Placement Agent's Purchase Option Clause Samples

Placement Agent's Purchase Option. The Company hereby agrees to issue and sell to the Placement Agent (and/or its designees) an option ("Placement Agent's Purchase Option") to purchase, at an initial exercise price of $1.50 per share, an aggregate of that number of Shares ("Placement Agent's Shares") as shall equal 15% of the aggregate number of Shares sold in the Offering. At each Closing, the Company shall issue that portion of the Placement Agent's Purchase Option that corresponds to the number of shares sold at such Closing and the Placement Agent shall pay the Company an amount equal to $.0005 for each share covered by the portion of the Placement Agent's Purchase Option issued at such Closing. The Placement Agent's Shares shall be identical to the Shares sold in the Offering. The Placement Agent's Purchase Option shall be exercisable for a period of five years commencing on the date of the Initial Closing.

Placement Agent's Purchase 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 Purchase Option") to purchase a number of Units equal to that percentage of Units sold in the Offering as set forth on Schedule 1.3 hereto, ("Placement Agent's Units") which percentage will be dependent on the Market Price, at an exercise price equal to 110% of the Market Price, but in any event, not less than $2.69 per Unit. The Placement Agent Purchase Option will be in the form attached hereto. The Placement Agent's Units shall be identical to the Units sold in the Offering. The Placement Agent's Purchase Option shall be exercisable for a period of four years commencing on the day following the six-month anniversary of the Closing.