Placement Agent's Option Clause Samples

Placement Agent's Option. The Company hereby agrees to issue and sell to the Placement Agent (and/or its designees) at each Closing, for an aggregate purchase price of $100.00, an option ("Placement Agent's Option") to purchase a number of Units equal to 10% of the number of Units sold at each Closing at a price per Unit equal to $0.125 above the Market Price (such exercise price to be adjusted in the same manner as the Warrants, as described in the third paragraph of this Agreement) ("Placement Agent's Units" and together with the securities underlying the Placement Agent's Units, "Placement Agent Securities"). The Placement Agent's Option shall entitle the holder thereof to purchase securities that are identical to the securities sold pursuant to the Offering. The Placement Agent's Option is exercisable for a five-year period commencing on the First Closing. The Placement Agent's Option shall contain registration rights with respect to the Placement Agent Option and Placement Agent Securities identical to the registration rights granted to the Subscribers in the Offering. The Purchase Option will contain an appropriate cashless exercise provision.

Placement Agent's Option. The Company hereby agrees to issue and sell to the Placement Agent (and/or its designees) at the Closing, for an aggregate purchase price of $100.00, an option ("Placement Agent's Option") to purchase 264,000 Units at a price per Unit equal to the greater of (i) $1.625 or (ii) $0.125 above the closing sales price of a share of the Company's Common Stock on the last trading day prior to the Closing ("Placement Agent's Units" and together with the securities underlying the Placement Agent's Units, "Placement Agent Securities"). The Placement Agent's Option shall entitle the holder thereof to purchase securities that are identical to the securities sold pursuant to the Offering. The Placement Agent's Option is exercisable for a period of 54 months commencing on the six month anniversary of the Closing. The Placement Agent's Option shall contain registration rights with respect to the Placement Agent Option and securities underlying the Placement Agent's Option identical to the registration rights granted to the Subscribers in the Offering. The form of Placement Agent's Option is annexed as Exhibit A hereto.