1
EXHIBIT 10: OPTIONS AGREEMENTS
OPTION AGREEMENT WITH XXXX XXXXX
This Agreement is entered into this 9th day of April 1998 between Central
American Equities, a Florida Corporation ("Company") and Xxxx Xxxxx (Purchaser).
Option. Company hereby grants to Purchaser an option to purchase 10,000 shares
of Company's common stock at $1.00 per share ("Option Shares*). The option
granted by this Agreement shall vest 20% per year, so that Purchaser shall have
the right to purchase 2,000 shares per year for five years in accordance with
the terms of this agreement.
Exercise of Option'. Purchaser shall have the right to purchase all or any part
of the Option Shares upon written notice of the exercise of the option on or
before December 31 st of each year in which an option is granted, commencing in
1998. In the event Purchaser exercises the option to purchase less than the
total number of shares available under the option, Purchaser shall be entitled
subsequently to exercise the option as to any remaining Option Shares so long as
notice of the exercise of said option conforms to the terms of this agreement.
Delivery of Option Shares. Within five days after receiving written notice of
the exercise of the option set forth herein, Company shall deliver stock
certificates representing the Option Shares and any and all other documents
which are required to transfer the Option Shares, duly endorsed for transfer, to
the purchaser thereof and shall receive the consideration therefor.
Failure to Exercise Option. In the event Purchaser does not elect to purchase
all of the Option Shares in any given year (2,000 per year), the option granted
by this Agreement shall I be deemed expired as to such remaining Option Shares
and purchaser shall have no further right to purchase said shares pursuant to
the terms of this Agreement.
Notice of Exercise of Option. If Purchaser elects to purchase Option Shares
pursuant to this Agreement, Purchaser shall give written notice of such
election, setting forth the number of Option Shares to be purchased, to:
Central American Equities
c/o Xxxxxx Xxxx & Company
00000 Xxx Xxxxxx, Xxxxx 000
Xxxxxx, Xx. 00000
To be effective, said written notice must be actually received by Company no
later than 5:00 p.m. on December 31 st of each Option Year. In the event
December 31 st in any Option Year falls on a Sunday or a legal holiday, said
notice must be actually received by Company no later than 5:00 p.m. on the last
regular business day prior to December 31 of each Option Year.
Entire Agreement. This Agreement constitutes the entire agreement of the parties
with respect to the matters contemplated herein. This Agreement supersedes any
and all prior understandings, promises, covenants, or agreements as to the
subject matter of this Agreement.
Amendments/Modifications. Any provision in this Agreement may be amended and/or
modified only in writing signed by the party to be charged.
-57-
2
Dated: April 9, 1998
Company
By Xxxxxxx Xxxxxx
Xxxxxxx Xxxxxx/Xxxx Xxxx
Authorized Representatives
Dated: April 9, 1998
Purchaser
Xxxx Xxxxx
Xxxx Xxxxx
OPTION AGREEMENT WITH XXXXXXX XXXXXXX
This Agreement is entered into this 9th day of April 1998 between Central
American Equities, a Florida Corporation ("Company") and Xxxxxxx Xxxxxxx
(Purchaser).
Option- Company hereby grants to Purchaser an option to purchase 15,000 shares
of Company's common stock at $1.00 per share ('Option Shares'). The option
granted by this Agreement shall vest 20% per year, so that Purchaser shall have
the right to purchase 3,000 shares per year for five years in accordance with
the terms of this agreement.
Exercise of Option. Purchaser shall have the right to purchase all or any part
of the Option Shares upon written notice of the exercise of the option on or
before December 31 st of each year in which an option is granted, commencing in
1998. In the event Purchaser exercises the option to purchase less than the
total number of shares available under the option, Purchaser shall be entitled
subsequently to exercise the option as to any remaining Option Shares so long as
notice of the exercise of said option conforms to the terms of this agreement.
Delivery of Option Shares. Within five days after receiving written notice of
the exercise of the option set forth herein, Company shall deliver stock
certificates representing the Option Shares and any and all other documents
which are required to transfer the Option Shares, duly endorsed for transfer, to
the purchaser thereof and shall receive the consideration therefor.
Failure to Exercise Option. In the event Purchaser does not elect to purchase
all of the Option Shares in any given year (3,000 per year), the option granted
by this Agreement shall be deemed expired as to such remaining Option Shares and
purchaser shall have no further right to purchase said shares pursuant to the
terms of this Agreement.
Notice of Exercise of Option. If Purchaser elects to purchase Option Shares
pursuant to this Agreement, Purchaser shall give written notice of such
election, setting forth the number of Option Shares to be purchased, to:
Xxxxxxx Xxxxxx/Xxxx Xxxx
Central American Equities
c/o Xxxxxx Xxxx & Company
00000 Xxx Xxxxxx, Xxxxx 000
Xxxxxx, Xx. 00000
-58-
3
To be effective, said written notice must be actually received by Company no
later than 5:00 p.m on December 31 st of each Option Year. In the event December
31 st in any Option Year falls on a Sunday or a legal holiday, said notice must
be actually received by Company no later than 5:00 p.m. on the last regular
business day prior to December 31 of each Option Year.
Entire Agreement . This Agreement constitutes the entire agreement of the
parties with respect to the matters contemplated herein. This Agreement
supersedes any and all prior understandings, promises, covenants, or agreements
as to the subject matter of this Agreement.
Amendments/Modifications. Any provision in this Agreement may be amended and/or
modified only in writing signed by the party to be charged.
DATED: April 9, 1998
Company
By Xxxxxxx Xxxxxx
Xxxxxxx Xxxxxx/Xxxx Xxxx
Authorized Representatives
DATED: April 9, 1998
Purchaser
By Xxxxxxx Xxxxxxx
Xxxxxxx Xxxxxxx
OPTION AGREEMENT WITH XXXXX XXXXXX
This Agreement is entered into this 9th day of April 1998 between Central
American Equities, a Florida Corporation ("Company") and Xxxxx Xxxxxx
(Purchaser).
Option. Company hereby grants to Purchaser an option to purchase 10,000 shares
of Company's common stock at $1.00 per share ("Option Shares"). The option
granted by this Agreement shall vest 20% per year, so that Purchaser shall have
the right to purchase 2,000 shares per year for five years in accordance with
the terms of this agreement.
Exercise of Option. Purchaser shall have the right to purchase all or any part
of the Option Shares upon written notice of the exercise of the option on or
before December 3 1 st of each year in which an option is granted, commencing in
1998. In the event Purchaser exercises the option to purchase less than the
total number of shares available under the option, Purchaser shall be entitled
subsequently to exercise the option as to any remaining
-59-
4
Option Shares so long as notice of the exercise of said option conforms to the
terms of this agreement.
Delivery of Option Shares. Within five days after receiving written notice of
the exercise of the option set forth herein, Company shall deliver stock
certificates representing the Option Shares and any and all other documents
which are required to transfer the Option Shares, duly endorsed for transfer, to
the purchaser thereof and shall receive the consideration therefor.
Failure to Exercise Option. In the event Purchaser does not elect to purchase
all of the Option Shares in any given year (2,000 per year), the option granted
by this Agreement shall I be deemed expired as to such remaining Option Shares
and purchaser shall have no further right to purchase said shares pursuant to
the terms of this Agreement.
Notice of Exercise of Option. If Purchaser elects to purchase Option Shares
pursuant to this Agreement, Purchaser shall give written notice of such
election, setting forth the number of Optionm Shares to be purchased, to:
Xxxxxxx Xxxxxx/Xxxx Xxxx
Central American Equities
c/o Xxxxxx Xxxx & Company
00000 Xxx Xxxxxx, Xxxxx 000
Xxxxxx, Xx. 00000
To be effective, said written notice must be actually received by Company no
later than 5:00 p.m on December 31 st of each Option Year. in the event December
31 st in any Option Year falls on a Sunday or a legal holiday, said notice must
be actually received by Company no later than 5:00 p.m. on the last regular
business day prior to December 31 of each Option Year.
Entire Agreement. This Agreement constitutes the entire agreement of the parties
with respect to the matters contemplated herein. This Agreement supersedes any
and all prior understandings, promises, covenants, or agreements as to the
subject matter of this Agreement.
Amendments/Modifications. Any provision in this Agreement may be amended and/or
modified only in writing signed by the party to be charged.
Dated: 4/9/98
Company
By Xxxxxxx Xxxxxx
Xxxxxxx Xxxxxx/Xxxx Xxxx
Authorized Representatives
DATED: 4/9/98
Purchaser
Xxxxx Xxxxxx
Xxxxx Xxxxxx
-60-
