Share Option. 2.01 The Corporation hereby grants to the Optionee, subject to the terms and conditions hereinafter set out, an irrevocable option to purchase at any time or from time to time on or before the Expiration Date, 10,000 common shares of the Corporation at a price of $0.20 per Share.
2.02 At 4:30 p.m., Calgary time, on the Expiration Date, the Share Option shall forthwith expire and terminate and be of no further force or effect whatsoever as to such of the Option Shares in respect of which the Share Option hereby granted has not then been exercised.
Share Option. Subject to approval by the Board, the Company will grant to Director, pursuant to the Company’s 2010 Share Incentive Plan (the “Plan”) an option (the “Option”) to purchase shares of ordinary shares of a par value of US$0.00002 each of the Company at an exercise price per share equal to the price for the Company’s ordinary shares in the Company’s initial public offering, subject to the approval by the Board. The Option shall vest over a three- year period after the Effective Date pursuant to the terms of the option agreement between the Company and Director (the “Option Agreement”), with such vesting subject to Director’s continuous service as a member of the Board. The Option shall in all respects be subject to the terms and conditions of the Plan and the Option Agreement. Unvested Option will expire upon Termination (as defined below).
Share Option. The Borrower may repay the whole of the Loan under Clause 4.1 or make a prepayment of the whole of the Loan (but not part only) under Clause 4.2 by issuing all of the Shares in the name of the Lender, and the Loan shall be deemed to have been repaid in full upon such issue of all of the Shares.”
Share Option. The Company agrees to grant Director an option to purchase shares of Common Stock of the Company under the 2003 Omnibus Plan (the "Plan) at the fair market value of $0.80 per share, which is equal to the closing price of the Company’s common stock on October 15, 2011, with the total amount of options granted equal to 50,000 shares of the Company’s common stock. The option shall vest on a quarterly basis (4,166 shares of option to vest on the first 11 quarter anniversaries of the grant and 4,174 shares of option to vest on the 12th quarter anniversary of the grant with the initial 4,166 shares of option vesting to commence on January 15, 2012), and all vesting conditional upon continued service as a Director of the Company as of each such anniversary. Further, the option allows for cashless exercise.
Share Option. (a) The Corporation hereby grants to the Optionee an irrevocable option (the “Option”) to purchase, on the terms hereinafter provided, all or any part of 100,000 common shares (such shares being hereinafter referred to as the “Optioned Shares”) in the capital of the Corporation at a price of $7.20 (Canadian) per share, being the closing price of a common share sold as part of a board lot of such shares on The Toronto Stock Exchange (the “Exchange”) on November 7, 1997.
(b) The Option may be exercised (subject as hereinafter provided) during the ten year period ending on November 7, 2007 or the immediately preceding business day if November 7, 2007 is not business day (such date being hereinafter referred to as the “Expiration Date”). At the close of business in Toronto on the Expiration Date the Option shall expire and be of no further force whatsoever as to such of the Optioned Shares in respect of which the Option has not been fully exercised.
(c) Subject to the terms of this Agreement, any Option may, until the Expiration Date, be exercised without limitation in respect of all or any portion of the shares to which it relates to the extent previously unexercised.
Share Option. 2.1 Subject to the terms and conditions hereinafter set out, the Corporation hereby grants to the Executive, an irrevocable option to purchase • (•) Shares of the Corporation at an exercise price of • Dollars • Cent (CDN $•) per Share, which may be exercised on the following basis:
a. (•) Shares at any time or from time to time during the period commencing January 16, 2007 and expiring on the Expiration Date;
b. (•) Shares at any time or from time to time during the period commencing January 16, 2008 and expiring on the Expiration Date;
c. (•) Shares at any time or from time to time during the period commencing January 16, 2009 and expiring on the Expiration Date; and
d. the remaining • (•) Shares at any time or from time to time during the period commencing January 16, 2010 and expiring on the Expiration Date.
2.2 Notwithstanding Clause 2.1 hereof, in the event of:
a. any disposition of substantially all of the assets of the Corporation, or the dissolution, merger, amalgamation or consolidation of the Corporation, with or into any other corporation, or the merger, amalgamation or consolidation of any other corporation into the Corporation; or
b. any Change in Control of the Corporation; the Executive may exercise of any or all of the remaining Optioned Shares prior to the completion of any such transaction. Upon the Corporation entering into an agreement to effect any of the transactions set forth in Clause 2.2(a) or a change in control being effected as contemplated in Clause 2.2(b), the Option shall be deemed to have been amended to permit the exercise thereof in whole or in part by the Executive at any time or from time to time prior to the completion of such transaction. For the purposes of this Agreement, a “Change in Control” shall be deemed to have occurred if any person, or any two or more persons acting as a group, and all affiliates of such person or persons, who prior to such time beneficially owned less than 20% of the then outstanding Shares, shall acquire such additional Shares in one or more transactions, or series of transactions, such that following such transaction or transactions, such person or group and affiliates beneficially own 20% or more of the Shares outstanding.
2.3 At 4:30 p.m., Calgary time, on the Expiration Date, the Share Option shall forthwith expire and terminate and be of no further force or effect whatsoever as to such of the Option Shares in respect of which the Share Option hereby granted has not then been exercised.
Share Option. 2.01 The Corporation hereby grants to the Optionee, subject to the terms and conditions set out herein and in the Plan, an irrevocable option to purchase Shares of the Corporation at a price of per Share at any time or from time to time on or before the Expiration Date unless subject to earlier termination in accordance with the Plan, after which time the Share Option shall forthwith expire and terminate and be of no further force or effect whatsoever as to such of the Option Shares in respect of which the Share Option hereby granted has not then been exercised.
3.01 The Share Option shall not be exercisable at all until the Grant Date. On the Grant Date, the Share Option shall vest and become exercisable with respect to 30% of the Option Shares and thereafter the Share Option shall vest or become exercisable in respect to 20% of the Option Shares on the 1st anniversary of the Grant Date, a further 20% of the Option Shares shall vest on the 2nd anniversary of the Grant Date, a further 15% of the Option Shares shall vest on the 3rd anniversary of the Grant Date, and the balance shall vest on the 4th anniversary of the Grant Date, and all or any part of the Option Shares which have vested and become exercisable may, subject to any applicable hold periods, be purchased at any time, or from time to time, thereafter, until the earlier of the Expiration Date and the termination of the Share Option pursuant to the provisions of Article 4 hereof.
Share Option. 2.01 The Corporation hereby grants to the Optionee, subject to the terms and conditions hereinafter set out, an irrevocable option to purchase at any time or from time to time on or before the Expiration Date, XX,000 Shares of the Corporation at a price of $XX per Share.
2.02 The Share Option shall vest and shall be exercisable over a period of three years, at 33 1/3% per year, with the first 33 1/3% of the Share Option vesting on the first anniversary of XX, 0000, the second 33 1/3% of the Share Option vesting on the second anniversary of XX, 0000, and the third 33 1/3% of the Share Option vesting on the third anniversary of XX, 0000.
2.03 At 4:30 p.m., Winnipeg time, on the Expiration Date, the Share Option or any portion thereof remaining unexercised shall forthwith expire and terminate and be of no further force or effect whatsoever as to such of the Option Shares in respect of which the Share Option hereby granted has not then been exercised.
Share Option. On the Closing Date, the Investors shall execute the Share Option Agreement and thereby grant an option for the benefit of certain key employees of the Corporation, but not the obligation, to purchase the Option Shares in accordance with the terms of the Share Option Agreement attached hereto as schedule 2.6.
Share Option. A. NRB will be granted the option to purchase 200,000 common shares at a price of $4.00 U.S. each.
B. The options will vest as follows:
i) 50,000 will vest on the successful completion of the money raise.
ii) Thereafter, 10,000 options will vest each and every month until the remaining 150,000 options are fully vested.
C. In the event of a sale of the company or a substantial investment in the equity of the company by a strategic partner resulting in a significant change of the majority of the company's board of directors, any options not fully vested will immediately vest.
D. Subject to the approval of ITI's board of directors, a minimum of 10% of the options created in any new or additional option pools will be allocated to NRB at the prevailing market price at the time such new options may be granted and will vest at the rate of 10,00 options per month in addition to any options then vesting under Paragraph 5.