Sale of Option Sample Clauses

Sale of Option. 2 SECTION 2 CLOSING DATE; DELIVERY.................................................................2 2.1 CLOSING........................................................................2 2.2 DELIVERY.......................................................................3

Sale of Option. Subject to the terms and conditions of this Agreement, Purchaser agrees to purchase and the Company agrees to sell an option to purchase (the "OPTION") up to forty-nine percent (49%) of the outstanding shares of Common Stock at the time of the exercise of the Option at $85 per share (the "OPTION EXERCISE PRICE") (such price to be adjusted pursuant to Section 5.7), which Option shall be exercisable at any time or from time to time prior to March 31, 2003 (the "OPTION TERMINATION DATE") (shares to be purchased pursuant to the Option are hereinafter referred to as the "OPTION SHARES," and together with the Shares, "SECURITIES"), subject to authorization by SuperGen's shareholders of the Option Shares to be acquired.

Sale of Option. Subject to the terms and conditions set forth below, the Optionor hereby sells to Optionee for the purchase price of Five Hundred Dollars ($500.00) the right and option (the “Option”) to purchase from the Optionor Five Million (5,000,000) shares (the “Option Shares”) of the Company’s common stock ("Common Stock") at an exercise price of Ten Cents ($0.10) per share (the “Exercise Price”), subject to Optionee’s becoming vested in the Option as set forth in this Section 1. (a) Subject to Sections 1(b) and 1(c), below, the Option shall be exercisable only to the extent Optionee has become vested therein. As of any date during the term of this Option, Optionee shall be entitled to purchase such number of the Option Shares (to the extent not previously purchased hereunder) as is determined by multiplying the total number of Option Shares times Optionee’s then-current vesting percentage as determined under this Section 1(a) and Section 7, below. In consideration for Optionee’s continuous employment as President of the Company from and after January 1, 2009 (the “Employment Commencement Date”), Optionee shall become vested in this Option as follows: (i) After one month of continuous employment by the Company following Optionee’s Employment Commencement Date, Optionee shall become vested in one-thirty-sixth (1/36th) of this Option. (ii) For each subsequent period of thirty (30) days thereafter that Optionee remains continuously employed by the Company, Optionee shall become vested in one-thirty-sixth (1/36th) of the this Option until all of the Option Shares are vested. (b) For purposes of this Agreement, “employment” as used herein shall refer to full-time employment of the Optionee as President of the Company during which time the Optionee shall devote his full-time efforts to the business and affairs of the Company and use his best efforts to carry out such responsibilities faithfully and efficiently. (c) Notwithstanding any provision hereof to the contrary, if for any reason Optionee shall ceased to be employed by the Company as its President, whether voluntarily or involuntarily, Optionee shall forfeit any portion of the Option in which Optionee is not then vested as of the first date that Optionee’s employment with the Company terminates. (d) Subject to the foregoing provisions of this Section 1, the Option is exercisable at any time and from time to time during its term, in whole or in part, to the extent that Optionee has become vested in such Option pursua...

Sale of Option. In consideration of the payment of the amount set forth in Section 2.2 hereof, and for other good and valuable consideration, on the date hereof the Company irrevocably grants to the Optionholder the option to purchase any part or all of an aggregate of 20,000 shares of its $.01 par value Common Stock upon the terms and conditions set forth in this Agreement.

Sale of Option. Subject to the terms and conditions set forth below, the Optionor hereby grants to Optionee, a 2 month option to purchase the Option Shares at a per share purchase price from Optionor of $1.00 per share (the “Initial Exercise Price”).

Sale of Option. Optionor hereby grants to the Corporation, and the Corporation hereby accepts from Optionor, the Option for the consideration recited above, and on the terms set forth herein. In the event the Corporation exercises the Option in accordance with Section 1.4, the parties shall, at the Corporation's election, either execute and deliver a contract of sale for the Option Property in form and substance reasonably acceptable to Optionor and the Corporation, including but not limited to, and otherwise consistent with, the terms set forth herein (the "Contract of Sale"), or consummate the Closing in accordance with the terms hereof.

Sale of Option. Subject to the terms and conditions set forth below, the Optionor hereby grants to Optionee, a 2 month option to purchase the Option Shares at a per share purchase price from Optionor of $1.00 per share (the “Initial Exercise Price”). In addition, Optionee shall have the further irrevocable right and option prior to expiration of the Extension Period, upon payment of the Extension Payment, to purchase the Option Shares at an Exercise Price per share (the “Blended Exercise Price”) determined as follows: (i) 4,256,000 Option Shares at $1.00 per share: and (ii) 1,064,000 Option Shares at the volume weighted average price (VWAP) of the Company’s common stock as reported on Bloomberg for a period of sixty (60) consecutive trading immediately prior to exercise. The Option is exercisable at any time and from time to time during its term and the Extension Period, in whole or in part. This Option is assignable in the discretion of the Optionee.

Sale of Option. If PDI does not exercise the Option during the Option Period or if PDI wishes to sell its Option to another person at any time, with the prior consent of LTS (such consent not to be unreasonably withheld or delayed), then PDI is free to sell that Option, provided that PDI will retain a sum equal to the PDI Interest multiplied by purchase price at which the Option is sold and PDI will remit the balance to LTS within 30 days of PDI receiving such purchase price in cleared funds. If any dispute arises regarding each Party’s share of the proceeds of sale of the Option, that dispute will be resolved in accordance with Section 10.01.

Sale of Option. The Seller Parties hereby sell to Symposium, and Symposium hereby purchases from the Seller Parties, an option to purchase the Assets from the Seller Parties. Symposium has concurrently herewith delivered to the Seller Parties its check in the amount of $100 in consideration of the Option.

Sale of Option. The Company sells, assigns and delivers an Option for 500,000 Option Shares to Optionee, upon the terms and conditions set forth herein, for a cash consideration of $150,000 payable as follows: