The Option. Grant Recipient(s) hereby grant to the Project Stakeholder(s) that contribute(s) at least ten percent (10%) of the Project budget an Option to acquire an exclusive or non-exclusive right to exploit Results in the respective Project Stakeholder’s Field of Use or acquire ownership of those Results. A Project Stakeholder may exercise the Option for any specific part of the Results by written notification to the respective Grant Recipient within three (3) months of being informed of the Results. Upon exercising the Option, Parties concerned shall promptly enter negotiations in good faith to reach agreement on fair and reasonable conditions within six (6) months of the written exercise of the Option. The licence or transfer agreement shall include at least the following provisions: The respective Project Stakeholder obtains the right to use and exploit the Results in its Field of Use; The respective Project Stakeholder pays to the Grant Recipient(s) that own the Results a fair and reasonable market price. Contributions by Project Stakeholders of at least thirty percent (30%) of the Project budget are considered a reasonable market price in exchange for a non-exclusive licence in the Field of Use of the respective Project Stakeholder; The respective Project Stakeholder shall make best endeavours to exploit the Results in its Field of Use and report to the Grant Recipient(s) on the progress of the exploitation frequently; Grant Recipients shall retain the right at all times to use Results for further non-commercial research and education on a royalty-free basis; Grant Recipient(s) shall not be held liable for any loss or damage incurred by the respective Project Stakeholder arising out of the use or exploitation of Results. The respective Project Stakeholder shall indemnify Grant Recipient(s) against claims from third parties arising out of the use or exploitation of Results by or through the respective Project Stakeholder. The licence or transfer agreement shall take into account the Ten Principles for Socially Responsible Licensing as laid down in the NFU report on ‘Ten Principles for Socially Responsible Licensing’. In the event that a Project Stakeholder has failed to exercise the Option within the set timeframe the Option for the Results concerned shall lapse and the respective Grant Recipient(s) shall be free to offer the Results concerned to a third party.
The Option. From the date hereof until July 4, 2011 at any time and from time to time, the Company, may, by written notice (the “Option Notice”) to the Purchaser, exercise all or any portion of the Option, subject, however, to the conditions and limitations set forth in Section 1.4 (d) and Section 1.4(e). In the event that the Option is exercised, the purchase price for the Option Series A Preferred Stock shall be $10,000 per share multiplied by the number of shares being purchased (the “Option Purchase Price”). The purchase and sale of the Option Series A Preferred Stock shall take place at one or more closings (each, an “Option Closing”) at such day and time as the Company shall designate in the Option Notice, which shall be no less than 10 days nor more than 30 days from the date the Option Notice is first sent to the Purchaser (each, an “Option Closing Date”). On an Option Closing Date, the Company shall issue the Option Series A Preferred Stock in book-entry form in the name of Purchaser, and Purchaser shall deliver the Option Purchase Price by wire transfer of immediately available funds to an account designated in writing by the Company. In addition, before such Option Closing, each party shall deliver such documents, instruments and writings as may be deemed to be reasonably necessary by the other party to complete the purchase and sale of the Option Series A Preferred Stock being purchased. Subject to the payment of the aggregate Option Purchase Price in accordance with this Agreement, the Option Series A Preferred Stock so issued will be fully paid for by the Purchaser as of such Option Closing Date. Any exercise of the Option shall be subject to the following conditions: (i) the sale of the Initial Series A Preferred Stock pursuant to Sections 1.3 above shall have been consummated; (ii) the Company shall be not be in default or breach of its obligations under the Certificate; (iii) there shall be no actions, suits, proceedings, inquiries or investigations pending or threatened against the Company, including those under bankruptcy, insolvency, receivership or similar laws, that could reasonably be expected to have a Material Adverse Effect (as such term is defined in the Contribution Agreement) on the Company; and (iv) the representations and warranties of the Company set forth in Article VII of the Contribution Agreement shall be true and correct as though made as of the Option Closing Date.
The Option. (a) Issuer hereby grants to Grantee an unconditional, irrevocable option (the "Option") to purchase, subject to the terms hereof, up to 13,266,587 fully paid and nonassessable shares of common stock, having a par value of one dollar per share ("Common Stock"), of Issuer at a price per share in cash equal to $65.00 (the "Option Price"); provided, however, that in no event shall the number of shares for which the Option is exercisable exceed 19.9% of the shares of Common Stock issued and out standing at the time of exercise (without giving effect to the shares of Common Stock issued or issuable under the Option) (the "Maximum Applicable Percentage"). The number of shares of Common Stock purchasable upon exercise of the Option and the Option Price are subject to adjustment as set forth herein.
(b) In the event that any additional shares of Common Stock are issued or otherwise become outstanding after the date of this Agreement (other than pursuant to this Agreement), the aggregate number of shares of Common Stock purchasable upon exercise of the Option (inclusive of shares, if any, previously purchased upon exercise of the Option) shall automatically be increased (without any further action on the part of Issuer or Grantee being neces sary) so that, after such issuance, it equals the Maximum Applicable Percentage. Any such increase shall not affect the Option Price.
The Option. Issuer hereby grants to Grantee an unconditional, irrevocable option (the "Option") to purchase, pursuant to the terms and subject to the conditions hereof, up to 54.5 million fully paid and nonassessable shares of Common Stock at a price of $30.24 per share (the "Option Price"); provided, however, that in no event shall the number of shares for which the Option is exercisable exceed 19.9 % of the shares of Common Stock issued and outstanding at the time of exercise (without giving effect to the shares of Common Stock issued or issuable under the Option). The number of shares of Common Stock purchasable upon exercise of the Option and the Option Price are subject to adjustment as set forth in this Agreement.
The Option. Under and subject to the provisions of the Corporation's Employee Stock Option Plan as in effect from time to time ("Plan"), the Corporation hereby grants to Employee a non-statutory option to purchase an aggregate of _________ shares of Common Stock of the Corporation at the price of U.S. $_________ per share ("Option"), subject to the following conditions:
(a) The Option shall not be exercisable to any extent until and unless the Employee shall have remained continuously in the employ of the Corporation for one year from the date hereof. Nothing herein shall limit or restrict the Corporation's rights to terminate the Employee's employment.
(b) During the lifetime of the Employee, the Option shall be exercisable only by the Employee, and (except when Section 2 is applicable) only while the Employee continues as an employee of the Corporation.
(c) Notwithstanding any other provision of this Agreement, the Option shall expire no later than five years from the date hereof and shall not be exercisable thereafter.
(d) The number of shares of Common Stock with respect to which the Option may be exercised from time to time is limited to the following percentages of the aggregate number of shares optioned hereby:
(i) After the end of one year and prior to the end of two years from the date hereof, not more than thirty-three percent (33.333%);
(ii) After the end of two years and prior to the end of three years from the date hereof, not more than sixty-six percent (66.666%);
(iii) After the end of three years from the date hereof, one-hundred percent (100%).
The Option. The Company grants the Option Holder the following options for purchasing or subscribing to shares in the Company (the “Options”): Date of grant: [=date of grant] Number granted: [=number of shares] shares (the “Option Shares”) Exercise price per share: NOK [=strike price] (the “Strike Price”) Date of expiration: 10 years after the date of grant
The Option. The Company hereby grants to the Optionee an option (the “Option”) to purchase all or any part of an aggregate of such number of shares of Common Stock as is set forth on the signature page hereto (subject to adjustment as provided in Section 9 of the Interline Brands, Inc. 2012 Stock Option Plan (the “Plan”) on the terms and conditions set forth in this Agreement and as otherwise provided in the Plan. This Option is not intended to be treated as an “incentive stock option,” as such term is defined in Section 422 of the Internal Revenue Code of 1986, as amended.
The Option. The Option gives you the right to buy a certain number of shares of Cigna Common Stock (Shares) during the Option Period (described in paragraph 2) at the Option Price. Your Option Grant Agreement lists the number of Shares and your Option Price. To buy the Shares at the Option Price, you must exercise the Option.
The Option. The Company hereby grants to NuVen the option to acquire Five Hundred Thousand (500,000) shares of the Company's Common Stock (the "Option"), subject to adjustment as set forth herein (such shares, as adjusted, are hereinafter referred to as the "Option Shares"), at a purchase price of Fifty Cents ($.50) per share ("Option Price").
The Option. Under and subject to the provisions of the Corporation’s Employee Stock Option Plan as amended and as in effect from time to time (“Plan”), the Corporation hereby grants to Employee a non-statutory option to purchase an aggregate of 350,000 shares of Common Stock of the Corporation at the price of U.S. $2.45 per share (“Option”), subject to the following conditions:
(a) The Option shall not be exercisable to any extent until and unless the Employee shall have remained continuously in the employ of the Corporation until January 1, 2003. Nothing herein shall limit or restrict the Corporation’s rights to terminate the Employee’s employment.
(b) During the lifetime of the Employee, the Option shall be exercisable only by the Employee, and (except when Section 2 is applicable) only while the Employee continues as an employee of the Corporation.
(c) Notwithstanding any other provision of this Agreement, the Option shall expire no later than five years from the date hereof and shall not be exercisable thereafter.
(d) The number of shares of Common Stock with respect to which the Option may be exercised from time to time is limited to the following amounts of the aggregate number of shares optioned hereby:
(v) After January 1, 2003 and prior to January 1, 2004, not more than 35,000 shares;
(vi) On and after January 1, 2004 and prior to January 1, 2005, not more than 140,000 shares;
(vii) On and after January 1, 2005, not more than 350,000 shares.
