTION TO PURCHASE STOCK. As of the Commencement Date, the Employee shall be granted a nonqualified stock option to purchase 20,000 shares of the Corporation's common stock, par value $.01, at a price of $6.50 per share. Such option shall vest at a cumulative rate of 33_% per year, on the first and each succeeding anniversary date of the Commencement Date. Except as set forth herein, the terms and conditions applicable to such option shall be those contained in the Corporation's 1996 Incentive Stock Option Plan, as amended, the terms and conditions of which are incorporated herein by this reference.
OPTION TO PURCHASE STOCK. Graphite hereby agrees that in the event it does not proceed with the proposed business combination with BPK, BPK shall have an option (the "Option") to purchase for up to $1,000,000 at anytime prior to December 31, 2008 (subject to earlier termination as specified below) such number of shares of Graphite's common stock as shall equal up to 13.33% of Graphite's then outstanding shares of common stock calculated on a fully diluted basis (including all outstanding options, warrants and other securities convertible or exchangeable into the common stock).
OPTION TO PURCHASE STOCK. Upon the occurrence of any one or more of the Call Events set forth in paragraph 10(a) below, the Company will have the right, but not the obligation, to purchase the shares that Optionee has obtained as a result of the exercise of all or a portion of the same non-qualified option on the same terms and conditions as if such Optionee had made an offer to sell such stock pursuant to paragraph 9 of this Agreement (except that the exercise period shall be extended to allow the Company to purchase the subject shares within thirty (30) days after the applicable event occurs), but at the Purchase Price determined as of the date of the Call Event in accordance with paragraph 10(a), below.
OPTION TO PURCHASE STOCK. Subject to the terms and conditions of this Agreement, the Company hereby grants to Xxxxx, and Xxxxx hereby accepts, non-transferable options (the "Options") to purchase (i) 130,784 shares of Class B Stock (the "First Options") and
OPTION TO PURCHASE STOCK. Until and including June 20, 2004 (the "EXPIRATION DATE"), Optionee shall have the right, but not the obligation, to purchase from Mercer up to fifty thousand (50,000) shares of Common Stock (the "SHARES"). Notwithstanding the foregoing, should Mercer's insider trading policy or Regulation BTR of the Sarbanes-Oxley Xxx xx 0000 xxxxxxxx xxx Optionee from exercising the optxxx xxxxxxx xxder this Agreement for any reason on the Expiration Date, Mercer shall extend the Expiration Date to August 4, 2004.
OPTION TO PURCHASE STOCK. For the period of time between the date of the 2003 annual meeting of shareholders of Mercer (the "ANNUAL MEETING") and 30 days after the date of the Annual Meeting (the "EXPIRATION DATE"), Optionee shall have the right, but not the obligation, to purchase from Greenlight up to two hundred twenty five thousand (225,000) shares of Common Stock (the "SHARES"); provided, however, if Guy W. Adams is not elected to Mercer's Board of Trustees at the Annual Xxxxxxx, Xxxionee's rights undex xxxx Xgreement shall terminate. Notwithstanding the foregoing, if the Expiration Date has not occurred prior to October 15, 2003, this Agreement shall terminate and be of no further effect on October 15, 2003.
OPTION TO PURCHASE STOCK. Upon execution of the Agreement and this Addendum by both parties, the Executive shall be granted an option (the "Option") to purchase 3,000,000 units (the "Option") of the common units of C-Bond Systems, LLC ("CBOND"). For all purposes of this Agreement and Addendum, the Grant Date shall be August 10, 2013. The Executive's right to purchase the Option units pursuant to this provision shall accrue as described in the vesting period provision set forth at Section below (the "Vesting Period"). The Executive may exercise such Option at any time prior to the tenth anniversary of the date of the Agreement. The Executive's exercise of all Option rights shall be effected in accordance with the terms of C-Bond Systems operating agreement. Compensation Plan (the "Plan"). Executive's rights with respect to all units that are the subject of this provision shall be governed by the terms of C-Bond Systems operating agreement.
OPTION TO PURCHASE STOCK. Upon execution of the Agreement and this Addendum by both parties, the Executive shall be granted the option to purchase 15,000 shares (the “Option Stock”) of the common stock of CNA Financial Corporation (the “Option”). The Executive’s exercise of all Option rights shall be effected in accordance with the terms of the CNA Financial Corporation 2000 Incentive Compensation Plan (the “Plan”). For all purposes of this Agreement and Addendum, the Grant Date shall be August 8, 2002. The Executive’s right to purchase the Option Stock pursuant to this provision shall accrue as described in the vesting period provision set forth in Section 2 below (the “Vesting Period”). The Executive may exercise such Option at any time prior to the tenth anniversary of the effective date of the Agreement and this Addendum. The price at which the Option shall be exercisable by the Executive shall be 100% of the Fair Market Value (as that term is defined in the Plan) of the Option Stock on the Grant Date, determined by the Company and agreed by Executive to be Twenty-five dollars and fifty-five cents ($25.55) per share. Executive’s rights with respect to all shares that are the subject of this provision shall be governed by the terms of the Plan.
OPTION TO PURCHASE STOCK. Until and including June 20, 2004 (the --------------------------- "EXPIRATION DATE"), Optionee shall have the right, but not the obligation, to purchase from Mxxxxx up to one hundred thousand (100,000) shares of Common Stock (the "SHARES"). Notwithstanding the foregoing, should Mxxxxx'x ixxxxxx xxxxxxx policy or Regulation BTR of the Sxxxxxxx-Xxxxx Act of 2002 prohibit the Optionee from exercising the option granted under this Agreement for any reason on the Expiration Date, Mxxxxx shall extend the Expiration Date to August 4, 2004.
