Options Outstanding Clause Samples

Options Outstanding. The Company currently maintains the GRC International, Inc. 1985 Employee Stock Option Plan, the GRC International, Inc. 1994 Employee Stock Option Plan, the GRC International, Inc. 1998 Employee Stock Option Plan, the GRC International, Inc. Cash Compensation Replacement Plan, and the GRC International, Inc. Directors Fee Replacement Plan (collectively referred to as the "Stock Plans"), more specifically described in Section 4.2, which provide for the granting of options to purchase and awards of Company Common Stock, and the GRC International, Inc. 1985 Employee Stock Purchase Plan ("ESPP"), which permits employees to purchase Company Common Stock. As of the date of this Agreement, the Company has taken all actions necessary to amend each Stock Plan and the ESPP to provide that no further options, awards or rights to receive equity shall be granted, offered or elected under any Stock Plan after the date hereof. As of the date of this Agreement, the Company has taken all actions necessary to cause the GRC International, Inc. Cash Compensation Replacement Plan, the GRC International, Inc. Directors Fee Replacement Plan, and the ESPP to terminate, and all participant contributions and deferral amounts credited on behalf of the participants under such plans at the time of such termination shall be paid to them in cash by the Company as soon as administratively practicable thereafter.

Options Outstanding. The Company has a stock option program of 10,000,000 options to key employees in the Company, where of 9,205,000 options have been granted. 7,355,000 have a strike price of USD 3.50, 1,200,000 have a strike price of USD 4.00 and 650,000 have a strike price of USD 4.20.

Options Outstanding. Landmark currently maintains the Landmark Option Plans, which provide for the granting of options to purchase and awards of Shares, and the ESPP, which permits employees to purchase Shares. On and after the date of this Agreement, Landmark shall take all actions necessary to amend each Landmark Option Plan and the ESPP to provide that no further options, awards or rights to receive equity shall be granted or offered under any Landmark Option Plan or the ESPP after the date hereof. Landmark agrees to take all actions necessary to cause the ESPP to terminate as promptly as practicable after the date of this Agreement, and all participant contributions and deferral amounts credited on behalf of the participants under the ESPP Plan at the time of such termination shall be paid to the participants, respectively, in cash by Landmark at such time without interest.

Options Outstanding. In consideration of its advances made pursuant to Revolving Line of Credit, the Company has granted to HomeGold Financial, Inc. ("HGF") the option to purchase Units of ownership interest in the Company, which shall, after issuance, constitute eighty (80%) percent of the authorized and issued Units of the Company. The exercise price for such option is $100,000. The aforesaid option may be exercised by HGF at any time prior to December 31, 2012 by written notice to the Company, accompanied by payment of the exercise price.

Options Outstanding. Pursuant to the Corel Corporation Employee Stock Option Plan and the Corel Corporation Employee Stock Option Plan 2000, options for 5,109,588 common shares are outstanding as of September 28, 2000. The Articles of the Corporation are amended to create a first series of 24,000,000 participating convertible preferred shares which shall be designated the Series A Participating Convertible Preferred Shares (the "Series A Shares") and shall have attached thereto, in addition to the rights, privileges, conditions and restrictions attaching to the Preferred Shares as a class, the following rights, privileges, conditions and restrictions as set forth below:

Options Outstanding. Viasoft currently maintains the Viasoft Option Plans, which provide for the granting of options to purchase and awards of Viasoft Common Stock, and the ESPP, which permits employees to purchase Viasoft Common Stock. On and after the date of this Agreement, Viasoft shall take all actions necessary to amend each Viasoft Option Plan and the ESPP to provide that, except as set forth in Section 6.4(a) of the Viasoft Disclosure Letter, no further options, awards or rights to receive equity shall be granted or offered under any Viasoft Option Plan or the ESPP after the date hereof. Except as set forth in Section 6.4(a) of the Viasoft Disclosure Letter, Viasoft agrees to take all actions necessary to cause the ESPP to terminate on or before the Effective Time, and all participant contributions and deferral amounts credited on behalf of the participants under the ESPP Plan at the time of such termination shall be paid to them in cash by Viasoft as soon as administratively practicable thereafter.